All five of the Board of Public Utilities’ divisions showed positive financial results according to the organization’s recently completed 2025 audit.

BPU board members recently received the audit from BWB. Kevin Karr, finance and customs account manager, introduced Dana Eisman with BWB, who then presented the audit. Eisman began with some of the reports and letters issued from the audit, including the independent auditors report.

“This is where we provide an opinion as to whether or not we feel the financial statements are fairly stated in accordance with the standards … so I’m happy to say we are issuing an unmodified opinion,” Eisman said. “That’s the highest level of opinion you can receive when you have an audit, so really great job to Kevin (Karr) and his team and everyone involved.”

Eisman went over some financial highlights for each BPU division, starting with electric. For revenues and expenditures, Eisman showed a basic chart and reported that in the electric division there have been two positive years back to back. An increase has been seen in revenues and expenditures are up as well.

For the water division, Eisman said for 2024 and 2025 the division was right about breaking even. In the division’s chart she pointed out a significant outlier in 2022 when a grant was received by the BPU. The wastewater division reported a positive year for 2025, and Eisman noted wastewater expenses have been relatively flat since 2023. For 2025 in the solid waste division the BPU saw a net surplus of $500,000, compared to the $160,000 the year before. This is mostly related to a grant that the BPU was able to obtain that was used to purchase vehicles.

For the last division, District Heat, the BPU saw a net surplus of $300,000 compared to $200,000 the year before, again showing what Eisman called two decent years back to back.

Eisman then moved into audit highlights, including items such as the governance letter that gets sent out. The governance letter is the letter sent out to those in charge of governing in connection to the audit, Eisman said. The letter also includes a summary of things included in the audit.

The last letter sent out is the management letter, which Eisman said is a listing of recommendations for potential improvements that could be made after the audit.

“A lot of these comments were also reported on last year,” Eisman said. “Ultimately it’s management’s decision. We’ll continue to evaluate and they’ll make the determination whether these are items you want to implement.”