Balance Sheets - USD ($) $ in Thousands	Dec. 31, 2019	Dec. 31, 2018
ASSETS
UTILITY PLANT, at original cost	$ 401,383	$ 380,784
Plant acquisition adjustments	(3,318)	(3,108)
Accumulated depreciation	(84,841)	(78,519)
Net utility plant	313,224	299,157
OTHER PHYSICAL PROPERTY, net of accumulated depreciation of $435 in 2019 and $410 in 2018	769	714
CURRENT ASSETS:
Cash and cash equivalents	2	2
Accounts receivable, net of reserves of $305 in 2019 and $305 in 2018	4,421	4,811
Unbilled revenues	2,276	2,427
Recoverable income taxes	547	0
Materials and supplies inventories, at cost	1,007	876
Prepaid expenses	1,131	895
Total current assets	9,384	9,011
OTHER LONG-TERM ASSETS:
Note receivable	255	255
Deferred regulatory assets	34,189	32,353
Other assets	5,708	3,650
Total other long-term assets	40,152	36,258
Total Assets	363,529	345,140
COMMON STOCKHOLDERS' EQUITY:
Common stock, no par value, authorized 46,500,000 shares, issued and outstanding 13,014,898 shares in 2019 and 12,943,536 shares in 2018	83,976	81,305
Retained earnings	50,209	44,890
Total common stockholders' equity	134,185	126,195
PREFERRED STOCK, authorized 500,000 shares, no shares issued	0	0
LONG-TERM DEBT, excluding current portion	94,535	93,328
COMMITMENTS
CURRENT LIABILITIES:
Short-term borrowings	0	1,000
Current portion of long-term debt	6,500	30
Accounts payable	3,452	3,030
Dividends payable	2,096	1,999
Accrued compensation and benefits	1,247	1,191
Accrued income taxes	0	150
Accrued interest	914	992
Deferred regulatory liabilities	609	2,104
Other accrued expenses	338	345
Total current liabilities	15,156	10,841
DEFERRED CREDITS:
Customers' advances for construction	7,844	6,849
Deferred income taxes	40,426	36,962
Deferred employee benefits	4,317	4,715
Deferred regulatory liabilities	24,790	24,710
Other deferred credits	2,247	1,815
Total deferred credits	79,624	75,051
Contributions in aid of construction	40,029	39,725
Total Stockholders' Equity and Liabilities	$ 363,529	$ 345,140