RGC Resources (RGCO) 10-Q 6 Aug 21 2021 Q3 Quarterly report Financial data

Document And Entity Information

Document And Entity Information - shares	9 Months Ended
	Jun. 30, 2021	Jul. 31, 2021
Document Information [Line Items]
Entity Central Index Key	0001069533
Entity Registrant Name	RGC Resources, Inc.
Amendment Flag	false
Current Fiscal Year End Date	--09-30
Document Fiscal Period Focus	Q3
Document Fiscal Year Focus	2021
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Jun. 30, 2021
Document Transition Report	false
Entity File Number	000-26591
Entity Incorporation, State or Country Code	VA
Entity Tax Identification Number	54-1909697
Entity Address, Address Line One	519 Kimball Ave., N.E.
Entity Address, City or Town	Roanoke
Entity Address, State or Province	VA
Entity Address, Postal Zip Code	24016
City Area Code	540
Local Phone Number	777-4427
Title of 12(b) Security	Common Stock, $5 Par Value
Trading Symbol	RGCO
Security Exchange Name	NASDAQ
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Non-accelerated Filer
Entity Small Business	true
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		8,355,356

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets (Current Period Unaudited) - USD ($)	Jun. 30, 2021	Sep. 30, 2020
CURRENT ASSETS:
Cash and cash equivalents	$ 1,268,411	$ 291,066
Accounts receivable (less allowance for uncollectibles of $935,604, and $703,140, respectively)	4,791,296	3,404,044
Materials and supplies	1,008,615	1,027,191
Gas in storage	4,265,056	5,708,761
Prepaid income taxes	168,161	647,623
Regulatory assets	2,015,117	2,503,314
Other	1,346,225	854,562
Total current assets	14,862,881	14,436,561
UTILITY PROPERTY:
In service	266,210,526	258,342,372
Accumulated depreciation and amortization	(75,293,450)	(71,386,537)
In service, net	190,917,076	186,955,835
Construction work in progress	17,076,443	11,489,258
Utility plant, net	207,993,519	198,445,093
OTHER ASSETS:
Regulatory assets	10,994,375	10,970,094
Investment in unconsolidated affiliates	62,541,855	57,542,805
Other	469,102	284,954
Total other assets	74,005,332	68,797,853
TOTAL ASSETS	296,861,732	281,679,507
CURRENT LIABILITIES:
Current maturities of long-term debt	7,000,000	0
Dividends payable	1,543,131	1,428,268
Accounts payable	5,387,864	4,442,182
Capital contributions payable	1,853,381	2,512,437
Customer credit balances	842,992	1,587,061
Customer deposits	1,576,160	1,611,476
Accrued expenses	2,761,241	3,565,210
Interest rate swaps	368,141	533,795
Regulatory liabilities	272,907	890,313
Total current liabilities	21,605,817	16,570,742
LONG-TERM DEBT:
Notes payable	113,925,200	114,975,200
Line-of-credit	9,482,600	9,143,606
Less unamortized debt issuance costs	(256,413)	(299,175)
Long-term debt, net	123,151,387	123,819,631
DEFERRED CREDITS AND OTHER LIABILITIES:
Interest rate swaps	989,169	1,689,761
Asset retirement obligations	7,505,590	7,180,982
Regulatory cost of retirement obligations	13,439,053	12,678,043
Benefit plan liabilities	5,935,922	6,149,527
Deferred income taxes	14,853,364	13,973,762
Regulatory liabilities	10,542,692	10,729,082
Total deferred credits and other liabilities	53,265,790	52,401,157
STOCKHOLDERS’ EQUITY:
Common stock, $5 par; authorized 20,000,000 shares; issued and outstanding 8,325,692 and 8,160,058 shares, respectively	41,628,460	40,800,290
Preferred stock, no par, authorized 5,000,000 shares; no shares issued and outstanding	0	0
Capital in excess of par value	18,764,700	15,847,121
Retained earnings	41,205,655	35,688,510
Accumulated other comprehensive loss	(2,760,077)	(3,447,944)
Total stockholders’ equity	98,838,738	88,887,977
TOTAL LIABILITIES AND STOCKHOLDERS’ EQUITY	$ 296,861,732	$ 281,679,507

