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SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Tables) | 12 Months Ended
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Dec. 31, 2024
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES [Abstract] |
Schedule of AFUDC | Presented in the table below is AFUDC for the years ended December 31:
In thousands |  |  |  |  |  |  |  |
|  | 2024 |  |  | 2023 |  |  | 2022
AFUDC - Debt | $ | 509 |  | $ | 759 |  | $ | 435
AFUDC - Equity | $ | 1,135 |  | $ | 1,243 |  | $ | 894
Schedule of Utility Plant |
Utility plant comprises: |  |  |  |  |  |  |  |  |  |  |  |
In thousands |  |  |  |  |  |  |  |  |  |  |  |
|  | Estimated Useful Life (In Years) |  |  |  |  |  | Estimated Useful Life (In Years) |  |  |  |
|  | Effective June 12, 2024 |  |  | December 31, 2024 |  |  |  |  |  | December 31, 2023 |
Utility plant at original cost |  |  |  |  |  |  |  |  |  |  |  |
Utility plant in service-Water |  |  |  |  |  |  |  |  |  |  |  |
Intangible plant |  |  | — |  |  | $ | 140 |  |  |  | — |  |  | $ | 140 |
Source of supply plant |  |  | 45-85 |  |  |  | 30,320 |  |  |  | 45-85 |  |  |  | 29,960 |
Pumping and water treatment plant |  |  | 15-64 |  |  |  | 130,226 |  |  |  | 8-62 |  |  |  | 130,337 |
Transmission and distribution plant |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Mains |  |  | 73-81 |  |  |  | 390,741 |  |  |  | 81 |  |  |  | 370,977 |
Services |  |  | 39-58 |  |  |  | 63,613 |  |  |  | 39 |  |  |  | 60,818 |
Storage tanks |  |  | 70-76 |  |  |  | 39,760 |  |  |  | 76 |  |  |  | 40,933 |
Meters |  |  | 16-26 |  |  |  | 30,223 |  |  |  | 26 |  |  |  | 30,318 |
Hydrants |  |  | 60-68 |  |  |  | 20,158 |  |  |  | 60 |  |  |  | 18,980 |
General plant |  |  | 5-81 |  |  |  | 59,634 |  |  |  | 5-31 |  |  |  | 67,317 |
Utility plant in service-Wastewater |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Intangible plant |  |  | — |  |  |  | 116 |  |  |  | — |  |  |  | 116 |
Treatment and disposal plant |  |  | 20-81 |  |  |  | 71,332 |  |  |  | 20-81 |  |  |  | 67,789 |
Collection mains & lift stations |  |  | 70-81 |  |  |  | 57,084 |  |  |  | 70-81 |  |  |  | 51,539 |
General plant |  |  | 5-31 |  |  |  | 2,632 |  |  |  | 5-31 |  |  |  | 2,478 |
Property held for future use |  |  | — |  |  |  | 3,742 |  |  |  | — |  |  |  | 4,028 |
Construction work in progress |  |  | — |  |  |  | 39,718 |  |  |  | — |  |  |  | 23,724 |
|  |  |  |  |  |  | 939,439 |  |  |  |  |  |  |  | 899,454 |
Less – accumulated depreciation |  |  |  |  |  |  | 192,253 |  |  |  |  |  |  |  | 185,170 |
|  |  |  |  |  | $ | 747,186 |  |  |  |  |  |  | $ | 714,284 |
Amortization Period of Other Regulatory Expense | Regulatory expenses amortized on a straight-line basis are noted below:
Expense | Years Amortized
Deferred contract costs and other | 5
Rate case studies | 5
Delaware rate proceedings | 3
Debt related costs | 15 to 30 (based on term of related debt)
Deferred costs affiliated interest agreement | 20
Goodwill (Mountain Hill Water Company acquisition in 2008) | 50
Deferred acquisition and franchise costs - Maryland | 20 – 80
Deferred acquisition costs – Delaware | 20
Deferred acquisition adjustments - Delaware | 36 – 62
Unrecovered reserve for depreciation (general plant assets) | 5
Regulatory Assets, Net of Amortization, Comprise | Regulatory assets, net of amortization, comprise:
(in thousands) | December 31, 2024 |  | December 31, 2023
Deferred contract costs and other | $ | 161 |  | $ | 209
Rate case studies |  | 141 |  |  | 166
Delaware rate proceedings |  | 474 |  |  | 355
Deferred income taxes |  | 423 |  |  | 444
Debt related costs |  | 3,969 |  |  | 4,322
Deferred costs affiliated interest agreement |  | 1,054 |  |  | 1,110
Goodwill |  | 251 |  |  | 258
Deferred acquisition and franchise costs - Maryland |  | 499 |  |  | 425
Deferred acquisition costs – Delaware |  | 231 |  |  | —
Deferred acquisition adjustments – Delaware |  | 3,359 |  |  | —
Unrecovered reserve for depreciation |  | 3,866 |  |  | —
| $ | 14,428 |  | $ | 7,289
Other Deferred Assets, Net of Amortization | Other deferred assets at December 31, net of amortization, comprise:
In thousands |  | 2024 |  |  | 2023 |
Investment in CoBank |  | $ | 6,425 |  |  | $ | 5,882 |
Settlement agreement receivable-long term |  |  | — |  |  |  | 2,496 |
Other deferred assets |  |  | 100 |  |  |  | 126 |
|  | $ | 6,525 |  |  | $ | 8,504 |
Changes in Accounts Receivable |
|  | December 31, |
In thousands |  | 2024 |  |  | 2023 |  |  | 2022 |
Customer accounts receivable – water |  | $ | 6,824 |  |  | $ | 6,573 |  |  | $ | 5,981 |
Customer accounts receivable – wastewater |  |  | 928 |  |  |  | 869 |  |  |  | 767 |
Customer accounts receivable – SLP Plan |  |  | 470 |  |  |  | 409 |  |  |  | 384 |
Settlement agreement receivable – short term |  |  | 2,523 |  |  |  | 2,747 |  |  |  | 2,532 |
Developer receivable |  |  | 837 |  |  |  | 2,089 |  |  |  | 1,151 |
Miscellaneous accounts receivable |  |  | 100 |  |  |  | 471 |  |  |  | 3,112 |
|  |  | 11,682 |  |  |  | 13,158 |  |  |  | 13,927 |
Less provision for expected credit loss |  |  | 343 |  |  |  | 328 |  |  |  | 416 |
Net accounts receivable |  | $ | 11,339 |  |  | $ | 12,830 |  |  | $ | 13,511 |
Provision for Expected Credit Loss | The activities in the provision for expected credit loss are as follows:
|  | December 31, |
In thousands |  | 2024 |  |  | 2023 |
Beginning balance |  | $ | 328 |  |  | $ | 416 |
Provision adjustments |  |  | 204 |  |  |  | 92 |
Recoveries |  |  | 29 |  |  |  | 48 |
Write off of uncollectible accounts |  |  | (218 | ) |  |  | (228 | )
Ending balance |  | $ | 343 |  |  | $ | 328 |

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