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Note 13 - Regulatory Assets and Liabilities

3 Months Ended

Dec. 31, 2024

Schedule of Regulatory Assets and Liabilities [Text Block]

13.

Regulatory Assets and Liabilities

The Company’s regulated operations follow the accounting and reporting requirements of ASC 980, Regulated Operations. A regulated company may defer costs that have been or are expected to be recovered from customers in a period different from the period in which the costs would ordinarily be charged to expense by an unregulated enterprise. When this situation occurs, costs are deferred as assets in the condensed consolidated balance sheet (regulatory assets) and amortized into expense over periods when such amounts are reflected in customer rates. Additionally, regulators can impose liabilities upon a regulated company for amounts previously collected from customers and for current collection in customer rates of costs that are expected to be incurred in the future (regulatory liabilities). In the event the provisions of ASC 980 no longer apply to any or all regulatory assets or liabilities, the Company would write off such amounts and include the effects in the condensed consolidated statements of income and comprehensive income in the period which ASC 980 no longer applied.

Regulatory assets included in the Company’s accompanying balance sheets are as follows:

	December 31, 2024		September 30, 2024
Assets:
Current Assets:
Regulatory assets:
Accrued WNA revenues	$	1,419,820	$	919,375
Under-recovery of gas costs		1,350,697		2,690,247
Under-recovery of RNG revenues		1,286,768		1,331,064
Under-recovery of SAVE Plan revenues		45,663		107,678
Accrued pension		32,089		42,785
Other deferred expenses		12,762		12,761
Total current		4,147,799		5,103,910
Other Non-Current Assets:
Regulatory assets:
Premium on early retirement of debt		1,113,325		1,141,872
Accrued pension		2,998,881		2,998,881
Other deferred expenses		293,584		304,291
Total non-current		4,405,790		4,445,044

Total regulatory assets	$	8,553,589	$	9,548,954

Regulatory liabilities included in the Company’s accompanying balance sheets are as follows:

	December 31, 2024		September 30, 2024
Liabilities and Stockholders' Equity:
Current Liabilities:
Regulatory liabilities:
Rate refund	$	35,877	$	37,500
Deferred income taxes		591,764		591,764
Supplier refunds		913,156		30,556
Other deferred liabilities		130,842		174,458
Total current		1,671,639		834,278
Deferred Credits and Other Non-Current Liabilities:
Regulatory cost of retirement obligations		14,823,044		14,409,847
Regulatory liabilities:
Deferred income taxes		15,320,155		15,468,096
Deferred postretirement medical		3,858,471		3,858,471
Total non-current		34,001,670		33,736,414

Total regulatory liabilities	$	35,673,309	$	34,570,692

As of December 31, 2024 and September 30, 2024, the Company had regulatory assets in the amount of $8,553,589 and $9,548,954, respectively, on which the Company did not earn a return during the recovery period.