The Finance Committee of Danvers held a meeting on April 17, 2025, to review the budget for fiscal year 2026, addressing several key financial issues and community concerns. A significant topic of discussion was the return of $4 million to ratepayers, which the town cannot override, as mandated by the Department of Public Utilities (DPU). This amount, already paid in, cannot be redirected to capital projects, a point clarified during the meeting.

Committee members also discussed the town's financial performance in comparison to neighboring communities. A member expressed interest in the annual rankings of local municipalities, noting that Danvers has consistently been outperformed by Peabody, with Middleton now ranking as the lowest. This light-hearted competition highlighted the community's ongoing interest in fiscal management.

Another important topic was the Payment in Lieu of Taxes (PILOT) program, which contributes $1.5 million this year. Questions arose regarding whether the water and sewer departments could contribute more through this program. It was clarified that while they do make a small contribution for the land they own, any increase would likely lead to a rate hike for residents.

The meeting concluded with a focus on the implications of these financial discussions for the town's budget and future projects. The Finance Committee will continue to explore ways to manage the budget effectively while adhering to state regulations and community needs.