RGC Resources (RGCO) 10-Q 4 Aug 16 2016 Q3 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	9 Months Ended
	Jun. 30, 2016	Jul. 31, 2016
Document And Entity Information [Abstract]
Document Type	10-Q
Amendment Flag	false
Document Period End Date	Jun. 30, 2016
Document Fiscal Year Focus	2,016
Document Fiscal Period Focus	Q3
Entity Registrant Name	RGC RESOURCES INC
Entity Central Index Key	1,069,533
Current Fiscal Year End Date	--09-30
Entity Filer Category	Accelerated Filer
Entity Common Stock, Shares Outstanding		4,778,687

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets - USD ($)	Jun. 30, 2016	Sep. 30, 2015
CURRENT ASSETS:
Cash and cash equivalents	$ 904,833	$ 985,234
Accounts receivable (less allowance for uncollectibles of $219,367 and $52,721, respectively)	4,107,605	3,196,573
Materials and supplies	999,173	968,108
Gas in storage	4,304,256	8,160,498
Prepaid income taxes	1,053,975	1,657,066
Other	1,196,516	1,182,343
Total current assets	12,566,358	16,149,822
UTILITY PROPERTY:
In service	178,461,799	168,033,032
Accumulated depreciation and amortization	(55,570,202)	(53,307,079)
In service, net	122,891,597	114,725,953
Construction work in progress	4,981,230	3,903,599
Utility plant, net	127,872,827	118,629,552
OTHER ASSETS:
Regulatory assets	11,126,378	10,923,243
Investment in unconsolidated affiliate	3,428,411	0
Other	102,910	144,577
Total other assets	14,657,699	11,067,820
TOTAL ASSETS	155,096,884	145,847,194
CURRENT LIABILITIES:
Borrowings under line-of-credit	8,127,832	9,340,997
Dividends payable	967,774	912,995
Accounts payable	5,052,772	5,141,677
Capital contributions payable	1,059,890	0
Customer credit balances	897,261	1,560,351
Income taxes payable	74,309	0
Customer deposits	1,694,431	1,579,441
Accrued expenses	2,463,659	2,766,097
Over-recovery of gas costs	2,668,620	1,901,426
Total current liabilities	23,006,548	23,202,984
LONG-TERM DEBT:
Principal amount	33,096,200	30,500,000
Less unamortized debt issuance costs	(267,644)	(183,427)
Long-term debt net of unamortized debt issuance costs	32,828,556	30,316,573
DEFERRED CREDITS AND OTHER LIABILITIES:
Asset retirement obligations	5,437,743	5,295,868
Regulatory cost of retirement obligations	9,402,871	8,885,486
Benefit plan liabilities	10,510,000	10,685,261
Deferred income taxes	17,362,864	14,620,031
Total deferred credits and other liabilities	42,713,478	39,486,646
STOCKHOLDERS’ EQUITY:
Common stock, $5 par value; authorized 10,000,000 shares; issued and outstanding 4,777,668 and 4,741,498, respectively	23,888,340	23,707,490
Preferred stock, no par, authorized 5,000,000 shares; no shares issued and outstanding	0	0
Capital in excess of par value	9,305,634	8,647,669
Retained earnings	25,538,006	22,772,377
Accumulated other comprehensive loss	(2,183,678)	(2,286,545)
Total stockholders’ equity	56,548,302	52,840,991
TOTAL LIABILITIES AND STOCKHOLDERS’ EQUITY	$ 155,096,884	$ 145,847,194

Condensed Consolidated Balance3

Condensed Consolidated Balance Sheets (Parenthetical) - USD ($)	Jun. 30, 2016	Sep. 30, 2015
Statement of Financial Position [Abstract]
Accounts receivable, allowance for uncollectibles	$ 219,367	$ 52,721
Common stock, par value (in dollars per share)	$ 5	$ 5
Common stock, shares authorized	10,000,000	10,000,000
Common stock, shares issued	4,777,668	4,741,498
Common stock, share outstanding	4,777,668	4,741,498
Preferred stock, par value (in dollars per share)	$ 0	$ 0
Preferred stock, shares authorized	5,000,000	5,000,000
Preferred stock, shares issued	0	0
Preferred stock, share outstanding	0	0

Condensed Consolidated Statemen

Condensed Consolidated Statements of Income - USD ($)	3 Months Ended		9 Months Ended
	Jun. 30, 2016	Jun. 30, 2015	Jun. 30, 2016	Jun. 30, 2015
OPERATING REVENUES:
Gas utilities	$ 11,017,281	$ 10,524,512	$ 48,372,615	$ 57,591,940
Other	277,916	249,897	710,411	864,263
Total operating revenues	11,295,197	10,774,409	49,083,026	58,456,203
COST OF SALES:
Gas utilities	4,833,604	4,698,379	23,037,896	33,229,634
Other	149,253	114,202	345,405	428,828
Total cost of sales	4,982,857	4,812,581	23,383,301	33,658,462
GROSS MARGIN	6,312,340	5,961,828	25,699,725	24,797,741
OTHER OPERATING EXPENSES:
Operations and maintenance	3,060,435	3,323,533	9,868,164	10,371,812
General taxes	413,711	398,447	1,281,312	1,233,002
Depreciation and amortization	1,384,844	1,283,629	4,154,533	3,842,887
Total other operating expenses	4,858,990	5,005,609	15,304,009	15,447,701
OPERATING INCOME	1,453,350	956,219	10,395,716	9,350,040
Equity in earnings of unconsolidated affiliate	40,562	0	95,945	0
Other expense, net	39,151	21,143	71,460	33,956
Interest expense	396,304	358,850	1,220,600	1,141,079
INCOME BEFORE INCOME TAXES	1,058,457	576,226	9,199,601	8,175,005
INCOME TAX EXPENSE	431,389	221,286	3,538,296	3,116,345
NET INCOME	$ 627,068	$ 354,940	$ 5,661,305	$ 5,058,660
BASIC EARNINGS PER COMMON SHARE (in dollars per share)	$ 0.13	$ 0.08	$ 1.19	$ 1.07
DILUTED EARNINGS PER COMMON SHARE (in dollars per share)	0.13	0.07	1.19	1.07
DIVIDENDS DECLARED PER COMMON SHARE (in dollars per share)	$ 0.2025	$ 0.1925	$ 0.6075	$ 0.5775

Condensed Consolidated Stateme5

Condensed Consolidated Statements of Comprehensive Income - USD ($)	3 Months Ended		9 Months Ended
	Jun. 30, 2016	Jun. 30, 2015	Jun. 30, 2016	Jun. 30, 2015
Statement of Comprehensive Income [Abstract]
NET INCOME	$ 627,068	$ 354,940	$ 5,661,305	$ 5,058,660
Other comprehensive income, net of tax:
Defined benefit plans	34,289	9,340	102,867	28,020
OTHER COMPREHENSIVE INCOME, NET OF TAX	34,289	9,340	102,867	28,020
COMPREHENSIVE INCOME	$ 661,357	$ 364,280	$ 5,764,172	$ 5,086,680

