Government
Budget Forecast Good for 2024, but Manager Sees Gloomy Conditions in Future
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Watertown’s budget will be healthy enough to add several positions in Fiscal Year 2024, but City Manager George Proakis told the City Council Tuesday night to expect some challenging budgets in the years to follow. The FY24 budget, which will be approved by the Council in June and begins July 1, will be $190 million. This is 5.9 percent below the FY23 budget, but Proakis said if you take out the money used to purchase Walkers Pond and the former Parker School, it would be 6.99 percent higher than FY23. The stormy seas ahead are due to five converging forces, Proakis said, and they could impact the budgets from FY25-28. The first factor is the cost of construction, which comes at a time when Watertown is taking on the biggest in its history: a new high school which will cost more than $200 million.







