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Hibbing PUC approves clean 2024 audit and April interim financials; staff explains delayed contractor invoices
Summary
The commission approved Hibbing Public Utilities’ 2024 audited financial statements and April 2025 interim financials, and discussed delayed contractor invoices linked to DocuSign processing and PFA reimbursement timing.
The Hibbing Public Utilities Commission on May 27 approved the utility’s 2024 audited financial statements and accepted interim financials for the four months ended April 30, 2025.
Commissioners heard from Mr. Peterson that the 2024 audit, prepared by ABDO (auditor Bonnie Schweiger), showed no recommendations or qualifications and marked the first year in decades the utility did not report a negative operating loss. The commission voted to approve the audit after a brief discussion.
The meeting also included a review and approval of the April 2025 interim financials. Mr. Peterson told commissioners the utility’s year-to-date results were stronger than the same period in 2024, noting…
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