Condensed Consolidated Stateme6

Condensed Consolidated Statements of Cash Flows - USD ($)	9 Months Ended
	Jun. 30, 2016	Jun. 30, 2015
CASH FLOWS FROM OPERATING ACTIVITIES:
Net income	$ 5,661,305	$ 5,058,660
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization	4,245,223	3,927,080
Cost of removal of utility plant, net	(291,620)	(284,298)
Stock option grants	64,640	83,640
Equity in earnings of unconsolidated affiliate	(95,945)	0
Changes in assets and liabilities which used cash, exclusive of changes and noncash transactions shown separately	5,951,846	11,402,734
Net cash provided by operating activities	15,535,449	20,187,816
CASH FLOWS FROM INVESTING ACTIVITIES:
Additions to utility plant and nonutility property	(12,558,509)	(9,989,394)
Investment in unconsolidated affiliate	(2,272,576)	0
Proceeds from disposal of equipment	543	27,724
Net cash used in investing activities	(14,830,542)	(9,961,670)
CASH FLOWS FROM FINANCING ACTIVITIES:
Proceeds from issuance of long-term debt	2,596,200	0
Borrowings under line-of-credit agreement	26,452,983	23,471,147
Repayments under line-of-credit agreement	(27,666,149)	(30,797,693)
Debt issuance expenses	(101,619)	0
Proceeds from issuance of stock (36,170 and 9,680 shares, respectively)	774,175	209,479
Cash dividends paid	(2,840,898)	(2,692,623)
Net cash used in financing activities	(785,308)	(9,809,690)
NET INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS	(80,401)	416,456
BEGINNING CASH AND CASH EQUIVALENTS	985,234	849,757
ENDING CASH AND CASH EQUIVALENTS	904,833	1,266,213
SUPPLEMENTAL CASH FLOW INFORMATION:
Interest paid	1,435,553	992,997
Income taxes paid	$ 181,000	$ 816,573

Condensed Consolidated Stateme7

Condensed Consolidated Statements of Cash Flows (Parenthetical) - shares	9 Months Ended
	Jun. 30, 2016	Jun. 30, 2015
Statement of Cash Flows [Abstract]
Issuance of stock, shares	36,170	9,680

Basis of Presentation

Basis of Presentation	9 Months Ended
	Jun. 30, 2016
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Basis of Presentation	Basis of Presentation RGC Resources, Inc. is an energy services company primarily engaged in the sale and distribution of natural gas. The consolidated financial statements include the accounts of RGC Resources, Inc. ("Resources" or the "Company") and its wholly owned subsidiaries: Roanoke Gas Company; Diversified Energy Company; RGC Ventures of Virginia, Inc.; and RGC Midstream, LLC. In the opinion of management, the accompanying unaudited condensed consolidated financial statements contain all adjustments (consisting of only normal recurring accruals) necessary to present fairly Resources financial position as of June 30, 2016 and the results of its operations, cash flows and comprehensive income for the three months and nine months ended June 30, 2016 and 2015 . The results of operations for the three months and nine months ended June 30, 2016 are not indicative of the results to be expected for the fiscal year ending September 30, 2016 as quarterly earnings are affected by the highly seasonal nature of the business and weather conditions generally result in greater earnings during the winter months. The unaudited condensed consolidated interim financial statements and condensed notes are presented as permitted under the rules and regulations of the Securities and Exchange Commission. Pursuant to those rules, certain information and note disclosures normally included in the annual financial statements prepared in accordance with generally accepted accounting principles have been condensed or omitted, although the Company believes that the disclosures made are adequate to make the information not misleading. Therefore, the condensed consolidated financial statements and condensed notes should be read in conjunction with the financial statements and notes contained in the Company’s Form 10-K for the year ended September 30, 2015 . The September 30, 2015 balance sheet was included in the Company’s audited financial statements included in Form 10-K. The preparation of financial statements in conformity with accounting principles generally accepted in the United States of America requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates. The Company’s significant accounting policies are described in Note 1 to the consolidated financial statements in Form 10-K for the year ended September 30, 2015 . Newly adopted and newly issued accounting standards are discussed below. Recently Issued Accounting Standards In May 2014, the FASB issued guidance under FASB ASC No. 606 - Revenue from Contracts with Customers that affects any entity that enters into contracts with customers for the transfer of goods or services or transfer of non-financial assets. This guidance supersedes the revenue recognition requirements in Topic 605, Revenue Recognition, and most industry-specific guidance. The core principle of the new guidance is that an entity should recognize revenue to depict the transfer of promised goods or services to customers in an amount that reflects the consideration to which the entity expects to be entitled in exchange for those goods or services. To achieve that core principle, an entity should apply the following steps: (1) identify the contract with the customer, (2) identify the performance obligations in the contract, (3) determine the transaction price, (4) allocate the transaction price to the performance obligations in the contract, and (5) recognize revenue when, or as, the entity satisfies the performance obligation. The new guidance was effective for the Company for the annual reporting period ending September 30, 2018 and interim periods within that annual period. Early application was not permitted. In August 2015, the FASB issued Accounting Standards Update (ASU) 2015-14 that deferred the effective date of this guidance by one year. Therefore, the new guidance is effective for the Company for the annual reporting period ending September 30, 2019 and interim periods within that year. The FASB has issued subsequent guidance under ASC No. 606 to provide further clarification of certain aspects of the original ASU. All additional guidance is being considered as part of the Company's evaluation of the revenue recognition standard. Although Management has not completed its evaluation of all the issued guidance under ASC No. 606, the Company does not currently expect the guidance to have a material effect on its financial position, results of operations or cash flows. In April 2015, the FASB issued ASU 2015-03, Interest-Imputation of Interest: Simplifying the Presentation of Debt Issuance Costs . This ASU requires that debt issuance costs related to a recognized debt liability be presented in the balance sheet as a direct deduction from the carrying amount of that debt liability. The Company previously recognized debt issuance costs in assets and amortized those costs over the term of the debt. This guidance is effective for the Company for the annual reporting period ending September 30, 2017 and interim periods within that annual period. Early application is permitted. The Company adopted the ASU in the consolidated financial statements in Form 10-K for the year ended September 30, 2015 . The adoption of this ASU did not have an effect on the Company's results of operations or cash flows; however, the unamortized balance of debt issuance costs were reclassified from assets to an offset against long-term debt. Certain deferred costs related to the early retirement of debt in 2014 are classified as regulatory assets and are not offset against debt. The changes required under this guidance are presented in the Consolidated Balance Sheets presented in the Company's financial statements. In November 2015, the FASB issued ASU 2015-17, Income Taxes: Balance sheet Classification of Deferred Taxes. The ASU requires that all deferred tax assets and liabilities be presented as noncurrent and eliminates existing presentation requirements. This ASU is effective for the Company for the annual reporting period ended September 30, 2018 and interim periods within that annual period. Early application is permitted. The Company adopted this ASU for the quarter ended December 31, 2015. The Company applied the retrospective approach in adopting this ASU and reclassified $2,293,536 previously reflected as a current deferred income tax asset against the balance of the non-current deferred tax liability in the September 30, 2015 consolidated balance sheet. There was no other impact to the Company’s financial position, results of operations or cash flows. In January 2016, the FASB issued ASU 2016-01, Financial Instruments - Overall: Recognition and Measurement of Financial Assets and Financial Liabilities . The ASU enhances the reporting model for financial instruments to provide users of the financial statements with more useful information through several provisions, including the following: (1) requires equity investments, excluding investments accounted for under the equity method, be measured at fair value with changes in fair value recognized in net income, (2) simplifies the impairment assessment of equity investments without readily determinable fair values, (3) eliminates the requirement to disclose the method(s) and significant assumptions used to estimate the fair value that is required to be disclosed for financial instruments measured at amortized cost on the balance sheet, (4) requires entities to use the exit price notion when measuring the fair value of financial instruments for disclosure purposes, and (5) requires separate presentation of financial assets and financial liabilities by measurement category and form of financial asset on the balance sheet or the accompanying notes to the financial statements. The new guidance is effective for the Company for the annual reporting period ending September 30, 2019 and interim periods within that annual period. Management has not completed its evaluation of the new guidance. However, the Company does not currently expect the new guidance to have a material effect on its financial position, results of operations or cash flows. In February 2016, the FASB issued ASU 2016-02, Leases. The ASU leaves the accounting for leases mostly unchanged for lessors, with the exception of targeted improvements for consistency; however, the new guidance requires lessees to recognize assets and liabilities for leases with terms of more than 12-months. The ASU also revises the definition of a lease as a contract, or part of a contract, that conveys the right to control the use of identified property, plant or equipment for a period of time in exchange for consideration. Consistent with current GAAP, the presentation and cash flows arising from a lease by a lessee will primarily depend on its classification as a finance or operating lease. In contrast, the new ASU requires both types of leases to be recognized on the balance sheet. In addition, the new guidance includes quantitative and qualitative disclosure requirements to aid financial statement users in better understanding the amount, timing and uncertainty of cash flows arising from leases. The new guidance is effective for the Company for the annual reporting period ending September 30, 2020 and interim periods within that annual period. Early adoption is permitted. Management has not completed its evaluation of the new guidance. However, the Company does not currently expect the new guidance to have a material effect on its financial position, results of operations or cash flows. In March 2016, the FASB issued ASU 2016-09, Compensation - Stock Compensation: Improvements to Employee Share-Based Payment Accounting . The guidance simplifies several aspects of the accounting for share-based payment award transactions, including income tax consequences, classification of awards as either equity or liabilities and classification on the statement of cash flows. The new guidance is effective for the Company for the annual reporting period ending September 30, 2018 and interim periods within that annual period. Early adoption is permitted. Management has not completed its evaluation of the new guidance. However, the Company does not currently expect the new guidance to have a material effect on its financial position, results of operations or cash flows. Other accounting standards that have been issued by the FASB or other standard-setting bodies are not currently applicable to the Company or are not expected to have a material impact on the Company’s financial position, results of operations or cash flows.

