XML 19 R8.htm IDEA: XBRL DOCUMENT v3.24.2.u1
Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
 9 Months Ended
Jun. 30, 2024
Jun. 30, 2023
CASH FLOWS FROM OPERATING ACTIVITIES:    
Net income $ 11,620,074 $ 10,285,107
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 8,285,761 7,431,251
Cost of retirement of utility property (485,165) (627,225)
Amortization of stock option grants 51,500 21,560
Equity in earnings of unconsolidated affiliate (2,979,823) (523,581)
Allowance for funds used during construction 0 (184,619)
Changes in assets and liabilities which provided cash, exclusive of changes and noncash transactions shown separately 563,839 7,231,786
Net cash provided by operating activities 17,056,186 23,634,279
CASH FLOWS FROM INVESTING ACTIVITIES:    
Expenditures for utility property (16,568,542) (19,368,974)
Investment in unconsolidated affiliates (8,743) (2,132,679)
Proceeds from disposal of utility property 33,023 37,674
Net cash used in investing activities (16,544,262) (21,463,979)
CASH FLOWS FROM FINANCING ACTIVITIES:    
Proceeds from issuance of unsecured notes 10,115,000 1,103,800
Repayments of notes payable (10,175,000) (775,000)
Borrowings under line-of-credit 34,622,405 26,946,775
Repayments under line-of-credit (31,360,152) (26,946,775)
Debt issuance expenses (99,390) (10,749)
Proceeds from issuance of stock (3,461,175) (3,626,683)
Cash dividends paid (6,047,300) (5,832,842)
Net cash provided by (used in) financing activities 516,738 (1,888,108)
NET INCREASE IN CASH AND CASH EQUIVALENTS 1,028,662 282,192
BEGINNING CASH AND CASH EQUIVALENTS 1,512,431 4,898,914
ENDING CASH AND CASH EQUIVALENTS 2,541,093 5,181,106
SUPPLEMENTAL DISCLOSURE OF CASH FLOW INFORMATION:    
Interest 4,604,431 4,333,580
Income taxes $ 2,640,000 $ 1,623,145