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Summary Report - Municipal/School Finance
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Base Municipality:North Andover
report version 1.3.3
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Date Run: 03/09/2026
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CensusData Year North AndoverAndoverWinchesterTewksburyMiddletonBoxfordHaverhillBurlingtonDanversWakefieldBeverly
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Municipal Population2023 31,615 36,485 22,837 31,243 9,849 8,149 67,415 26,527 27,896 27,810 42,318
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Total Student Enrollment (Pupil FTEs)2024 4,653 5,582 4,380 3,423 735 779 8,722 3,650 3,452 3,491 4,712
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Spending on Education - TrendsFY 2026 
(Budgeted)		FY 2025 FY 2024 FY 2023 FY 2022 FY 2021 Time Period ChangeTime Period Percentage Change
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Required Net School Spending $ 59,879,590 $ 57,569,717 $ 54,375,769 $ 51,562,160 $ 50,886,488 $ 8,993,102 17.67%
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Annual Percentage Change---4.01%5.87%5.46%1.33%---
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Actual Net School Spending $ 77,161,279 $ 74,829,411 $ 68,546,794 $ 66,762,659 $ 63,060,240 $ 14,101,039 22.36%
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Annual Percentage Change---3.12%9.17%2.67%5.87%---
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Actual Net School Spending as % of Required Net School Spending---128.86%129.98%126.06%129.48%123.92%4.94% --
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Per Pupil Spending $ 19,313 $ 18,221 $ 17,409 $ 16,052 $ 3,260.43 20.31%
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Annual Percentage Change------5.99%4.66%8.45%---
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Total General Fund Revenues (Schedule A) $ - $ 132,835,644 $ 127,731,128 $ 120,947,434 $ 113,344,057 $ 114,102,891 $ 18,732,753 16.42%
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Annual Percentage Change---4.00%5.61%6.71%-0.67%---
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Total General Fund Expenditures (Schedule A) $ - $ 128,206,273 $ 119,681,045 $ 110,912,288 $ 109,036,755 $ 104,141,310 $ 24,064,963 23.11%
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Annual Percentage Change---7.12%7.91%1.72%4.70%---
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Total General Fund Expenditures on education (Schedule A) $ - $ 66,862,027 $ 64,823,870 $ 58,391,390 $ 58,288,896 $ 54,768,990 $ 12,093,037 22.08%
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Annual Percentage Change---3.14%11.02%0.18%6.43%---
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Percent of General Fund spent on education---52.15%54.16%52.65%53.46%52.59%-0.44%---
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Spending on Education - CompsData Year North AndoverAndoverWinchesterTewksburyMiddletonBoxfordHaverhillBurlingtonDanversWakefieldBeverlyComparable AverageDiff from Ave Rank Among Comparables
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Actual Net School Spending as % of Required Net School Spending2025128.86%167.96%144.24%137.03%173.41%176.64%106.11%187.47%144.64%146.38%128.97%151.28%-22.42%10
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Percent of General Fund Spent on Education202552.15%44.99%46.20%44.85%58.65%66.38%52.42%44.20%47.66%47.67%50.34%1.82%4
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Per Pupil Spending - CompsData YearNorth AndoverAndoverWinchesterTewksburyMiddletonBoxfordHaverhillBurlingtonDanversWakefieldBeverlyComparable AverageDiff from Ave Rank Among Comparables
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Per Pupil spending2024 $ 19,313 $ 24,441 $ 19,933 $ 23,195 $ 23,110 $ 22,511 $ 20,353 $ 27,732 $ 21,728 $ 20,743 $ 20,112 $ 22,386 $ (3,073)11
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Ability to Pay - Proposition 2½ TrendsFY 2026 FY 2025 FY 2024 FY 2023 FY 2022 FY 2021 Time Period ChangeTime Period Percentage Change
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Total Levy $ 107,131,760 $ 99,369,474 $ 94,941,208 $ 91,721,248 $ 83,507,618 $ 80,582,310 $ 26,549,449 32.95%
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Annual Percentage Change7.81%4.66%3.51%9.84%3.63%---
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Levy Limit  $ 112,576,454 $ 104,488,520 $ 96,796,124 $ 92,425,142 $ 83,564,943 $ 80,705,586 $ 31,870,868 39.49%
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Annual Percentage Change7.74%7.95%4.73%10.60%3.54%---
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Excess Levy Capacity  $ 5,444,694 $ 5,119,046 $ 1,854,916 $ 703,894 $ 57,325 $ 123,276 $ 5,321,419 4316.69%
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Excess Levy Capacity as % of Levy Limit4.84%4.90%1.92%0.76%0.07%0.15%4.69%3126.67%
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Levy Ceiling  $ 220,966,226 $ 207,332,540 $ 200,911,745 $ 175,543,491 $ 147,141,021 $ 135,787,504 $ 85,178,722 62.73%
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Override Capacity $ 108,522,661 $ 103,103,944 $ 104,390,220 $ 83,407,773 $ 63,885,552 $ 55,416,817 $ 53,105,844 95.83%
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Ability to Pay - Proposition 2½ CompsData Year North AndoverAndoverWinchesterTewksburyMiddletonBoxfordHaverhillBurlingtonDanversWakefieldBeverlyComparable AverageDiff from Ave Rank Among Comparables