Rates and Regulatory Matters

Rates and Regulatory Matters	9 Months Ended
	Jun. 30, 2016
Regulated Operations [Abstract]
Rates and Regulatory Matters	Rates and Regulatory Matters The State Corporation Commission of Virginia (“SCC”) exercises regulatory authority over the natural gas operations of Roanoke Gas. Such regulation encompasses terms, conditions, and rates to be charged to customers for natural gas service; safety standards; extension of service; and accounting and depreciation. On June 30, 2016, the Company filed with the SCC an application for a modification to the SAVE (Steps to Advance Virginia's Energy) Plan and Rider. The original SAVE Plan has been modified each year to incorporate certain changes and to include new projects that qualify for rate recovery under the Plan. The SAVE Plan is designed to provide a mechanism for utilities to recover the related depreciation and expenses and a return on rate base of the capital investment related to the replacement of aging natural gas infrastructure without the filing of a formal application for an increase in non-gas rates. Under the current application, the Company submitted its report for refunding the excess SAVE revenues collected under the 2015 SAVE Plan and proposed new SAVE rates to be implemented for the ongoing investment in SAVE Plan projects. The Company anticipates the SCC to complete its review of the application over the next few months.

Other Investments

Other Investments	9 Months Ended
	Jun. 30, 2016
Other Investments [Abstract]
Other Investments	Other Investments In October 2015, the Company, through its wholly-owned subsidiary, RGC Midstream, LLC ("Midstream"), acquired a 1% equity interest in the Mountain Valley Pipeline, LLC (the “LLC”). The LLC was established to construct and operate a natural gas pipeline originating in northern West Virginia and extending through south central Virginia. The proposed pipeline will have the capacity to transport approximately 2 million decatherms of natural gas per day. If approved by the Federal Energy Regulatory Commission, the pipeline is expected to be in service by late 2018. The total project cost is estimated to be approximately $3.5 billion. The Company's 1% equity interest in the LLC will require a total estimated investment of approximately $35 million, by periodic capital contributions throughout the design and construction phases of the project. Midstream held an approximate $3.4 million equity method investment in the LLC at June 30, 2016 . On a quarterly basis, the LLC issues a capital call notice which specifies the capital contributions to be paid over the subsequent three months. As of June 30, 2016, the Company had $1,059,890 remaining to be paid under the most recent notice. The capital contribution payable has been reflected on the Company's balance sheet as of June 30, 2016, with a corresponding increase to Investment in Unconsolidated Affiliate. Initial funding for Midstream's investment in the LLC is provided through two unsecured promissory notes, each with a 5 -year term. The Company is participating in the earnings of the LLC in proportion to its level of investment. The Company is utilizing the equity method to account for the transactions and activity of the investment. The financial statement locations of the investment in the LLC are as follows: Balance Sheet Location of Other Investments: June 30, 2016 September 30, 2015 Other Assets: Investment in unconsolidated affiliate $ 3,428,411 $ — Current Liabilities: Capital contributions payable $ 1,059,890 $ — Three Months Ended Nine Months Ended Income Statement Location of Other Investments: June 30, 2016 June 30, 2015 June 30, 2016 June 30, 2015 Equity in earnings of unconsolidated affiliate $ 40,562 $ — $ 95,945 $ —

Short-Term Debt

Short-Term Debt	9 Months Ended
	Jun. 30, 2016
Short-term Debt [Abstract]
Short-Term Debt	Short-Term Debt The Company entered into a new unsecured line-of-credit agreement dated March 31, 2016 . The new agreement maintains the same variable interest rate based on 30-day LIBOR plus 100 basis points and availability fee of 15 basis points as the expiring agreement. The agreement also includes multi-tiered borrowing limits to accommodate seasonal borrowing demands and minimize borrowing costs. The Company’s total available borrowing limits during the term of the line-of-credit agreement range from $10,000,000 to $24,000,000 . The line-of-credit agreement will expire March 31, 2017 , unless extended. The Company anticipates being able to extend or replace the credit line upon expiration. As of June 30, 2016 , the Company had $8,127,832 outstanding under its line-of-credit agreement.

Long-Term Debt Long-Term Debt

Long-Term Debt Long-Term Debt	9 Months Ended
	Jun. 30, 2016
Debt Disclosure [Abstract]
Long-Term Debt	Long-Term Debt On December 29, 2015, Midstream, a wholly-owned subsidiary of Resources, entered into a Credit Agreement (the “Agreement”) and related Promissory Notes (the “Notes”) with Union Bank & Trust and Branch Banking & Trust (collectively, the “Banks”), under which Midstream may borrow up to a total of $25 million, over a period of 5 years , with an interest rate of 30-day LIBOR plus 160 basis points. Midstream issued the Notes to provide financing for capital contributions in respect of its 1% interest in the LLC. Coinciding with Midstream's entry into the Agreement and Notes, RGC Resources entered into a Guaranty in favor of the Banks by which it guarantees Midstream's payment and performance on the Notes. The Agreement sets forth certain representations, warranties and covenants to which Midstream is subject, including financial covenants that limit Consolidated Long Term Indebtedness to not more than 65% of Consolidated Total Capitalization and Priority Indebtedness to not more than 15% of Consolidated Total Assets. Interest on the Notes is due monthly with the outstanding balance on the Notes due in full on December 29, 2020. The Notes are unsecured. In accordance with the terms of the Agreement, at such point in time as Midstream has borrowed $17.5 million under the Notes, Midstream is required to provide the next $5 million towards its capital contributions to the LLC. Once Midstream has completed its $5 million in contributions, it may resume borrowing under the Notes up to the $25 million limit. Long-term debt consists of the following: June 30, 2016 September 30, 2015 Principal Unamortized Debt Issuance Costs Principal Unamortized Debt Issuance Costs Unsecured senior notes payable, at 4.26% due on September 18, 2034 $ 30,500,000 $ 176,187 $ 30,500,000 $ 183,427 Unsecured term notes payable, at 30-day LIBOR plus 1.60%, due December 29, 2020 2,596,200 91,457 — — Total $ 33,096,200 $ 267,644 $ 30,500,000 $ 183,427

