The Jamestown Board of Public Utilities has heard overall positive results coming from their annual Year-End Financial Audit for 2024.

The results were given by representatives of Buffamante Whipple Buttafaro during the April meeting of the BPU. Danna Isaman and James Alexander from BWB were in attendance at the meeting and went over the results with the board.

“For each of the five divisions we’re issuing an unmodified opinion, which is the highest level of opinion you can receive,” Isaman said. “So as far as audit services, this is the best possible outcome. So, very nice job to everybody involved in making that happen and accomplishing those positive results.”

Isaman provided examples of how for each of the BPU’s five divisions the revenues matched up with expenditures for 2024. For the electric division she said it was a pretty decent year, adding about $3.6 million to the net position compared to the $5.7 million last year. Isaman reported that operating revenues for electric are fairly consistent, and that expenditures increased significantly due to increases in purchase power.

In the water division, Isaman said the bottom line for revenues was around $85,000, compared to the year before’s $490,000.

“So basically we are just about breaking even,” Isaman said. “Looking at the past five years, obviously 2022 really jumps out at you, it’s kind of the outlier here, we had a significant jump in revenues that year because we had a pretty sizable grant that we were awarded, which is around $2.2 million. So, taking that out of the equation the last few years have actually been pretty comparable.”

The wastewater division noted a loss in 2024, with revenues coming in around $90,000 compared to the year before’s $370,000. Expenses stayed relatively flat while revenues increased slightly, mostly due to increases in wastewater deliveries.

Solid waste saw a surplus of $160,000 with just under $100,000 the year before. Isaman said this division remained relatively stable and basically breaking even as well. District heat was also just about breaking even, with a net surplus of $200,000 in 2024.

“Essentially things were up this year due to an increase in heat sales and an increase in rates,” Isaman said. “And then our costs came down a little bit due to basically the decrease in cost of natural gas in 2024 versus 2023.”

After the financial piece, Isaman reviewed the audit highlights, which included the government’s letter, or the letter BWB sends to government financial agencies, and the management letter, or recommendations made to BPU management on different items from the audit.

Isaman commended the management team of the BPU, saying that it is clear that they take the audit process seriously, which means a lot to them.

Kevin Karr, BPU finance and customer accounts manager, thanked Isaman and BWB for their thorough and hard work on the audit, describing the process they go through and saying that they do a good job and are great to work with. General Manager David Leathers said everyone does a great job and that the BPU is very happy with the audit results.