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Excess Levy Capacity as % of Levy Limit20264.84%0.62%0.04%0.98%0.90%2.58%1.81%8.80%0.09%0.08%0.02%1.59%3.25%2
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Override Capacity as a % of Levy Ceiling 202649.11%45.00%61.77%47.27%53.47%45.16%54.20%34.65%50.70%52.48%52.04%49.67%-0.56%7
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Ability to Pay - Chapter 70 TrendsFY 2026 FY 2025 FY 2024 FY 2023 FY 2022 FY 2021 Time Period ChangeTime Period Percentage ChangeFY2027 Estimate (Gov Budget)FY2027 Estimate (w/ $160 per pup min)
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Chapter 70 Aid Historical Trends $ 13,071,489 $ 12,406,539 $ 11,942,699 $ 10,701,919 $ 9,298,097 $ 9,160,097 $ 3,911,392 42.70%$13,500,000 $13,900,000
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Annual Percentage Change5.36%3.88%11.59%15.10%1.51%---3.50%6%
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Ability to Pay - Other Municipal Trends FY 2026 FY 2025 FY 2024 FY 2023 FY 2022 FY 2021 Time Period ChangeTime Period Percentage Change
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Total Operating Budget $ 148,166,201 $ 137,848,172 $ 130,032,591 $ 123,396,345 $ 115,681,046 $ 110,763,864 $ 37,402,337 33.77%
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Annual Percentage Change7.49%6.01%5.38%6.67%4.44%---------
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Certified Free Cash available from previous fiscal year $ 9,521,008 $ 9,706,266 $ 12,104,543 $ 12,697,037 $ 12,961,921 $ 10,835,562 $ (1,314,554)-12.13%
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Annual Percentage Change-1.91%-19.81%-4.67%-2.04%19.62%---
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Date Certified 10/20/2025 12/31/2024 08/03/2023 10/17/2022 09/22/2021 08/20/2020 --- ---
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Certified Free Cash as a % of Previous Year Total Operating Budget6.91%7.46%9.81%10.98%11.70%10.55%-3.64%-34.50%
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Total Stabilization Fund $ 6,664,137 $ 6,285,004 $ 5,711,557 $ 7,527,450 $ 6,989,119 $ (324,982)-4.65%
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Annual Percentage Change6.03%10.04%-24.12%7.70%---
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Total Stabilization Fund as a % of Current Year Total Budget4.83%4.83%4.63%6.51%6.31%-1.48%-23.45%5 Year Average
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Local Receipts: Actual minus Estimated $ 3,912,206 $ 3,284,740 $ 2,986,000 $ 4,382,474 $ 8,391,474 $ (4,479,268)-53.38%$4,591,379/year
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Ability to Pay - Other CompsData Year North AndoverAndoverWinchesterTewksburyMiddletonBoxfordHaverhillBurlingtonDanversWakefieldBeverlyComparable AverageDiff from Comparable AverageRank among comparablesStatewide AverageStatewide Median
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Certified Free Cash as a % of previous Year Total Budget20266.91%11.52%13.54%6.45%18.93%7.51%4.23%14.05%10.32%6.04%10.29%-3.38%78.77%7.19%
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Total Stabilization Fund as a % of Current Year Total Budget20254.83%3.31%3.18%12.90%5.40%2.40%3.07%5.97%2.79%12.63%5.74%-0.91%57.39%5.83%
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Municipal Financial Indicators - CompsData Year North AndoverAndoverWinchesterTewksburyMiddletonBoxfordHaverhillBurlingtonDanversWakefieldBeverlyComparable AverageDiff from Comparable Average
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General Fund Debt Service2024 $ 4,210,520 $ 25,009,991 $ 13,322,060 $ 13,364,217 $ 3,805,330 $ 1,130,882 $ 5,139,061 $ 6,925,377 $ 6,115,951 $ - $ 7,693,724 --- ---
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GF Debt Service as a % of Budget20243.24%11.44%8.53%8.82%7.90%2.71%2.06%3.73%4.72%0.00%4.70%5.46%-2.22%
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Moody's Bond RatingAa1AaaAa1Aa1A1Aa2Aa2 --- ---
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S&P Bond RatingAAAAAAAAAAA+AA+AAAAAAAAAAAAAAAA+ --- ---
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Other Municipal Financial Indicators - CompsData YearNorth AndoverAndoverWinchesterTewksburyMiddletonBoxfordHaverhillBurlingtonDanversWakefieldBeverlyComparable AverageDiff from Comparable AverageRank among comparablesState Rank (of 351)
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Residential Tax Rate
(per $1000 assessed value)		2026 $ 11.24 $ 12.31 $ 11.08 $ 12.56 $ 12.59 $ 13.54 $ 10.61 $ 8.69 $ 10.65 $ 11.74 $ 10.81 $ 11.46 $ (0.22)6---
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Average Single Family Tax Bill2026 $ 9,531 $ 13,176 $ 18,272 $ 8,608 $ 12,219 $ 13,673 $ 5,962 $ 7,128 $ 7,780 $ 9,628 $ 8,834 $ 10,528 $ (997)6
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Per Capita Income2022 $ 72,749 $ 100,826 $ 150,357 $ 52,263 $ 78,161 $ 135,676 $ 35,519 $ 64,132 $ 71,055 $ 59,382 $ 64,234 $ 81,161 $ (8,412)5#N/A
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Average Tax Bill as a % of Income13.10%13.07%12.15%16.47%15.63%10.08%16.79%11.11%10.95%16.21%13.75%13.62%-0.52%6----
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EQV Per Capita 2024 $ 273,452 $ 356,875 $ 509,454 $ 246,488 $ 346,584 $ 354,379 $ 168,516 $ 389,341 $ 276,620 $ 279,787 $ 254,620 $ 318,266 $ (44,814)8130
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