Other Comprehensive Income

Other Comprehensive Income	9 Months Ended
	Jun. 30, 2016
Equity [Abstract]
Other Comprehensive Income	Other Comprehensive Income A summary of other comprehensive income and loss is provided below: Before-Tax Amount Tax (Expense) or Benefit Net-of-Tax Amount Three Months Ended June 30, 2016 Defined benefit plans: Amortization of actuarial losses $ 55,268 $ (20,979 ) $ 34,289 Other comprehensive income $ 55,268 $ (20,979 ) $ 34,289 Three Months Ended June 30, 2015 Defined benefit plans: Amortization of actuarial losses $ 15,055 $ (5,715 ) $ 9,340 Other comprehensive income $ 15,055 $ (5,715 ) $ 9,340 Before-Tax Amount Tax (Expense) or Benefit Net-of-Tax Amount Nine Months Ended June 30, 2016 Defined benefit plans: Amortization of actuarial losses $ 165,804 $ (62,937 ) $ 102,867 Other comprehensive income $ 165,804 $ (62,937 ) $ 102,867 Nine Months Ended June 30, 2015 Defined benefit plans: Amortization of actuarial losses 45,165 (17,145 ) 28,020 Other comprehensive income $ 45,165 $ (17,145 ) $ 28,020 The amortization of actuarial losses is included as a component of net periodic pension and postretirement benefit cost in operations and maintenance expense. Reconciliation of Other Accumulated Comprehensive Income (Loss) Accumulated Other Comprehensive Income (Loss) Balance at September 30, 2015 $ (2,286,545 ) Other comprehensive income 102,867 Balance at June 30, 2016 $ (2,183,678 )

Commitments and Contingencies

Commitments and Contingencies	9 Months Ended
	Jun. 30, 2016
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	Commitments and Contingencies Roanoke Gas currently holds the only franchises and/or certificates of public convenience and necessity to distribute natural gas in its service area. The Company renewed the expiring franchises in December 2015 under similar terms and conditions. The new franchise agreements expire December 31, 2035 . The Company's current certificates of public convenience and necessity are exclusive and are intended for perpetual duration. Due to the nature of the natural gas distribution business, the Company has entered into agreements with both suppliers and pipelines for natural gas commodity purchases, storage capacity and pipeline delivery capacity. The Company obtains most of its regulated natural gas supply through an asset manager. The Company utilizes an asset manager to assist in optimizing the use of its transportation, storage rights, and gas supply in order to provide a secure and reliable source of natural gas to its customers. The Company also has storage and pipeline capacity contracts to store and deliver natural gas to the Company’s distribution system. Roanoke Gas is served directly by two primary pipelines. These two pipelines deliver all of the natural gas supplied to the Company’s customers. Depending on weather conditions and the level of customer demand, failure of one or both of these transmission pipelines could have a major adverse impact on the Company.

Earnings Per Share

Earnings Per Share	9 Months Ended
	Jun. 30, 2016
Earnings Per Share [Abstract]
Earnings Per Share	Earnings Per Share Basic earnings per common share for the three months and nine months ended June 30, 2016 and 2015 were calculated by dividing net income by the weighted average common shares outstanding during the period. Diluted earnings per common share were calculated by dividing net income by the weighted average common shares outstanding during the period plus potential dilutive common shares. A reconciliation of basic and diluted earnings per share is presented below: Three Months Ended June 30, Nine Months Ended June 30, 2016 2015 2016 2015 Net Income $ 627,068 $ 354,940 $ 5,661,305 $ 5,058,660 Weighted average common shares 4,773,766 4,729,428 4,760,609 4,725,144 Effect of dilutive securities: Options to purchase common stock 8,042 3,192 5,301 3,814 Diluted average common shares 4,781,808 4,732,620 4,765,910 4,728,958 Earnings Per Share of Common Stock: Basic $ 0.13 $ 0.08 $ 1.19 $ 1.07 Diluted $ 0.13 $ 0.07 $ 1.19 $ 1.07

Employee Benefit Plans

Employee Benefit Plans	9 Months Ended
	Jun. 30, 2016
Compensation and Retirement Disclosure [Abstract]
Employee Benefit Plans	Employee Benefit Plans The Company has both a defined benefit pension plan (the “pension plan”) and a postretirement benefit plan (the “postretirement plan”). The pension plan covers substantially all of the Company’s employees and provides retirement income based on years of service and employee compensation. The postretirement plan provides certain health care and supplemental life insurance benefits to retired employees who meet specific age and service requirements. Net pension plan and postretirement plan expense recorded by the Company is detailed as follows: Three Months Ended Nine Months Ended June 30, June 30, 2016 2015 2016 2015 Components of net periodic pension cost: Service cost $ 173,594 $ 163,696 $ 520,782 $ 491,088 Interest cost 283,194 256,477 849,582 769,431 Expected return on plan assets (373,060 ) (360,212 ) (1,119,180 ) (1,080,636 ) Recognized loss 125,420 64,345 376,260 193,035 Net periodic pension cost $ 209,148 $ 124,306 $ 627,444 $ 372,918 Three Months Ended Nine Months Ended June 30, June 30, 2016 2015 2016 2015 Components of postretirement benefit cost: Service cost $ 37,005 $ 41,895 $ 111,015 $ 125,685 Interest cost 156,145 150,024 468,435 450,072 Expected return on plan assets (126,965 ) (129,164 ) (380,895 ) (387,492 ) Recognized loss 62,543 49,265 187,629 147,795 Net postretirement benefit cost $ 128,728 $ 112,020 $ 386,184 $ 336,060 The Company contributed $250,000 to its pension plan and $375,000 to its postretirement medical plan during the nine-month period ended June 30, 2016 . The Company currently expects to contribute a minimum of an additional $250,000 to its pension plan and an additional $125,000 to its postretirement medical plan prior to the end of its fiscal year.

