Summary of Significant Accounting Policies (Tables)

12 Months Ended

Jun. 30, 2016

Major classes of property, plant and equipment

Property, plant and equipment is comprised of the following major classes of assets:



($000)	2016	2015

Regulated segment
Distribution, transmission and storage	214,660	210,659
General, miscellaneous and intangibles	23,145	22,785
Construction work in progress	1,422	739
Total regulated segment	239,227	234,183

Non-regulated segment	2,607	2,597
Total property, plant and equipment	241,834	236,780

Unbilled revenues and gas costs

Unbilled revenues are included in accounts receivable on the Consolidated Balance Sheets. As of June 30, 2016, unbilled natural gas costs are included in deferred natural gas costs and as of June 30, 2015, unbilled natural gas costs are included in regulatory liability - refundable natural gas costs on the accompanying Consolidated Balance Sheets. Unbilled amounts include the following:



(000)	2016	2015

Unbilled revenues ($)	1,452	1,674
Unbilled natural gas costs ($)	319	462
Unbilled volumes (Mcf)	63	69

Regulated assets

The amounts recorded as regulatory assets and regulatory liabilities are as follows:



($000)	2016	2015

Regulatory assets
Current assets
Deferred natural gas costs	674	—

Other assets
Conservation/efficiency program expenses	243	173
Loss on extinguishment of debt	2,689	2,916
Asset retirement obligations	5,121	4,668
Accrued pension	10,828	7,161
Total other assets	18,881	14,918

Total regulatory assets	19,555	14,918

Regulatory liabilities
Current liabilities
Refundable natural gas costs	—	1

Long-term liabilities
Accrued cost of removal on long-lived assets	487	417
Regulatory liability for deferred income taxes	651	721
Total long-term liabilities	1,138	1,138

Total regulatory liabilities	1,138	1,139