Condensed Consolidated Balanc_2

Condensed Consolidated Balance Sheets (Current Period Unaudited) (Parentheticals) - USD ($)	Jun. 30, 2021	Sep. 30, 2020
Accounts receivable, allowance for uncollectibles	$ 935,604	$ 703,140
Common stock, par value (in dollars per share)	$ 5	$ 5
Common stock, shares authorized (in shares)	20,000,000	20,000,000
Common stock, shares issued (in shares)	8,325,692	8,160,058
Common stock, shares outstanding (in shares)	8,325,692	8,160,058
Preferred stock, par value (in dollars per share)	$ 0	$ 0
Preferred stock, shares authorized (in shares)	5,000,000	5,000,000
Preferred stock, shares issued (in shares)	0	0
Preferred stock, shares outstanding (in shares)	0	0

Condensed Consolidated Statemen

Condensed Consolidated Statements of Income (Unaudited) - USD ($)	3 Months Ended		9 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020
OPERATING REVENUES:
Operating revenues	$ 14,048,846	$ 11,071,918	$ 61,819,525	$ 53,295,102
OPERATING EXPENSES:
Operations and maintenance	3,535,642	3,426,231	10,969,234	11,453,850
General taxes	561,071	527,418	1,777,920	1,658,528
Depreciation and amortization	2,115,758	1,988,505	6,397,460	5,965,226
Total operating expenses	12,506,513	9,736,255	47,596,379	39,877,844
OPERATING INCOME	1,542,333	1,335,663	14,223,146	13,417,258
Equity in earnings of unconsolidated affiliate	133,864	1,205,574	1,486,750	3,488,253
Other income, net	130,186	52,556	747,760	528,091
Interest expense	1,000,238	986,203	3,027,831	3,109,681
INCOME BEFORE INCOME TAXES	806,145	1,607,590	13,429,825	14,323,921
INCOME TAX EXPENSE	195,305	401,012	3,328,244	3,430,091
NET INCOME	$ 610,840	$ 1,206,578	$ 10,101,581	$ 10,893,830
BASIC EARNINGS PER COMMON SHARE (in dollars per share)	$ 0.07	$ 0.15	$ 1.23	$ 1.34
DILUTED EARNINGS PER COMMON SHARE (in dollars per share)	0.07	0.15	1.23	1.34
DIVIDENDS DECLARED PER COMMON SHARE (in dollars per share)	$ 0.185	$ 0.175	$ 0.555	$ 0.525
Gas Utility [Member]
OPERATING REVENUES:
Operating revenues	$ 14,016,681	$ 10,856,453	$ 61,721,455	$ 52,757,778
OPERATING EXPENSES:
Cost of gas and sales	6,289,615	3,680,408	28,437,371	20,531,211
Non-utility [Member]
OPERATING REVENUES:
Operating revenues	32,165	215,465	98,070	537,324
OPERATING EXPENSES:
Cost of gas and sales	$ 4,427	$ 113,693	$ 14,394	$ 269,029

Condensed Consolidated Statem_2

Condensed Consolidated Statements of Comprehensive Income (Unaudited) - USD ($)	3 Months Ended		9 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020
Net income	$ 610,840	$ 1,206,578	$ 10,101,581	$ 10,893,830
Other comprehensive income (loss), net of tax:
Interest rate swaps	(19,744)	(126,800)	643,275	(1,080,321)
Defined benefit plans	14,864	16,791	44,592	50,373
OTHER COMPREHENSIVE INCOME (LOSS), NET OF TAX	(4,880)	(110,009)	687,867	(1,029,948)
COMPREHENSIVE INCOME	$ 605,960	$ 1,096,569	$ 10,789,448	$ 9,863,882