Fair Value Measurements

Fair Value Measurements	9 Months Ended
	Jun. 30, 2016
Fair Value Disclosures [Abstract]
Fair Value Measurements	Fair Value Measurements FASB ASC No. 820, Fair Value Measurements and Disclosures , established a fair value hierarchy that prioritizes each input to the valuation method used to measure fair value of financial and nonfinancial assets and liabilities that are measured and reported on a fair value basis into one of the following three broad levels: Level 1 – Unadjusted quoted prices in active markets for identical assets or liabilities that the Company has the ability to access at the measurement date. Level 2 – Inputs other than quoted prices in Level 1 that are either for similar assets or liabilities in active markets, quoted prices for identical or similar assets or liabilities in markets that are not active, inputs other than quoted prices that are observable for the asset or liability, or inputs that are derived principally from or corroborated by observable market data by correlation or other means. Level 3 – Unobservable inputs for the asset or liability where there is little, if any, market activity for the asset or liability at the measurement date. The fair value hierarchy gives the highest priority to unadjusted quoted prices in active markets (Level 1) and the lowest priority to unobservable inputs (Level 3). The following table summarizes the Company’s financial assets and liabilities that are measured at fair value on a recurring basis as required by existing guidance and the fair value measurements by level within the fair value hierarchy as of June 30, 2016 and September 30, 2015 : Fair Value Measurements - June 30, 2016 Fair Value Quoted Prices in Active Markets (Level 1) Significant Other Observable Inputs (Level 2) Significant Unobservable Inputs (Level 3) Liabilities: Natural gas purchases $ 1,547,136 $ — $ 1,547,136 $ — Total $ 1,547,136 $ — $ 1,547,136 $ — Fair Value Measurements - September 30, 2015 Fair Value Quoted Prices in Active Markets (Level 1) Significant Other Observable Inputs (Level 2) Significant Unobservable Inputs (Level 3) Liabilities: Natural gas purchases $ 712,710 $ — $ 712,710 $ — Total $ 712,710 $ — $ 712,710 $ — Under the asset management contract, a timing difference can exist between the payment for natural gas purchases and the actual receipt of such purchases. Payments are made based on a predetermined monthly volume with the price based on weighted average first of the month index prices corresponding to the month of the scheduled payment. At June 30, 2016 and September 30, 2015 , the Company had recorded in accounts payable the estimated fair value of the liability valued at the corresponding first of month index prices for which the liability is expected to be settled. The Company’s nonfinancial assets and liabilities that are measured at fair value on a nonrecurring basis consist of its asset retirement obligations. The asset retirement obligations are measured at fair value at initial recognition based on expected future cash flows required to settle the obligation. The carrying value of cash and cash equivalents, accounts receivable, accounts payable (with the exception of the timing difference under the asset management contract), customer credit balances and customer deposits is a reasonable estimate of fair value due to the short-term nature of these financial instruments. The following table summarizes the fair value of the Company’s financial assets and liabilities that are not adjusted to fair value in the financial statements as of June 30, 2016 and September 30, 2015 : Fair Value Measurements - June 30, 2016 Carrying Value Quoted Prices in Active Markets (Level 1) Significant Other Observable Inputs (Level 2) Significant Unobservable Inputs (Level 3) Liabilities: Long-term debt $ 33,096,200 $ — $ — $ 34,871,572 Total $ 33,096,200 $ — $ — $ 34,871,572 Fair Value Measurements - September 30, 2015 Carrying Value Quoted Prices in Active Markets (Level 1) Significant Other Observable Inputs (Level 2) Significant Unobservable Inputs (Level 3) Liabilities: Long-term debt $ 30,500,000 $ — $ — $ 28,570,585 Total $ 30,500,000 $ — $ — $ 28,570,585 The fair value of long-term debt is estimated by discounting the future cash flows of the debt based on current market rates and corresponding interest rate spread. FASB ASC 825, Financial Instruments , requires disclosures regarding concentrations of credit risk from financial instruments. Cash equivalents are investments in high-grade, short-term securities (original maturity less than three months), placed with financially sound institutions. Accounts receivable are from a diverse group of customers including individuals and small and large companies in various industries. As of June 30, 2016 and September 30, 2015 , no single customer accounted for more than 5% of the total accounts receivable balance. The Company maintains certain credit standards with its customers and requires a customer deposit if such evaluation warrants.

Stock Options Stock Options

Stock Options Stock Options	9 Months Ended
	Jun. 30, 2016
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]
Stock Options	Stock Options On December 3, 2015 , the Board of Directors granted 16,000 options to certain officers of the Company. In accordance with the Key Employee Stock Option Plan, the grant price of $21.22 was the closing price of the Company's stock on the grant date. The options become exercisable six months from the grant date and expire after ten years from the date of issuance. Fair value at the grant date was $4.04 per option as calculated using the Black-Scholes option pricing model. Compensation expense is recognized over the vesting period. Total compensation expense recognized through June 30, 2016 was $64,640 .

Subsequent Events

Subsequent Events	9 Months Ended
	Jun. 30, 2016
Subsequent Events [Abstract]
Subsequent Events	Subsequent Events The Company has evaluated subsequent events through the date the financial statements were issued. There were no items not otherwise disclosed which would have materially impacted the Company’s condensed consolidated financial statements.

Basis of Presentation (Policy)

Basis of Presentation (Policy)	9 Months Ended
	Jun. 30, 2016
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Basis of Presentation	Basis of Presentation RGC Resources, Inc. is an energy services company primarily engaged in the sale and distribution of natural gas. The consolidated financial statements include the accounts of RGC Resources, Inc. ("Resources" or the "Company") and its wholly owned subsidiaries: Roanoke Gas Company; Diversified Energy Company; RGC Ventures of Virginia, Inc.; and RGC Midstream, LLC. In the opinion of management, the accompanying unaudited condensed consolidated financial statements contain all adjustments (consisting of only normal recurring accruals) necessary to present fairly Resources financial position as of June 30, 2016 and the results of its operations, cash flows and comprehensive income for the three months and nine months ended June 30, 2016 and 2015 . The results of operations for the three months and nine months ended June 30, 2016 are not indicative of the results to be expected for the fiscal year ending September 30, 2016 as quarterly earnings are affected by the highly seasonal nature of the business and weather conditions generally result in greater earnings during the winter months. The unaudited condensed consolidated interim financial statements and condensed notes are presented as permitted under the rules and regulations of the Securities and Exchange Commission. Pursuant to those rules, certain information and note disclosures normally included in the annual financial statements prepared in accordance with generally accepted accounting principles have been condensed or omitted, although the Company believes that the disclosures made are adequate to make the information not misleading. Therefore, the condensed consolidated financial statements and condensed notes should be read in conjunction with the financial statements and notes contained in the Company’s Form 10-K for the year ended September 30, 2015 . The September 30, 2015 balance sheet was included in the Company’s audited financial statements included in Form 10-K. The preparation of financial statements in conformity with accounting principles generally accepted in the United States of America requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates. The Company’s significant accounting policies are described in Note 1 to the consolidated financial statements in Form 10-K for the year ended September 30, 2015 . Newly adopted and newly issued accounting standards are discussed below.
Recently Issued Accounting Standards	Recently Issued Accounting Standards In May 2014, the FASB issued guidance under FASB ASC No. 606 - Revenue from Contracts with Customers that affects any entity that enters into contracts with customers for the transfer of goods or services or transfer of non-financial assets. This guidance supersedes the revenue recognition requirements in Topic 605, Revenue Recognition, and most industry-specific guidance. The core principle of the new guidance is that an entity should recognize revenue to depict the transfer of promised goods or services to customers in an amount that reflects the consideration to which the entity expects to be entitled in exchange for those goods or services. To achieve that core principle, an entity should apply the following steps: (1) identify the contract with the customer, (2) identify the performance obligations in the contract, (3) determine the transaction price, (4) allocate the transaction price to the performance obligations in the contract, and (5) recognize revenue when, or as, the entity satisfies the performance obligation. The new guidance was effective for the Company for the annual reporting period ending September 30, 2018 and interim periods within that annual period. Early application was not permitted. In August 2015, the FASB issued Accounting Standards Update (ASU) 2015-14 that deferred the effective date of this guidance by one year. Therefore, the new guidance is effective for the Company for the annual reporting period ending September 30, 2019 and interim periods within that year. The FASB has issued subsequent guidance under ASC No. 606 to provide further clarification of certain aspects of the original ASU. All additional guidance is being considered as part of the Company's evaluation of the revenue recognition standard. Although Management has not completed its evaluation of all the issued guidance under ASC No. 606, the Company does not currently expect the guidance to have a material effect on its financial position, results of operations or cash flows. In April 2015, the FASB issued ASU 2015-03, Interest-Imputation of Interest: Simplifying the Presentation of Debt Issuance Costs . This ASU requires that debt issuance costs related to a recognized debt liability be presented in the balance sheet as a direct deduction from the carrying amount of that debt liability. The Company previously recognized debt issuance costs in assets and amortized those costs over the term of the debt. This guidance is effective for the Company for the annual reporting period ending September 30, 2017 and interim periods within that annual period. Early application is permitted. The Company adopted the ASU in the consolidated financial statements in Form 10-K for the year ended September 30, 2015 . The adoption of this ASU did not have an effect on the Company's results of operations or cash flows; however, the unamortized balance of debt issuance costs were reclassified from assets to an offset against long-term debt. Certain deferred costs related to the early retirement of debt in 2014 are classified as regulatory assets and are not offset against debt. The changes required under this guidance are presented in the Consolidated Balance Sheets presented in the Company's financial statements. In November 2015, the FASB issued ASU 2015-17, Income Taxes: Balance sheet Classification of Deferred Taxes. The ASU requires that all deferred tax assets and liabilities be presented as noncurrent and eliminates existing presentation requirements. This ASU is effective for the Company for the annual reporting period ended September 30, 2018 and interim periods within that annual period. Early application is permitted. The Company adopted this ASU for the quarter ended December 31, 2015. The Company applied the retrospective approach in adopting this ASU and reclassified $2,293,536 previously reflected as a current deferred income tax asset against the balance of the non-current deferred tax liability in the September 30, 2015 consolidated balance sheet. There was no other impact to the Company’s financial position, results of operations or cash flows. In January 2016, the FASB issued ASU 2016-01, Financial Instruments - Overall: Recognition and Measurement of Financial Assets and Financial Liabilities . The ASU enhances the reporting model for financial instruments to provide users of the financial statements with more useful information through several provisions, including the following: (1) requires equity investments, excluding investments accounted for under the equity method, be measured at fair value with changes in fair value recognized in net income, (2) simplifies the impairment assessment of equity investments without readily determinable fair values, (3) eliminates the requirement to disclose the method(s) and significant assumptions used to estimate the fair value that is required to be disclosed for financial instruments measured at amortized cost on the balance sheet, (4) requires entities to use the exit price notion when measuring the fair value of financial instruments for disclosure purposes, and (5) requires separate presentation of financial assets and financial liabilities by measurement category and form of financial asset on the balance sheet or the accompanying notes to the financial statements. The new guidance is effective for the Company for the annual reporting period ending September 30, 2019 and interim periods within that annual period. Management has not completed its evaluation of the new guidance. However, the Company does not currently expect the new guidance to have a material effect on its financial position, results of operations or cash flows. In February 2016, the FASB issued ASU 2016-02, Leases. The ASU leaves the accounting for leases mostly unchanged for lessors, with the exception of targeted improvements for consistency; however, the new guidance requires lessees to recognize assets and liabilities for leases with terms of more than 12-months. The ASU also revises the definition of a lease as a contract, or part of a contract, that conveys the right to control the use of identified property, plant or equipment for a period of time in exchange for consideration. Consistent with current GAAP, the presentation and cash flows arising from a lease by a lessee will primarily depend on its classification as a finance or operating lease. In contrast, the new ASU requires both types of leases to be recognized on the balance sheet. In addition, the new guidance includes quantitative and qualitative disclosure requirements to aid financial statement users in better understanding the amount, timing and uncertainty of cash flows arising from leases. The new guidance is effective for the Company for the annual reporting period ending September 30, 2020 and interim periods within that annual period. Early adoption is permitted. Management has not completed its evaluation of the new guidance. However, the Company does not currently expect the new guidance to have a material effect on its financial position, results of operations or cash flows. In March 2016, the FASB issued ASU 2016-09, Compensation - Stock Compensation: Improvements to Employee Share-Based Payment Accounting . The guidance simplifies several aspects of the accounting for share-based payment award transactions, including income tax consequences, classification of awards as either equity or liabilities and classification on the statement of cash flows. The new guidance is effective for the Company for the annual reporting period ending September 30, 2018 and interim periods within that annual period. Early adoption is permitted. Management has not completed its evaluation of the new guidance. However, the Company does not currently expect the new guidance to have a material effect on its financial position, results of operations or cash flows. Other accounting standards that have been issued by the FASB or other standard-setting bodies are not currently applicable to the Company or are not expected to have a material impact on the Company’s financial position, results of operations or cash flows.

