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RESTRICTED CASH
6 Months Ended
Mar. 31, 2025
Cash and Cash Equivalents [Abstract]  
RESTRICTED CASH

NOTE 6 – RESTRICTED CASH

 

A subsidiary of the Company participates in a consortium in order to self-insure group care coverage for its employees. The plan is administrated by Benecon Group and the Company makes monthly deposits in a trust account to cover medical claims and any administrative costs associated with the plan. These funds, as required by the plan, are restricted in nature and amounted to $1,066,205 at March 31, 2025, and $1,030,606 at September 30, 2024. Additionally, there was $100,000 of restricted cash in escrow per the purchase agreement with Heisey Mechanical, Ltd, as of March 31, 2025 and September 30, 2024, an additional $296,750 and $325,340 in escrow related to bond requirements on certain public projects as of March 31, 2025, and September 30, 2024, respectively, and $64,673 and $66,935 in deposit guarantees as of March 31, 2025, and September 30, 2024, respectively.