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Hibbing PUC approves 2026 budget after reviewing 2025 financials
Summary
The Hibbing Public Utilities Commission accepted monthly financials showing a $563,000 operating loss year-to-date and approved a 2026 draft operating budget with a $237,000 operating loss and $1,000,000 in nonoperating revenue for a net $840,000 positive change in net position.
The Hibbing Public Utilities Commission reviewed monthly financials and approved the utility’s 2026 operating budget at its Nov. 18 meeting.
Mr. Peterson told the commission that the 10 months ended Oct. 31 show an operating loss of $563,000, a larger loss than the same period the previous year, and that the utility’s…
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