Other Investments (Tables)

Other Investments (Tables)	9 Months Ended
	Jun. 30, 2016
Other Investments [Abstract]
Schedule of Other Investments	The financial statement locations of the investment in the LLC are as follows: Balance Sheet Location of Other Investments: June 30, 2016 September 30, 2015 Other Assets: Investment in unconsolidated affiliate $ 3,428,411 $ — Current Liabilities: Capital contributions payable $ 1,059,890 $ — Three Months Ended Nine Months Ended Income Statement Location of Other Investments: June 30, 2016 June 30, 2015 June 30, 2016 June 30, 2015 Equity in earnings of unconsolidated affiliate $ 40,562 $ — $ 95,945 $ —

Long-Term Debt (Tables)

Long-Term Debt (Tables)	9 Months Ended
	Jun. 30, 2016
Debt Disclosure [Abstract]
Schedule of Long-Term Debt	Long-term debt consists of the following: June 30, 2016 September 30, 2015 Principal Unamortized Debt Issuance Costs Principal Unamortized Debt Issuance Costs Unsecured senior notes payable, at 4.26% due on September 18, 2034 $ 30,500,000 $ 176,187 $ 30,500,000 $ 183,427 Unsecured term notes payable, at 30-day LIBOR plus 1.60%, due December 29, 2020 2,596,200 91,457 — — Total $ 33,096,200 $ 267,644 $ 30,500,000 $ 183,427

Other Comprehensive Income (Tab

Other Comprehensive Income (Tables)	9 Months Ended
	Jun. 30, 2016
Equity [Abstract]
Summary of Other Comprehensive Income and Loss	A summary of other comprehensive income and loss is provided below: Before-Tax Amount Tax (Expense) or Benefit Net-of-Tax Amount Three Months Ended June 30, 2016 Defined benefit plans: Amortization of actuarial losses $ 55,268 $ (20,979 ) $ 34,289 Other comprehensive income $ 55,268 $ (20,979 ) $ 34,289 Three Months Ended June 30, 2015 Defined benefit plans: Amortization of actuarial losses $ 15,055 $ (5,715 ) $ 9,340 Other comprehensive income $ 15,055 $ (5,715 ) $ 9,340 Before-Tax Amount Tax (Expense) or Benefit Net-of-Tax Amount Nine Months Ended June 30, 2016 Defined benefit plans: Amortization of actuarial losses $ 165,804 $ (62,937 ) $ 102,867 Other comprehensive income $ 165,804 $ (62,937 ) $ 102,867 Nine Months Ended June 30, 2015 Defined benefit plans: Amortization of actuarial losses 45,165 (17,145 ) 28,020 Other comprehensive income $ 45,165 $ (17,145 ) $ 28,020
Reconciliation of Other Accumulated Other Comprehensive Income (Loss)	Reconciliation of Other Accumulated Comprehensive Income (Loss) Accumulated Other Comprehensive Income (Loss) Balance at September 30, 2015 $ (2,286,545 ) Other comprehensive income 102,867 Balance at June 30, 2016 $ (2,183,678 )

Earnings Per Share (Tables)

Earnings Per Share (Tables)	9 Months Ended
	Jun. 30, 2016
Earnings Per Share [Abstract]
Schedule of Basic and Diluted Earnings Per Share Reconciliation	A reconciliation of basic and diluted earnings per share is presented below: Three Months Ended June 30, Nine Months Ended June 30, 2016 2015 2016 2015 Net Income $ 627,068 $ 354,940 $ 5,661,305 $ 5,058,660 Weighted average common shares 4,773,766 4,729,428 4,760,609 4,725,144 Effect of dilutive securities: Options to purchase common stock 8,042 3,192 5,301 3,814 Diluted average common shares 4,781,808 4,732,620 4,765,910 4,728,958 Earnings Per Share of Common Stock: Basic $ 0.13 $ 0.08 $ 1.19 $ 1.07 Diluted $ 0.13 $ 0.07 $ 1.19 $ 1.07

Employee Benefit Plans (Tables)

