Peabody Would See Small Cut Under Gov.'s Local Aid Proposal
City officials are still concerned with any cut to local aid, but say the proposal from the governor to trim unrestricted local aid mid-year would have a minimal affect on Peabody's budget.
While much ado is being made at the state level on proposed emergency budget cuts to local aid for cities and towns, the net effect in Peabody will likely be minimal, according to city finance officials. The cut, while unwelcome, may only amount to about $56,000 in unrestricted local aid within a city budget of $140 million for Fiscal 2013. "Anytime there are cuts to local aid that affect the city budget, they are a concern," said Mayor Ted Bettencourt Wednesday. "It will have an impact on Peabody, regardless of the number." Finance Director Patricia Schaffer said her understanding is that only general government aid would be trimmed by 1 percent under the governor's plan, not the $25.5 million Peabody received for local aid as a whole, …
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