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Note 14 - Leases | 12 Months Ended
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Sep. 30, 2023
Notes to Financial Statements |
Lessee, Operating Leases [Text Block] |
14. | LEASES
During 2023, the Company entered into a land lease in conjunction with its RNG facility that has a 20-year term with two five-year Company renewal options that are not considered part of the ROU asset and liability as the decision to elect options will be made in the future. The Company also has three other operating leases with original terms ranging from 3 to 6 years. The operating lease ROU assets of $361,724 are reflected in other non-current assets in the consolidated balance sheets. The current operating lease liabilities of $30,281 and non-current lease liabilities of $323,168 are included in other current liabilities and deferred credits and other non-current liabilities, respectively, in the consolidated balance sheets. The cost components of the Company’s operating leases are included under operations and maintenance expense in the consolidated statements of income and were less than $50,000 for each period presented. Other information related to leases were as follows:
|  | 2023 |  |  | 2022 |
Supplemental Cash Flow Information: |  |  |  |  |  |  |  |
Cash paid on operating leases |  | $ | 48,900 |  |  | $ | 22,500 |
Right of use obtained in exchange for operating lease obligations |  |  | 325,688 |  |  |  | — |
Weighted-average remaining term (in years) |  |  | 17.4 |  |  |  | 3.1 |
Weighted-average discount rate |  |  | 5.65 | % |  | N/A |
On September 30, 2023, the future minimum rental payments under non-cancelable operating leases were as follows:
2024 |  | $ | 49,065 |
2025 |  |  | 43,065 |
2026 |  |  | 30,038 |
2027 |  |  | 30,038 |
2028 |  |  | 26,400 |
Thereafter |  |  | 369,600 |
Total minimum lease payments |  |  | 548,206 |
Less imputed interest |  |  | (194,757 | )
Total |  | $ | 353,449 |

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- Definition The entire disclosure for operating leases of lessee. Includes, but is not limited to, description of operating lease and maturity analysis of operating lease liability. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 842 -SubTopic 20 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org//842-20/tableOfContent + Details
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