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The committee unanimously approved Beverly’s forecasted revenues and expenditures with updates, including a 6% annual health-insurance increase on the city side, revised capital outlay growth of 2.5%, and an Essex Tech assessment adjustment based on enrollment trends.
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The approved forecast provides the financial assumptions the committee will use in its final report. Beverly Public Schools reported that salaries and benefits make up 83% of its budget, while the forecast assumes no change in full-time staffing or new funding sources. The committee plans to review and approve the final report on December 9, including discussion of long-term revenue options and the structural deficit.
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