Employee Benefit Plans (Tables)	9 Months Ended
	Jun. 30, 2016
Pension Plan [Member]
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Schedule of Components of Net Periodic Pension and Postretirement Benefit Cost	Net pension plan and postretirement plan expense recorded by the Company is detailed as follows: Three Months Ended Nine Months Ended June 30, June 30, 2016 2015 2016 2015 Components of net periodic pension cost: Service cost $ 173,594 $ 163,696 $ 520,782 $ 491,088 Interest cost 283,194 256,477 849,582 769,431 Expected return on plan assets (373,060 ) (360,212 ) (1,119,180 ) (1,080,636 ) Recognized loss 125,420 64,345 376,260 193,035 Net periodic pension cost $ 209,148 $ 124,306 $ 627,444 $ 372,918
Postretirement Plan [Member]
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Schedule of Components of Net Periodic Pension and Postretirement Benefit Cost	Three Months Ended Nine Months Ended June 30, June 30, 2016 2015 2016 2015 Components of postretirement benefit cost: Service cost $ 37,005 $ 41,895 $ 111,015 $ 125,685 Interest cost 156,145 150,024 468,435 450,072 Expected return on plan assets (126,965 ) (129,164 ) (380,895 ) (387,492 ) Recognized loss 62,543 49,265 187,629 147,795 Net postretirement benefit cost $ 128,728 $ 112,020 $ 386,184 $ 336,060

Fair Value Measurements (Tables

Fair Value Measurements (Tables)	9 Months Ended
	Jun. 30, 2016
Fair Value Disclosures [Abstract]
Schedule of Fair Value of Financial Assets and Liabilities Measured on a Recurring Basis	The following table summarizes the Company’s financial assets and liabilities that are measured at fair value on a recurring basis as required by existing guidance and the fair value measurements by level within the fair value hierarchy as of June 30, 2016 and September 30, 2015 : Fair Value Measurements - June 30, 2016 Fair Value Quoted Prices in Active Markets (Level 1) Significant Other Observable Inputs (Level 2) Significant Unobservable Inputs (Level 3) Liabilities: Natural gas purchases $ 1,547,136 $ — $ 1,547,136 $ — Total $ 1,547,136 $ — $ 1,547,136 $ — Fair Value Measurements - September 30, 2015 Fair Value Quoted Prices in Active Markets (Level 1) Significant Other Observable Inputs (Level 2) Significant Unobservable Inputs (Level 3) Liabilities: Natural gas purchases $ 712,710 $ — $ 712,710 $ — Total $ 712,710 $ — $ 712,710 $ —
Summary of the Fair Value of Financial Assets and Liabilities Not Adjusted to Fair Value	The following table summarizes the fair value of the Company’s financial assets and liabilities that are not adjusted to fair value in the financial statements as of June 30, 2016 and September 30, 2015 : Fair Value Measurements - June 30, 2016 Carrying Value Quoted Prices in Active Markets (Level 1) Significant Other Observable Inputs (Level 2) Significant Unobservable Inputs (Level 3) Liabilities: Long-term debt $ 33,096,200 $ — $ — $ 34,871,572 Total $ 33,096,200 $ — $ — $ 34,871,572 Fair Value Measurements - September 30, 2015 Carrying Value Quoted Prices in Active Markets (Level 1) Significant Other Observable Inputs (Level 2) Significant Unobservable Inputs (Level 3) Liabilities: Long-term debt $ 30,500,000 $ — $ — $ 28,570,585 Total $ 30,500,000 $ — $ — $ 28,570,585

Basis of Presentation (Details)

Basis of Presentation (Details)	Sep. 30, 2015USD ($)
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Reclassified current deferred tax asset	$ 2,293,536

Other Investments (Narrative) (

Other Investments (Narrative) (Details) Bcf in Millions	1 Months Ended
	Oct. 31, 2015USD ($)debt_instrumentBcf	Jun. 30, 2016USD ($)	Dec. 29, 2015	Sep. 30, 2015USD ($)
Investment [Line Items]
Investment in unconsolidated affiliate		$ 3,428,411		$ 0
Capital contributions payable		1,059,890		$ 0
Midstream [Member]
Investment [Line Items]
Equity interest percentage	1.00%		1.00%
Pipeline capacity per day (in bcf) | Bcf	2
Total project cost	$ 3,500,000,000
Total estimated investment	$ 35,000,000
Investment in unconsolidated affiliate		$ 3,400,000
Number of unsecured Promissory Notes funding the investment | debt_instrument	2
Promissory Notes term	5 years

Other Investments (Schedule of

Other Investments (Schedule of Other Investments) (Details) - USD ($)	3 Months Ended		9 Months Ended
	Jun. 30, 2016	Jun. 30, 2015	Jun. 30, 2016	Jun. 30, 2015	Sep. 30, 2015
Other Investments [Abstract]
Investment in unconsolidated affiliate	$ 3,428,411		$ 3,428,411		$ 0
Capital contributions payable	1,059,890		1,059,890		$ 0
Equity in earnings of unconsolidated affiliate	$ 40,562	$ 0	$ 95,945	$ 0

Short-Term Debt (Details)

Short-Term Debt (Details) - USD ($)	9 Months Ended
	Jun. 30, 2016	Sep. 30, 2015
Short-term Debt [Abstract]
Issuance date	Mar. 31, 2016
Variable rate description	30-day LIBOR
Variable rate basis points (as a percent)	1.00%
Availability fee, percent	0.15%
Short-term Debt [Line Items]
Line-of-credit facility, expiration date	Mar. 31, 2017
Borrowings under line-of-credit	$ 8,127,832	$ 9,340,997
Minimum [Member]
Short-term Debt [Line Items]
Line of credit facility, maximum borrowing limit	10,000,000
Maximum [Member]
Short-term Debt [Line Items]
Line of credit facility, maximum borrowing limit	$ 24,000,000

Long-Term Debt (Narrative) (Det

Long-Term Debt (Narrative) (Details) - USD ($)	Dec. 29, 2015	Oct. 31, 2015	Jun. 30, 2016
Debt Instrument [Line Items]
Variable rate description			30-day LIBOR
Variable rate basis points (as a percent)			1.00%
Unsecured Term Notes [Member] | Unsecured Term Notes Payable, at 30-day LIBOR plus 1.60%, due December 29, 2020 [Member]
Debt Instrument [Line Items]
Variable rate description			30-day LIBOR
Variable rate basis points (as a percent)			1.60%
Midstream [Member]
Debt Instrument [Line Items]
Debt term		5 years
Equity interest percentage	1.00%	1.00%
Midstream [Member] | Unsecured Term Notes [Member] | Unsecured Term Notes Payable, at 30-day LIBOR plus 1.60%, due December 29, 2020 [Member]
Debt Instrument [Line Items]
Debt term	5 years
Variable rate description	30-day LIBOR
Variable rate basis points (as a percent)	1.60%
Maximum percentage of Consolidated Long Term Indebtedness to Consolidated Total Capitalization	65.00%
Maximum percentage of Priority Indebtedness to Consolidated Total Assets	15.00%
Maximum borrowings	$ 17,500,000
Required amount to be provided towards capital contributions to the LLC	5,000,000
Midstream [Member] | Unsecured Term Notes [Member] | Unsecured Term Notes Payable, at 30-day LIBOR plus 1.60%, due December 29, 2020 [Member] | Maximum [Member]
Debt Instrument [Line Items]
Debt instrument, borrowing amount	$ 25,000,000

Long-Term Debt (Schedule of Lon

Long-Term Debt (Schedule of Long-Term Debt) (Details) - USD ($)	9 Months Ended
	Jun. 30, 2016	Sep. 30, 2015
Debt Instrument [Line Items]
Total, Principal	$ 33,096,200	$ 30,500,000
Unamortized Debt Issuance Costs	$ 267,644	183,427
Variable rate description	30-day LIBOR
Variable rate basis points (as a percent)	1.00%
Unsecured Senior Notes [Member] | Unsecured Senior Notes Payable at 4.26%, due on September 18, 2034 [Member]
Debt Instrument [Line Items]
Principal	$ 30,500,000	30,500,000
Unamortized Debt Issuance Costs	$ 176,187	183,427
Stated percentage rate	4.26%
Unsecured Term Notes [Member] | Unsecured Term Notes Payable, at 30-day LIBOR plus 1.60%, due December 29, 2020 [Member]
Debt Instrument [Line Items]
Principal	$ 2,596,200	0
Unamortized Debt Issuance Costs	$ 91,457	$ 0
Variable rate description	30-day LIBOR
Variable rate basis points (as a percent)	1.60%