Condensed Consolidated Statem_3

Condensed Consolidated Statements of Changes in Stockholders' Equity (Unaudited) - USD ($)	Common Stock [Member]	Additional Paid-in Capital [Member]	Retained Earnings [Member]	AOCI Attributable to Parent [Member]	Total
Balance at Sep. 30, 2019	$ 40,366,320	$ 14,397,072	$ 30,821,917	$ (2,488,917)	$ 83,096,392
Net Income (Loss)			4,006,936		4,006,936
Other comprehensive income (loss)				279,844	279,844
Cash dividends declared			(1,419,236)		(1,419,236)
Issuance of common stock	90,265	304,934	0	0	395,199
Balance at Dec. 31, 2019	40,456,585	14,702,006	33,409,617	(2,209,073)	86,359,135
Balance at Sep. 30, 2019	40,366,320	14,397,072	30,821,917	(2,488,917)	83,096,392
Net Income (Loss)					10,893,830
Other comprehensive income (loss)					(1,029,948)
Balance at Jun. 30, 2020	40,737,185	15,586,761	37,446,071	(3,518,865)	90,251,152
Balance at Dec. 31, 2019	40,456,585	14,702,006	33,409,617	(2,209,073)	86,359,135
Net Income (Loss)	0	0	5,680,316	0	5,680,316
Other comprehensive income (loss)	0	0	0	(1,199,783)	(1,199,783)
Cash dividends declared	0	0	(1,424,192)	0	(1,424,192)
Issuance of common stock	228,140	673,731	0	0	901,871
Balance at Mar. 31, 2020	40,684,725	15,375,737	37,665,741	(3,408,856)	90,317,347
Net Income (Loss)	0	0	1,206,578	0	1,206,578
Other comprehensive income (loss)	0	0	0	(110,009)	(110,009)
Cash dividends declared	0	0	(1,426,248)	0	(1,426,248)
Issuance of common stock	52,460	170,332	0	0	222,792
Stock option grants	0	40,692	0	0	40,692
Balance at Jun. 30, 2020	40,737,185	15,586,761	37,446,071	(3,518,865)	90,251,152
Balance at Sep. 30, 2020	40,800,290	15,847,121	35,688,510	(3,447,944)	88,887,977
Net Income (Loss)	0	0	4,723,263	0	4,723,263
Other comprehensive income (loss)	0	0	0	183,589	183,589
Cash dividends declared	0	0	(1,519,670)	0	(1,519,670)
Issuance of common stock	59,895	214,487	0	0	274,382
Balance at Dec. 31, 2020	40,860,185	16,061,608	38,892,103	(3,264,355)	92,549,541
Balance at Sep. 30, 2020	40,800,290	15,847,121	35,688,510	(3,447,944)	88,887,977
Net Income (Loss)					10,101,581
Other comprehensive income (loss)				687,867	687,867
Balance at Jun. 30, 2021	41,628,460	18,764,700	41,205,655	(2,760,077)	98,838,738
Balance at Dec. 31, 2020	40,860,185	16,061,608	38,892,103	(3,264,355)	92,549,541
Net Income (Loss)	0	0	4,767,478	0	4,767,478
Other comprehensive income (loss)	0	0	0	509,158	509,158
Cash dividends declared	0	0	(1,521,635)	0	(1,521,635)
Issuance of common stock	273,065	997,001	0	0	1,270,066
Balance at Mar. 31, 2021	41,133,250	17,058,609	42,137,946	(2,755,197)	97,574,608
Net Income (Loss)	0	0	610,840	0	610,840
Other comprehensive income (loss)	0	0	0	(4,880)	(4,880)
Cash dividends declared	0	0	(1,543,131)	0	(1,543,131)
Issuance of common stock	495,210	1,703,316	0	0	2,198,526
Stock option grants	0	2,775	0	0	2,775
Balance at Jun. 30, 2021	$ 41,628,460	$ 18,764,700	$ 41,205,655	$ (2,760,077)	$ 98,838,738

Condensed Consolidated Statem_4

Condensed Consolidated Statements of Changes in Stockholders' Equity (Unaudited) (Parentheticals) - $ / shares	3 Months Ended
	Jun. 30, 2021	Mar. 31, 2021	Dec. 31, 2020	Jun. 30, 2020	Mar. 31, 2020	Dec. 31, 2019
Dividends declared per share (in dollars per share)	$ 0.185	$ 0.185	$ 0.185	$ 0.175	$ 0.175	$ 0.175
Common stock issued (in shares)	99,042	54,613	11,979	10,492	45,628	18,053

