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West Haven finance director: quarterly tax billing linked to a rise in delinquencies as interest income falls
Summary
Finance Director Michael Gormani told the council’s finance committee that October revenues and expenditures were "on par," but lower interest income and the new quarterly property-tax billing have driven increased delinquencies; staff will monitor trends, review the payment website and promote Everbridge sign-ups.
West Haven — Finance Director Michael Gormani told the finance committee on Nov. 24 that the city’s October 2025 monthly report showed revenues and expenditures "on par" but flagged a drop in interest revenue and an uptick in delinquencies after the shift to quarterly property-tax billing.
"As of October 2025, we were looking on par between revenues and expenditures, within the October 2025 monthly report," Gormani said as he reviewed the general fund, fire district and sewer fund positions and local revenue trends.
Why it matters: the city budgeted $2,400,000 in interest income for the fiscal year; as of October Gormani said the projection was closer to $2,000,000, creating a…
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