Finance committee approves $139,800 transfer for South and West school roofs

The finance committee of the Peabody City Council voted to transfer $139,800 from an Apple Funds interest account to a South and West School roofs account, approving the move 5-0 at a committee meeting.

The transfer covers additional design and project-management costs for two school-roof projects that are part of the MSBA-accelerated repair program. Mr. Gingras, finance staff, said the city previously moved $125,000 toward design for the two roofs and that bids for designers and the project manager came in higher than expected, prompting the new request.

Councilor Gould moved the transfer, reading the account numbers into the record: "to transfer from Apple Funds interest to account number 25005900348122021 the amount of $139,800 transferred to South and West School roofs account number 300000358862025." The motion received a roll-call vote of yes from Councilors Turco, Gould, Gamache, Mary Martin and Chair Councilor McGinn.

Mr. Gingras described the additional funds as coming from interest balances and tied to design and project-management needs for the roof work. No amendment or abstention was recorded.

With the vote, staff may proceed with the planned design and procurement steps funded by the transfer. The committee did not set a separate follow-up schedule for this transfer; further details about project timing and construction were not specified in the committee discussion.