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Note 14 - Leases

12 Months Ended

Sep. 30, 2023

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