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Worcester closes FY25 with revenues slightly above expectations, permit fees and interest income cited as drivers
Summary
Timothy McGurthy, chief financial officer for Worcester City, told the municipal and legislative operations subcommittee on Oct. 28 that fiscal year 2025 finished "strong."
Timothy McGurthy, chief financial officer for Worcester City, told the municipal and legislative operations subcommittee on Oct. 28 that fiscal year 2025 finished "strong." "Our revenues were at about a 101% of expectations," McGurthy said, and "our expenses were about 99% of expectations." He added that, overall, revenues exceeded expenses by a small margin.
McGurthy said several local revenue categories outperformed expectations. He told the committee that interest income has…
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