|Financial Audit Division Report 06-19||Released July 14, 2006|
In general, the commission accurately recorded its revenues and expenditures in the state’s accounting system and adequately safeguarded its fine and assessment revenues. However, we identified several concerns that need to be addressed by the commission.
The Public Utilities Commission is a regulatory agency with jurisdiction over electric, natural gas, and telecommunications utilities in Minnesota. Revenues and expenditures totaled $6.1 million and $5.6 million, respectively, for fiscal year 2005.