The Finance Committee of Danvers convened on April 28, 2025, to review the budget for Fiscal Year 2026. The meeting focused on several key articles, including adjustments to veteran tax exemptions and the annual revolving fund account.

The session began with discussions on two articles related to the HERO Act, which expands benefits for veterans. Chief Assessor John LaBelle explained that the first article would adjust the existing exemption for veterans based on the Consumer Price Index (CPI), allowing for an increase in the exemption amount. The second article proposed an additional exemption of up to 100%, enabling veterans to receive the full benefit immediately, rather than waiting for their tax bill to reach a certain threshold.

Committee members engaged in a thorough discussion about the implications of these adjustments. It was clarified that the HERO Act applies specifically to disabled veterans and that the proposed changes would not affect the overall tax bill negatively. After addressing questions from the audience, both articles were put to a vote. Article 29 was approved unanimously, followed by Article 30, which also passed with full support.

Next on the agenda was the annual revolving fund account article, which sets the maximum expenditure limits for various programs. The childcare program was noted to have a slight increase due to additional staffing and cost-of-living adjustments. The committee members expressed their support for the childcare program, and the article was subsequently approved.

The meeting concluded with discussions on stabilization funds, particularly the special education stabilization fund. A recommendation was made to appropriate $500,000 from free cash to bolster this fund, bringing the total balance to $1.25 million. This fund allows the school committee to manage unexpected special education costs without needing further appropriations. The committee members expressed their agreement with this approach, emphasizing the importance of being prepared for potential tuition increases.

Overall, the meeting highlighted the committee's commitment to supporting veterans and ensuring adequate funding for essential programs, while also maintaining fiscal responsibility. The next steps will involve implementing the approved articles and monitoring the financial implications as the fiscal year progresses.