Condensed Consolidated Statem_5

Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)	9 Months Ended
	Jun. 30, 2021	Jun. 30, 2020
CASH FLOWS FROM OPERATING ACTIVITIES:
Net income	$ 10,101,581	$ 10,893,830
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization	6,583,841	6,143,085
Cost of retirement of utility plant, net	(424,628)	(391,297)
Stock option grants	2,775	40,692
Equity in earnings of unconsolidated affiliate	(1,486,750)	(3,488,253)
Allowance for funds used during construction	(55,981)	(272,108)
Changes in assets and liabilities which used cash, exclusive of changes and noncash transactions shown separately	(304,611)	(99,850)
Net cash provided by operating activities	14,416,227	12,826,099
CASH FLOWS FROM INVESTING ACTIVITIES:
Expenditures for utility property	(14,962,459)	(16,969,559)
Investment in unconsolidated affiliates	(4,171,356)	(6,590,424)
Proceeds from disposal of utility property	132,536	53,921
Net cash used in investing activities	(19,001,279)	(23,506,062)
CASH FLOWS FROM FINANCING ACTIVITIES:
Proceeds from issuance of unsecured notes	5,950,000	18,298,000
Borrowings under line-of-credit	34,091,154	14,096,520
Repayments under line-of-credit	(33,752,160)	(19,410,863)
Debt issuance expenses	0	(70,750)
Proceeds from issuance of stock	3,742,974	1,519,862
Cash dividends paid	(4,469,571)	(4,182,949)
Net cash provided by financing activities	5,562,397	10,249,820
NET INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS	977,345	(430,143)
BEGINNING CASH AND CASH EQUIVALENTS	291,066	1,631,348
ENDING CASH AND CASH EQUIVALENTS	$ 1,268,411	$ 1,201,205

Note 1 - Basis of Presentation

Note 1 - Basis of Presentation	9 Months Ended
	Jun. 30, 2021
Notes to Financial Statements
Significant Accounting Policies [Text Block]	1. Basis of Presentation Resources is an energy services company primarily engaged in the sale and distribution of natural gas. The condensed consolidated financial statements include the accounts of Resources and its wholly-owned subsidiaries: Roanoke Gas, Diversified Energy and Midstream. In the opinion of management, the accompanying unaudited condensed consolidated financial statements contain all adjustments (consisting of only normal recurring accruals) necessary to fairly present Resources' financial position as of June 30, 2021 nine June 30, 2021 2020 three nine June 30, 2021 2020 three nine June 30, 2021 not September 30, 2021 The unaudited condensed consolidated financial statements and condensed notes are presented as permitted under the rules and regulations of the SEC. Pursuant to those rules, certain information and note disclosures normally included in the annual financial statements prepared in accordance with GAAP have been condensed or omitted, although the Company believes that the disclosures are adequate to make the information not 10 September 30, 2020 September 30, 2020 10 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 10 September 30, 2020 Recently Issued or Adopted Accounting Standards In August 2018, 2018 14, Compensation - Retirement Benefits - Defined Benefit Plans - General (Subtopic 715 20 September 30, 2021. October 1, 2020. not In March 2020, 2020 04, Reference Rate Reform (Topic 848 2021 01, December 31, 2022. one one six one June 2023 no may December 31, 2021. one None not 2022. Other accounting standards that have been issued by the FASB or other standard-setting bodies are not not

