BISMARCK, N.D. (AP) - North Dakota’s top budget-writer says the state is on track to have a more than $7 million deficit when the current two-year budget cycle ends in June 2017.
Office of Management and Budget Director Pam Sharp told lawmakers Thursday that the state is “out of balance.”
The deficit comes despite the cuts to government agencies, skimming profits from North Dakota’s state-owned bank and draining a rainy day fund to make up for budget shortfalls due to depressed agriculture and oil prices.
Sharp says if revenues continue to slide, Gov. Jack Dalrymple will have to address it in his executive budget to the Legislature before it convenes in January.
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