Other Comprehensive Income (Sch

Other Comprehensive Income (Schedule of Other Comprehensive Income and Loss) (Details) - USD ($)	3 Months Ended		9 Months Ended
	Jun. 30, 2016	Jun. 30, 2015	Jun. 30, 2016	Jun. 30, 2015
Before-Tax Amount
Amortization of actuarial losses	$ 55,268	$ 15,055	$ 165,804	$ 45,165
Other comprehensive income	55,268	15,055	165,804	45,165
Tax (Expense) or Benefit
Amortization of actuarial losses	(20,979)	(5,715)	(62,937)	(17,145)
Other comprehensive income	(20,979)	(5,715)	(62,937)	(17,145)
Net-of-Tax Amount
Amortization of actuarial losses	34,289	9,340	102,867	28,020
Other comprehensive income	$ 34,289	$ 9,340	$ 102,867	$ 28,020

Other Comprehensive Income (S34

Other Comprehensive Income (Schedule of Components of Accumulated Comprehensive Loss) (Details) - USD ($)	3 Months Ended		9 Months Ended
	Jun. 30, 2016	Jun. 30, 2015	Jun. 30, 2016	Jun. 30, 2015
Increase (Decrease) in Other Accumulated Comprehensive Income (Loss) [Roll Forward]
Balance at beginning of period			$ 52,840,991
Other comprehensive income	$ 34,289	$ 9,340	102,867	$ 28,020
Balance at end of period	56,548,302		56,548,302
Accumulated Other Comprehensive Income (Loss) [Member]
Increase (Decrease) in Other Accumulated Comprehensive Income (Loss) [Roll Forward]
Balance at beginning of period			(2,286,545)
Other comprehensive income			102,867
Balance at end of period	$ (2,183,678)		$ (2,183,678)

Commitments and Contingencies (

Commitments and Contingencies (Details)	9 Months Ended
	Jun. 30, 2016pipeline
Commitments and Contingencies Disclosure [Abstract]
Franchise effective date	Dec. 31, 2035
Number of pipelines serving Roanoke Gas	2

Earnings Per Share (Details)

Earnings Per Share (Details) - USD ($)	3 Months Ended		9 Months Ended
	Jun. 30, 2016	Jun. 30, 2015	Jun. 30, 2016	Jun. 30, 2015
Earnings Per Share [Abstract]
Net income	$ 627,068	$ 354,940	$ 5,661,305	$ 5,058,660
Weighted average common shares	4,773,766	4,729,428	4,760,609	4,725,144
Effect of dilutive securities:
Options to purchase common stock (in shares)	8,042	3,192	5,301	3,814
Diluted average common shares	4,781,808	4,732,620	4,765,910	4,728,958
Earnings Per Share of Common Stock:
Basic (in dollars per share)	$ 0.13	$ 0.08	$ 1.19	$ 1.07
Diluted (in dollars per share)	$ 0.13	$ 0.07	$ 1.19	$ 1.07

Employee Benefit Plans (Schedul

Employee Benefit Plans (Schedule of Components of Net Periodic Pension and Postretirement Benefit Cost) (Details) - USD ($)	3 Months Ended		9 Months Ended
	Jun. 30, 2016	Jun. 30, 2015	Jun. 30, 2016	Jun. 30, 2015
Pension Plan [Member]
Defined Benefit Plan Disclosure [Line Items]
Service cost	$ 173,594	$ 163,696	$ 520,782	$ 491,088
Interest cost	283,194	256,477	849,582	769,431
Expected return on plan assets	(373,060)	(360,212)	(1,119,180)	(1,080,636)
Recognized loss	125,420	64,345	376,260	193,035
Net periodic/postretirement pension/benefit cost	209,148	124,306	627,444	372,918
Postretirement Plan [Member]
Defined Benefit Plan Disclosure [Line Items]
Service cost	37,005	41,895	111,015	125,685
Interest cost	156,145	150,024	468,435	450,072
Expected return on plan assets	(126,965)	(129,164)	(380,895)	(387,492)
Recognized loss	62,543	49,265	187,629	147,795
Net periodic/postretirement pension/benefit cost	$ 128,728	$ 112,020	$ 386,184	$ 336,060

Employee Benefit Plans (Narrati

Employee Benefit Plans (Narrative) (Details) $ in Thousands	9 Months Ended
	Jun. 30, 2016USD ($)
Pension Plan [Member]
Defined Benefit Plan Disclosure [Line Items]
Defined benefit plan, contributions by employer	$ 250
Estimated future contribution during remainder of fiscal year	250
Postretirement Plan [Member]
Defined Benefit Plan Disclosure [Line Items]
Defined benefit plan, contributions by employer	375
Estimated future contribution during remainder of fiscal year	$ 125

Fair Value Measurements (Schedu

Fair Value Measurements (Schedule of Fair Value of Financial Assets and Liabilities Measured on a Recurring Basis) (Details) - USD ($)	Jun. 30, 2016	Sep. 30, 2015
Schedule of Fair Value Assets and Liabilities Measured on Recurring Basis and Fair Value Measurement Inputs [Line Items]
Natural gas purchases	$ 1,547,136	$ 712,710
Total	1,547,136	712,710
Quoted Prices in Active Markets (Level 1) [Member]
Schedule of Fair Value Assets and Liabilities Measured on Recurring Basis and Fair Value Measurement Inputs [Line Items]
Natural gas purchases	0	0
Total	0	0
Significant Other Observable Inputs (Level 2) [Member]
Schedule of Fair Value Assets and Liabilities Measured on Recurring Basis and Fair Value Measurement Inputs [Line Items]
Natural gas purchases	1,547,136	712,710
Total	1,547,136	712,710
Significant Unobservable Inputs (Level 3) [Member]
Schedule of Fair Value Assets and Liabilities Measured on Recurring Basis and Fair Value Measurement Inputs [Line Items]
Natural gas purchases	0	0
Total	$ 0	$ 0

Fair Value Measurements (Summar

Fair Value Measurements (Summary of the Fair Value of Financial Assets and Liabilities Not Adjusted to Fair Value) (Details) - USD ($)	Jun. 30, 2016	Sep. 30, 2015
Quoted Prices in Active Markets (Level 1) [Member]
Liabilities:
Long-term debt	$ 0	$ 0
Total	0	0
Significant Other Observable Inputs (Level 2) [Member]
Liabilities:
Long-term debt	0	0
Total	0	0
Significant Unobservable Inputs (Level 3) [Member]
Liabilities:
Long-term debt	34,871,572	28,570,585
Total	34,871,572	28,570,585
Carrying Value [Member]
Liabilities:
Long-term debt	33,096,200	30,500,000
Total	$ 33,096,200	$ 30,500,000

Fair Value Measurements (Narrat

Fair Value Measurements (Narrative) (Details) - customer	9 Months Ended	12 Months Ended
	Jun. 30, 2016	Sep. 30, 2015
Fair Value Disclosures [Abstract]
Concentration risk, number of customers	0	0
Percentage of accounts receivable from a single customer (more than)	5.00%	5.00%

Stock Options (Details)

Stock Options (Details) - USD ($)	Dec. 03, 2015	Jun. 30, 2016	Jun. 30, 2015
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]
Options granted (in shares)	16,000
Grant price (in dollars per share)	$ 21.22
Option vesting period	6 months
Option expiration period	10 years
Fair value at the grant date (in dollars per share)	$ 4.04
Total compensation expense		$ 64,640	$ 83,640