The Select Board meeting held on March 4, 2025, in Danvers, Massachusetts, focused on the town's financial status, particularly regarding fund balances and budgetary concerns. Key discussions revolved around the town's restricted net position and the implications of increasing free cash reserves.

During the meeting, officials reviewed the town's financial statements, noting significant components of the restricted net position, including funds allocated for water mitigation, childcare, and student athletics. The total for these items was highlighted, with water mitigation accounting for $1 million, childcare for $700,000, and student athletic fees for $600,000. The board emphasized the importance of segregating permanent funds from special revenue funds to maintain clarity in financial reporting.

A notable point raised by a resident, Kevin Barich, concerned the recreation revolving fund, which had previously been zeroed out and appropriated for playground projects. It was clarified that while a portion of the fund was closed out, a significant amount remained available for future use.

Another resident, Mark, expressed concerns about the rising free cash balance, which increased from $12.5 million last year to $13.7 million this year. He questioned whether the town's budget was inflated to maximize real estate tax revenues. In response, officials explained that the high free cash figure was largely due to landfill funds, which would decrease once the landfill operations commenced. They assured that the upcoming budget would reflect more realistic expenditure expectations.

The meeting concluded with a commitment to provide further updates on fund balances and budgetary changes as part of the ongoing financial review process. The discussions underscored the town's efforts to manage its finances responsibly while addressing community needs through various funded projects.