Note 2 - Revenue

Note 2 - Revenue	9 Months Ended
	Jun. 30, 2021
Notes to Financial Statements
Revenue from Contract with Customer [Text Block]	2. Revenue The Company assesses new contracts and identifies related performance obligations for promises to transfer distinct goods or services to the customer. Revenue is recognized when performance obligations have been satisfied. In the case of Roanoke Gas, the Company contracts with its customers for the sale and/or delivery of natural gas. The following tables summarize revenue by customer, product and income statement classification: Three Months Ended June 30, 2021 Three Months Ended June 30, 2020 Gas utility Non utility Total operating revenues Gas utility Non utility Total operating revenues Natural Gas (Billed and Unbilled): Residential $ 7,755,301 $ — $ 7,755,301 $ 6,682,586 $ — $ 6,682,586 Commercial 4,878,644 — 4,878,644 3,157,873 — 3,157,873 Industrial and Transportation 1,257,400 — 1,257,400 1,401,775 — 1,401,775 Other 113,342 32,165 145,507 56,723 215,465 272,188 Total contracts with customers 14,004,687 32,165 14,036,852 11,298,957 215,465 11,514,422 Alternative Revenue Programs 11,994 — 11,994 (442,504 ) — (442,504 ) Total operating revenues $ 14,016,681 $ 32,165 $ 14,048,846 $ 10,856,453 $ 215,465 $ 11,071,918 Nine Months Ended June 30, 2021 Nine Months Ended June 30, 2020 Gas utility Non utility Total operating revenues Gas utility Non utility Total operating revenues Natural Gas (Billed and Unbilled): Residential $ 36,404,047 $ — $ 36,404,047 $ 31,859,828 $ — $ 31,859,828 Commercial 20,133,275 — 20,133,275 15,260,652 — 15,260,652 Industrial and Transportation 3,733,544 — 3,733,544 3,972,444 — 3,972,444 Other 369,511 98,070 467,581 390,184 537,324 927,508 Total contracts with customers 60,640,377 98,070 60,738,447 51,483,108 537,324 52,020,432 Alternative Revenue Programs 1,081,078 — 1,081,078 1,274,670 — 1,274,670 Total operating revenues $ 61,721,455 $ 98,070 $ 61,819,525 $ 52,757,778 $ 537,324 $ 53,295,102 Gas utility revenues Substantially all of Roanoke Gas' revenues are derived from rates authorized by the SCC through its tariffs. Based on its evaluation, the Company has concluded that these tariff-based revenues fall within the scope of ASC 606. All customers are billed monthly based on consumption as measured by metered usage. Revenue is recognized as bills are issued for natural gas that has been delivered or transported. In addition, the Company utilizes the practical expedient that allows an entity to recognize the invoiced amount as revenue, if that amount corresponds to the value received by the customer. Since customers are billed tariff rates, there is no Unbilled revenue is included in residential and commercial revenues in the preceding table. Natural gas consumption is estimated for the period subsequent to the last billed date and up through the last day of the month. Estimated volumes and approved tariff rates are utilized to calculate unbilled revenue. The following month, the unbilled estimate is reversed, the actual usage is billed and a new unbilled estimate is calculated. The Company obtains metered usage for industrial customers at the end of each month, thereby eliminating any unbilled consideration for these rate classes. Other revenues Other revenues primarily consist of miscellaneous fees and charges, utility-related revenues not no Alternative Revenue Program revenues ARPs, which fall outside the scope of ASC 606, 30 Customer Accounts Receivable Accounts receivable, as reflected in the condensed consolidated balance sheets, includes both billed and unbilled customer revenues, as well as amounts that are not Current Assets Current Liabilities Trade accounts receivable (1) Unbilled revenue (1) Customer credit balances Customer deposits Balance at September 30, 2020 $ 2,343,492 $ 1,041,518 $ 1,587,061 $ 1,611,476 Balance at June 30, 2021 3,665,023 1,079,046 842,992 1,576,160 Increase (decrease) $ 1,321,531 $ 37,528 $ (744,069 ) $ (35,316 ) ( 1 The Company had no not

Note 3 - Income Taxes

Note 3 - Income Taxes	9 Months Ended
	Jun. 30, 2021
Notes to Financial Statements
Income Tax Disclosure [Text Block]	3. Income Taxes A reconciliation of income tax expense from applying the federal statutory rates in effect for each period to total income tax expense is presented below: Three Months Ended June 30, Nine Months Ended June 30, 2021 2020 2021 2020 Income before income taxes $ 806,145 $ 1,607,590 $ 13,429,825 $ 14,323,921 Corporate federal tax rate 21.0 % 21.0 % 21.0 % 21.0 % Income tax expense computed at the federal statutory rate $ 169,290 $ 337,593 $ 2,820,263 $ 3,008,023 State income taxes, net of federal tax benefit 39,458 77,349 647,448 666,017 Net amortization of excess deferred taxes on regulated operations (14,081 ) (14,081 ) (138,413 ) (138,413 ) Other, net 638 151 (1,054 ) (105,536 ) Total income tax expense $ 195,305 $ 401,012 $ 3,328,244 $ 3,430,091 Effective tax rate 24.2 % 24.9 % 24.8 % 23.9 % The Company is currently evaluating the R&D credit for fiscal years 2017 2020 not

Note 4 - Rates and Regulatory M

Note 4 - Rates and Regulatory Matters	9 Months Ended
	Jun. 30, 2021
Notes to Financial Statements
Public Utilities Disclosure [Text Block]	4. Rates and Regulatory Matters Since March 16, 2020, 19, August 30, 2021. In April 2020, 19 not 19 2021 In May 2021, October 2021 September 2022. 1973 1971 September 30, 2021. CARES Act funds have been provided to assist customers with past due balances. In December 2020, second third

