Get Full Government Meeting Transcripts, Videos, & Alerts Forever!
Wausau Water Utility posts higher 2024 net income after state loan forgiveness, PSC filing shows
Summary
The Wausau Waterworks Commission reviewed its 2024 Public Service Commission filing showing higher net income driven by rate changes and $6.5 million in state principal forgiveness for a granular activated carbon project; commissioners also heard updates on meter replacements and system water loss.
Finance Director Groth told the Wausau Waterworks Commission on July 8 that the utility reported higher 2024 net income in its annual Public Service Commission filing, driven by a full year of final water rates and $6.5 million in state principal forgiveness tied to the GAC project.
The PSC filing shows operating revenue rose to roughly $12 million in 2024 and net income increased to about $5.1 million, Groth said. He told commissioners the $6.5 million principal forgiveness was recorded as miscellaneous nonoperating revenue because the loan for the GAC (granular activated carbon) project included a forgiveness component from the state.
That principal forgiveness and the full-year effect of…
Already have an account? Log in
Subscribe to keep reading
Unlock the rest of this article — and every article on Citizen Portal.
- Unlimited articles
- AI-powered breakdowns of topics, speakers, decisions, and budgets
- Instant alerts when your location has a new meeting
- Follow topics and more locations
- 1,000 AI Insights / month, plus AI Chat
