SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Tables)

12 Months Ended

Dec. 31, 2023

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES [Abstract]

Schedule of AFUDC

Presented in the table below is AFUDC for the years ended December 31:

In thousands
		2023		2022		2021
AFUDC - Debt	$	759	$	435	$	267
AFUDC - Equity	$	1,243	$	894	$	556

Schedule of Utility Plant

Utility plant comprises:
In thousands
			December 31,
	Estimated Useful Life (In Years)		2023		2022
Utility plant at original cost
Utility plant in service-Water
Intangible plant		—	$	140	$	140
Source of supply plant		45-85		29,960		25,223
Pumping and water treatment plant		8-62		130,337		116,915
Transmission and distribution plant
Mains		81		370,977		338,368
Services		39		60,818		56,396
Storage tanks		76		40,933		34,567
Meters		26		30,318		29,720
Hydrants		60		18,980		17,751
General plant		5-31		67,317		65,632
Utility plant in service-Wastewater
Intangible plant		—		116		117
Treatment and disposal plant		21-81		67,789		66,178
Collection mains & lift stations		81		51,539		49,431
General plant		5-31		2,478		1,845
Property held for future use		—		4,028		4,489
Construction work in progress		—		23,724		34,213
				899,454		840,985
Less – accumulated depreciation				185,170		172,954
			$	714,284	$	668,031

Amortization Period of Other Regulatory Expense

Regulatory expenses amortized on a straight-line basis are noted below:

Expense	Years Amortized
Deferred contract costs and other	5
Rate case studies	5
Delaware rate proceedings	3
Maryland rate proceedings	5
Debt related costs	15 to 30 (based on term of related debt)
Deferred costs affiliated interest agreement	20
Goodwill (resulting from acquisition of Mountain Hill Water Company in 2008)	50
Deferred acquisition costs (resulting from purchase of water assets in Cecil County, Maryland in 2011 and Port Deposit, Maryland in 2010)	20
Franchise Costs (resulting from purchase of water assets in Cecil County, Maryland in 2011)	80

Regulatory Assets, Net of Amortization, Comprise

Regulatory assets, net of amortization, comprise:

(in thousands)	December 31, 2023		December 31, 2022
Deferred contract costs and other	$	209	$	227
Rate case studies		136		57
Rate proceedings		385		—
Deferred income taxes		444		465
Debt related costs		4,322		4,682
Deferred costs affiliated interest agreement		1,110		1,114
Goodwill		258		266
Deferred acquisition and franchise costs		425		463
	$	7,289	$	7,274

Other Deferred Assets, Net of Amortization

Other deferred assets at December 31, net of amortization, comprise:

In thousands	2023		2022
Investment in CoBank	$	5,882	$	5,351
Settlement agreement receivable-long term		2,496		4,991
Other deferred assets		126		194
	$	8,504	$	10,536

Changes in Accounts Receivable

	December 31,
In thousands	2023		2022		2021
Customer accounts receivable – water	$	6,573	$	5,981	$	5,986
Customer accounts receivable – wastewater		513		482		1,326
Settlement agreement receivable – short term		2,747		2,532		—
Miscellaneous accounts receivable		1,236		3,781		786
Developer receivable		2,089		1,151		698
		13,158		13,927		8,796
Less provision for expected credit loss		328		416		429
Net accounts receivable	$	12,830	$	13,511	$	8,367

Provision for Expected Credit Loss

The activities in the provision for expected credit loss are as follows:

	December 31,
In thousands	2023			2022
Beginning balance	$	416		$	429
Provision adjustments		92			146
Recoveries		48			28
Write off of uncollectible accounts		(228	)		(187	)
Ending balance	$	328		$	416