Peabody Schools Tap 'Rainy Day' Funds For $94.6 Million Budget

PEABODY, MA — A $94.6 million Peabody Public Schools budget that avoids layoffs but taps into so-called "rainy day" revolving account funds was approved by the School Committee on Tuesday night after weeks of difficult and, at times, emotional debate on necessary cuts.

The School Committee did cut some previously approved positions, but was able to avoid eliminating any current staff. One central office position set to be cut after a vote of the School Committee last week was restored prior to the public hearing on Tuesday with use of revolving account funds.

"These are rainy day funds," Peabody Superintendent Josh Vadala said. "Unfortunately, it is raining. We are looking to tap into these funds more than any of us are comfortable with."

The budget is a $1.3 million increase over last year and provides largely level-funding with most of the increases going toward health insurance premiums, transportation and special education. The budget also had to account for the expiration of the COVID-era ESSER funding and the positions and services that supported since 2021.

"These are not easy meetings, certainly, for all of us," said Peabody Mayor and School Committee Chair Ted Bettencourt. "Particularly in these last few meetings you've seen some passion, some disagreement, but that's just because we all care deeply and want to try to do the right thing.

"We want to figure out the best way we can to make this work. considering some of the constraints that we have on us, and unfortunately I think they will be becoming potentially even more so next year. ... I think we've done a good job here. It wasn't easy but I think we did a good job here and we've created some momentum even though there is so much work still to do."

(Scott Souza is a Patch field editor covering Beverly, Danvers, Marblehead, Peabody, Salem and Swampscott. He can be reached at Scott.Souza@Patch.com. X/Twitter: @Scott_Souza.)