Note 5 - Other Investments

Note 5 - Other Investments	9 Months Ended
	Jun. 30, 2021
Notes to Financial Statements
Equity Method Investments and Joint Ventures Disclosure [Text Block]	5. Other Investments Midstream is an approximately 1% owner of the LLC constructing the MVP. Due to various legal and regulatory delays, the LLC changed its approach in seeking authorization to cross all remaining streams and wetlands on the project route. It requested individual permits from the U.S. Army Corps of Engineers to cross certain streams and wetlands utilizing open cut techniques and has applied to amend the MVP project's CPCN to seek FERC authority to cross certain streams and wetlands utilizing alternative trenchless construction methods. The LLC is targeting a full in-service date for the MVP project in summer 2022 The LLC temporarily suspended accruing AFUDC on the project beginning January 1, 2021 March 31, 2021 April 1, 2021 Roanoke Gas will continue to suspend accruing AFUDC on its two first December 31, 2020. Funding for Midstream's investments in the LLC for both the MVP and Southgate projects is being provided through two December 2022, two June 2019. 7 The investments in the LLC are included in the accompanying financial statements as follows: Balance Sheet location: June 30, 2021 September 30, 2020 Other Assets: MVP $ 62,141,694 $ 57,183,063 Southgate 400,161 359,742 Investment in unconsolidated affiliates $ 62,541,855 $ 57,542,805 Current Liabilities: MVP $ 1,850,876 $ 2,501,883 Southgate 2,505 10,554 Capital contributions payable $ 1,853,381 $ 2,512,437 Three Months Ended Nine Months Ended Income Statement location: June 30, 2021 June 30, 2020 June 30, 2021 June 30, 2020 Equity in earnings of unconsolidated affiliate $ 133,864 $ 1,205,574 $ 1,486,750 $ 3,488,253 June 30, 2021 September 30, 2020 Undistributed earnings, net of income taxes, of MVP in retained earnings $ 7,946,763 $ 6,842,702 The change in the investment in unconsolidated affiliates is provided below: Nine Months Ended June 30, 2021 June 30, 2020 Cash investment $ 4,171,356 $ 6,590,424 Change in accrued capital calls (659,056 ) (2,597,426 ) Equity in earnings of unconsolidated affiliate 1,486,750 3,488,253 Change in investment in unconsolidated affiliates $ 4,999,050 $ 7,481,251 Summary unaudited financial statements of MVP are presented below. Southgate financial statements, which are accounted for under the cost method, are not Income Statements Three Months Ended Nine Months Ended June 30, 2021 June 30, 2020 June 30, 2021 June 30, 2020 AFUDC $ 12,917,004 $ 120,874,005 $ 146,674,318 $ 348,654,366 Other income (expense), net (145,581 ) (18,925 ) (192,675 ) 680,682 Net income $ 12,771,423 $ 120,855,080 $ 146,481,643 $ 349,335,048 Balance Sheets June 30, 2021 September 30, 2020 Assets: Current assets $ 230,303,657 $ 513,713,429 Construction work in progress 6,098,744,245 5,536,248,668 Other assets 2,363,875 4,597,441 Total assets $ 6,331,411,777 $ 6,054,559,538 Liabilities and Equity: Current liabilities $ 242,401,943 $ 187,581,804 Noncurrent liabilities — 245,000 Capital 6,089,009,834 5,866,732,734 Total liabilities and equity $ 6,331,411,777 $ 6,054,559,538

Note 6 - Derivatives and Hedgin

Note 6 - Derivatives and Hedging	9 Months Ended
	Jun. 30, 2021
Notes to Financial Statements
Derivative Instruments and Hedging Activities Disclosure [Text Block]	6. Derivatives and Hedging The Company’s hedging and derivative policy allows management to enter into derivatives for the purpose of managing the commodity and financial market risks of its business operations, including the price of natural gas and the cost of borrowed funds. This policy specifically prohibits the use of derivatives for speculative purposes. The Company has three two two No The Company had no The fair value of the current and non-current portions of the interest rate swaps are reflected in the condensed consolidated balance sheets under the caption interest rate swaps. The table in Note 8

