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SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Tables)

12 Months Ended

Dec. 31, 2015

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES [Abstract]

Schedule of Utility Plant

Utility plant comprises:
In thousands
						December 31,
		Estimated Useful Life (In Years)				2015				2014
Utility plant at original cost
Utility plant in service-Water
Intangible plant			—			$	140			$	140
Source of supply plant			45-85				19,313				19,029
Pumping and water treatment plant			8-62				77,221				73,432
Transmission and distribution plant
Mains			81				224,104				216,174
Services			39				36,060				34,708
Storage tanks			76				23,992				23,943
Meters			26				24,150				22,460
Hydrants			60				12,037				11,540
General plant			3-31				52,434				52,081
Utility plant in service-Wastewater
Treatment and disposal plant			35-62				14,012				12,815
Collection mains & lift stations			81				7,833				6,900
General plant			3-31				906				883
Property held for future use			—				14,345				14,440
Construction work in progress			—				3,809				3,180
							510,356				491,725
Less – accumulated depreciation							104,750				97,932
						$	405,606			$	393,793

Regulatory Assets, Net of Amortization

Regulatory assets at December 31, net of amortization, comprise:

In thousands		2015				2014
Postretirement benefit obligation		$	329			$	384
Deferred income taxes			446				461
Goodwill			318				325
Deferred acquisition and franchise costs			720				756
Expense of rate and regulatory proceedings			616				635
Regulatory assets, net		$	2,429			$	2,561

Other Deferred Assets, Net of Amortization

Other deferred assets at December 31, net of amortization, comprise:

In thousands		2015				2014
Debt issuance cost		$	1,747			$	1,869
Investment in CoBank			3,023				2,851
Other			421				461
		$	5,191			$	5,181

Weighted-average Assumptions Used for Grants Issued

	2014			2013
Expected Dividend Yield		3.88%			3.63%
Expected Stock Price Volatility		26.50%			26.16%
Weighted Average Risk Free Interest Rate		2.24%			1.68%
Weighted Average Expected Life of Options (in years)		7.52			9.41

Changes in Accounts Receivable

	December 31,
In thousands	2015				2014				2013
Customer accounts receivable – water		$	5,017			$	4,020			$	3,902
Contractual amounts due from developers and other			1,610				1,295				1,434
			6,627				5,315				5,336
Less allowance for doubtful accounts			277				250				221
Net accounts receivable		$	6,350			$	5,065			$	5,115

Allowance for Doubtful Accounts

The activities in the allowance for doubtful accounts are as follows:

	December 31,
In thousands	2015				2014				2013
Beginning balance		$	250			$	221			$	241
Allowance adjustments			205				194				180
Recoveries			53				64				115
Write off of uncollectible accounts			(231	)			(229	)			(315	)
Ending balance		$	277			$	250			$	221

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