August 11, 2020
City looks at $2.84 million deficit in preliminary budget
By Neal A. Shipman
Farmer Editor
Watford City will not be doing new projects in 2021 and city employees will not be receiving a cost of living increase as the city continues to tighten its belt due to the decline in the amount of Gross Production Tax (GPT) revenues it receives.
Those changes are reflected in a $50.59 million preliminary budget that was approved by the Watford City City Council on Monday, Aug. 3. But even with trimming its budget, the city is projecting a $2.84 million budget deficit.
“We have the cash on hand to handle the deficit,” states Laura Dokken, city finance director. “We’re watching our dollars and where we spend them. But we need to have the price of oil stabilize.”