Note 7 - Long-term Debt

Note 7 - Long-term Debt	9 Months Ended
	Jun. 30, 2021
Notes to Financial Statements
Long-term Debt [Text Block]	7. Long-Term Debt On March 25, 2021, two March 31, 2023 not 12 30 Long-term debt consists of the following: June 30, 2021 September 30, 2020 Principal Unamortized Debt Issuance Costs Principal Unamortized Debt Issuance Costs Roanoke Gas: Unsecured senior notes payable, at 4.26 $ 30,500,000 $ 127,917 $ 30,500,000 $ 135,157 Unsecured term note payable, at 30-day LIBOR plus 0.90 7,000,000 1,112 7,000,000 3,613 Unsecured term notes payable, at 3.58 8,000,000 30,100 8,000,000 33,712 Unsecured term notes payable, at 4.41 10,000,000 30,543 10,000,000 32,892 Unsecured term notes payable, at 3.60 10,000,000 29,943 10,000,000 32,585 Midstream: Unsecured term notes payable, at 30-day LIBOR plus 1.35 31,425,200 17,885 25,475,200 38,728 Unsecured term note payable, at 30-day LIBOR plus 1.15 14,000,000 12,038 14,000,000 13,844 Unsecured term note payable, at 30-day LIBOR plus 1.20 10,000,000 6,875 10,000,000 8,644 Total notes payable, current and non-current 120,925,200 256,413 114,975,200 299,175 Less: current maturities of long-term debt (7,000,000 ) — — — Total notes payable $ 113,925,200 $ 256,413 $ 114,975,200 $ 299,175 Line-of-credit, at 30-day LIBOR plus 1.00 9,482,600 - 9,143,606 - Total long-term debt $ 123,407,800 $ 256,413 $ 124,118,806 $ 299,175 All debt agreements set forth certain representations, warranties and covenants to which the Company is subject, including financial covenants that limit consolidated long-term indebtedness to not not June 30, 2021 September 30, 2020.

Note 8 - Other Comprehensive In

Note 8 - Other Comprehensive Income (Loss)	9 Months Ended
	Jun. 30, 2021
Notes to Financial Statements
Comprehensive Income (Loss) Note [Text Block]	8. Other Comprehensive Income (Loss) A summary of other comprehensive income and loss is provided below: Tax Before-Tax (Expense) Net-of-Tax Amount or Benefit Amount Three Months Ended June 30, 2021 Interest rate swaps: Unrealized losses $ (166,066 ) $ 42,745 $ (123,321 ) Transfer of realized losses to interest expense 139,478 (35,901 ) 103,577 Net interest rate swaps (26,588 ) 6,844 (19,744 ) Defined benefit plans: Amortization of actuarial losses 20,017 (5,153 ) 14,864 Other comprehensive loss $ (6,571 ) $ 1,691 $ (4,880 ) Three Months Ended June 30, 2020 Interest rate swaps: Unrealized losses $ (278,752 ) $ 71,751 $ (207,001 ) Transfer of realized losses to interest expense 108,002 (27,801 ) 80,201 Net interest rate swaps (170,750 ) 43,950 (126,800 ) Defined benefit plans: Amortization of actuarial losses 22,610 (5,819 ) 16,791 Other comprehensive loss $ (148,140 ) $ 38,131 $ (110,009 ) Tax Before-Tax (Expense) Net-of-Tax Amount or Benefit Amount Nine Months Ended June 30, 2021 Interest rate swaps: Unrealized gains $ 453,060 $ (116,619 ) $ 336,441 Transfer of realized losses to interest expense 413,186 (106,352 ) 306,834 Net interest rate swaps 866,246 (222,971 ) 643,275 Defined benefit plans: Amortization of actuarial losses 60,051 (15,459 ) 44,592 Other comprehensive income $ 926,297 $ (238,430 ) $ 687,867 Nine Months Ended June 30, 2020 Interest rate swaps: Unrealized losses $ (1,583,021 ) $ 407,469 $ (1,175,552 ) Transfer of realized losses to interest expense 128,240 (33,009 ) 95,231 Net interest rate swaps (1,454,781 ) 374,460 (1,080,321 ) Defined benefit plans: Amortization of actuarial losses 67,830 (17,457 ) 50,373 Other comprehensive loss $ (1,386,951 ) $ 357,003 $ (1,029,948 ) The amortization of actuarial gains and losses, reflected in the preceding table, relate to the unregulated operations of the Company. Actuarial gains and losses attributable to the regulated operations are included as a regulatory asset. See Note 14 Reconciliation of Accumulated Other Comprehensive Income (Loss) Accumulated Other Interest Rate Defined Benefit Comprehensive Swaps Plans Income (Loss) Balance at September 30, 2020 $ (1,651,213 ) $ (1,796,731 ) $ (3,447,944 ) Other comprehensive income 643,275 44,592 687,867 Balance at June 30, 2021 $ (1,007,938 ) $ (1,752,139 ) $ (2,760,077 )

