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Hibbing Public Utilities posts first positive operating income since 2019; commission approves interim financials
Summary
Commissioners approved interim 2024 financial statements after staff reported improved operating income and a $2.3 million increase in net position; manager cautioned audit adjustments could reduce reported gains.
Hibbing Public Utilities staff reported the utility posted its first slightly positive operating income since 2019, and the commission approved interim 2024 financial statements at its Jan. 21 meeting.
General Manager Mr. Peterson told commissioners the utility recorded about $2,300,000 in total net position improvements in 2024, up from roughly $1,600,000 the prior year, and described the positive operating income as the result…
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