Finance Committee transfers $200,000 within CPC accounts to fund Ross Park appropriation

The Peabody City Council Finance Committee approved a $200,000 transfer from the Community Preservation Act unreserved fund balance to the CPC open space account to fund the Ross Park playground appropriation previously approved by the committee.

A city staff member described the transfer as a housekeeping entry “to move from our unreserved account to the open space account to fund the previous request that we just voted on.” Councilor Gamache asked about the balance in the unreserved account; staff replied the balance was $2,400,000. Councilor Gould moved the $200,000 transfer and the committee approved the motion on a roll call vote with Councilors Turco, Gould, Gamache, Manning Martin and Chair Councilor McGinn voting yes.

The action was characterized by staff as an accounting cleanup to align the unreserved CPC balance with the open space appropriation; no amendments or follow-up tasks beyond standard accounting were recorded in the meeting discussion.