Watertown’s Preliminary FY20 Budget Pays off Retirement Deficits, Funds School Projects

Watertown’s budget for the Fiscal Year beginning July 2019 will be $4 million more than the current fiscal year, and include a significant increase for the Watertown Public Schools and funding for the elementary school building projects. 

The budget figure for the Fiscal Year 2020 preliminary budget, presented by Town Manager Michael Driscoll Tuesday night, is $147 million. Currently, the revenues in the preliminary budget would fall about $820,000 short of the projected expenditures, but Driscoll said that he has used conservative estimates for revenues, including State Aid. “We have a challenge of $820,000,” Driscoll said. “By the time the budget is approved, either revenues will go up, expenditures will go down, or a combination of the two.” The budget includes a 5 percent increase for the Watertown Public Schools, up to $50.4 million, and a 2.5 percent increase for the Municipal departments, Driscoll said.