SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Tables)

12 Months Ended

Dec. 31, 2024

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES [Abstract]

Schedule of AFUDC

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

In thousands
		2024		2023		2022
AFUDC - Debt	$	509	$	759	$	435
AFUDC - Equity	$	1,135	$	1,243	$	894

Schedule of Utility Plant

Utility plant comprises:
In thousands
	Estimated Useful Life (In Years)				Estimated Useful Life (In Years)
	Effective June 12, 2024		December 31, 2024				December 31, 2023
Utility plant at original cost
Utility plant in service-Water
Intangible plant		—	$	140		—	$	140
Source of supply plant		45-85		30,320		45-85		29,960
Pumping and water treatment plant		15-64		130,226		8-62		130,337
Transmission and distribution plant
Mains		73-81		390,741		81		370,977
Services		39-58		63,613		39		60,818
Storage tanks		70-76		39,760		76		40,933
Meters		16-26		30,223		26		30,318
Hydrants		60-68		20,158		60		18,980
General plant		5-81		59,634		5-31		67,317
Utility plant in service-Wastewater
Intangible plant		—		116		—		116
Treatment and disposal plant		20-81		71,332		20-81		67,789
Collection mains & lift stations		70-81		57,084		70-81		51,539
General plant		5-31		2,632		5-31		2,478
Property held for future use		—		3,742		—		4,028
Construction work in progress		—		39,718		—		23,724
				939,439				899,454
Less – accumulated depreciation				192,253				185,170
			$	747,186			$	714,284

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
Debt related costs	15 to 30 (based on term of related debt)
Deferred costs affiliated interest agreement	20
Goodwill (Mountain Hill Water Company acquisition in 2008)	50
Deferred acquisition and franchise costs - Maryland	20 – 80
Deferred acquisition costs – Delaware	20
Deferred acquisition adjustments - Delaware	36 – 62
Unrecovered reserve for depreciation (general plant assets)	5

Regulatory Assets, Net of Amortization, Comprise

Regulatory assets, net of amortization, comprise:

(in thousands)	December 31, 2024		December 31, 2023
Deferred contract costs and other	$	161	$	209
Rate case studies		141		166
Delaware rate proceedings		474		355
Deferred income taxes		423		444
Debt related costs		3,969		4,322
Deferred costs affiliated interest agreement		1,054		1,110
Goodwill		251		258
Deferred acquisition and franchise costs - Maryland		499		425
Deferred acquisition costs – Delaware		231		—
Deferred acquisition adjustments – Delaware		3,359		—
Unrecovered reserve for depreciation		3,866		—
	$	14,428	$	7,289

Other Deferred Assets, Net of Amortization

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

In thousands	2024		2023
Investment in CoBank	$	6,425	$	5,882
Settlement agreement receivable-long term		—		2,496
Other deferred assets		100		126
	$	6,525	$	8,504

Changes in Accounts Receivable

	December 31,
In thousands	2024		2023		2022
Customer accounts receivable – water	$	6,824	$	6,573	$	5,981
Customer accounts receivable – wastewater		928		869		767
Customer accounts receivable – SLP Plan		470		409		384
Settlement agreement receivable – short term		2,523		2,747		2,532
Developer receivable		837		2,089		1,151
Miscellaneous accounts receivable		100		471		3,112
		11,682		13,158		13,927
Less provision for expected credit loss		343		328		416
Net accounts receivable	$	11,339	$	12,830	$	13,511

Provision for Expected Credit Loss

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

	December 31,
In thousands	2024			2023
Beginning balance	$	328		$	416
Provision adjustments		204			92
Recoveries		29			48
Write off of uncollectible accounts		(218	)		(228	)
Ending balance	$	343		$	328