April 29, 2026
Pittsburgh, PA - Pittsburgh Water’s Board of Directors has accepted the results of the organization’s 2025 independent financial audit — resulting in a clean opinion, which is the highest level of assurance an external auditor can provide.
A clean opinion confirms that Pittsburgh Water’s financial statements are presented fairly, in all material respects, and in accordance with generally accepted accounting principles, reinforcing the organization’s commitment to transparency, accountability, and responsible use of ratepayer dollars.
“This audit reflects the strong financial foundation we’ve built to support our work,” said Pittsburgh Water CEO Will Pickering. “We are managing resources responsibly while continuing to invest in the infrastructure our customers depend on every day.”
Financial Results Show Continued Strength
The 2025 audit reflects steady financial performance and disciplined management, with continued growth in revenues, a stronger overall financial position, and improved cash reserves, aligning Pittsburgh Water more closely with other peer utilities.
Pittsburgh Water maintained healthy debt service coverage and increased its cash on hand, strengthening the organization’s ability to manage operations, respond to unexpected challenges, and support long-term investment.
Supporting Long-Term Reliability
These results come as Pittsburgh Water continues to advance its Water Reliability Plan, a multi-year effort to modernize aging infrastructure, strengthen system resilience, and protect public health.
A strong financial foundation allows Pittsburgh Water to continue making these critical investments while maintaining a balanced approach to affordability and long-term sustainability.
Commitment to Transparency and Accountability
The independent audit underscores Pittsburgh Water’s ongoing commitment to ethical practices and financial transparency, helping build trust with customers, stakeholders, and the communities it serves. For more information about Pittsburgh Water’s financial history and its operating and capital budgets, please visit www.pgh2o.com/finance.