Note 9 - Commitments and Contin

Note 9 - Commitments and Contingencies	9 Months Ended
	Jun. 30, 2021
Notes to Financial Statements
Commitments and Contingencies Disclosure [Text Block]	9. Commitments and Contingencies The outbreak of COVID- 19 19 The existence of variant strains of the virus and reduced focus on safety measures may 19

Note 10 - Earnings Per Share

Note 10 - Earnings Per Share	9 Months Ended
	Jun. 30, 2021
Notes to Financial Statements
Earnings Per Share [Text Block]	10. Earnings Per Share Basic earnings per common share for the three nine June 30, 2021 2020 A reconciliation of basic and diluted earnings per share is presented below: Three Months Ended June 30, Nine Months Ended June 30, 2021 2020 2021 2020 Net income $ 610,840 $ 1,206,578 $ 10,101,581 $ 10,893,830 Weighted average common shares 8,260,579 8,143,887 8,215,215 8,115,836 Effect of dilutive securities: Options to purchase common stock 12,624 15,437 13,287 23,178 Diluted average common shares 8,273,203 8,159,324 8,228,502 8,139,014 Earnings per share of common stock: Basic $ 0.07 $ 0.15 $ 1.23 $ 1.34 Diluted $ 0.07 $ 0.15 $ 1.23 $ 1.34

Note 11 - Employee Benefit Plan

Note 11 - Employee Benefit Plans	9 Months Ended
	Jun. 30, 2021
Notes to Financial Statements
Retirement Benefits [Text Block]	11. Employee Benefit Plans The Company has both a pension plan and a postretirement plan. The pension plan covers the Company’s employees hired before January 1, 2017 Three Months Ended Nine Months Ended June 30, June 30, 2021 2020 2021 2020 Components of net periodic pension cost: Service cost $ 183,570 $ 172,902 $ 550,710 $ 518,706 Interest cost 243,785 265,557 731,355 796,671 Expected return on plan assets (503,936 ) (459,156 ) (1,511,808 ) (1,377,468 ) Recognized loss 125,535 113,936 376,605 341,808 Net periodic pension cost $ 48,954 $ 93,239 $ 146,862 $ 279,717 Three Months Ended Nine Months Ended June 30, June 30, 2021 2020 2021 2020 Components of postretirement benefit cost: Service cost $ 35,172 $ 41,970 $ 105,516 $ 125,910 Interest cost 107,623 132,869 322,869 398,607 Expected return on plan assets (149,122 ) (137,599 ) (447,366 ) (412,797 ) Recognized loss 38,664 59,343 115,992 178,029 Net postretirement benefit cost $ 32,337 $ 96,583 $ 97,011 $ 289,749 The components of net periodic benefit cost, other than the service cost component, are included in other income, net in the condensed consolidated statements of income. Service cost is included in operations and maintenance expense in the condensed consolidated statements of income. The table below reflects the Company's actual contributions made fiscal year-to-date and the expected remaining contributions to be made during the balance of the current fiscal year. Management is currently evaluating its expected contributions for the current fiscal year; therefore, the amounts presented below may Fiscal Year-to-Date Contributions Remaining Fiscal Year Contributions Pension plan $ — $ 500,000 Postretirement plan — 400,000 Total $ — $ 900,000

Note 12 - Fair Value Measuremen

Note 12 - Fair Value Measurements	9 Months Ended
	Jun. 30, 2021
Notes to Financial Statements
Fair Value Disclosures [Text Block]	12. Fair Value Measurements FASB ASC No. 820, Fair Value Measurements and Disclosures one three Level 1 Level 2 1 not Level 3 The fair value hierarchy gives the highest priority to unadjusted quoted prices in active markets (Level 1 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: Fair Value Measurements - June 30, 2021 Quoted Significant Prices Other Significant in Active Observable Unobservable Fair Markets Inputs Inputs Value (Level 1) (Level 2) (Level 3) Liabilities: Natural gas purchases $ 1,292,893 $ — $ 1,292,893 $ — Interest rate swaps 1,357,310 — 1,357,310 — Total $ 2,650,203 $ — $ 2,650,203 $ — Fair Value Measurements - September 30, 2020 Quoted Significant Prices Other Significant in Active Observable Unobservable Fair Markets Inputs Inputs Value (Level 1) (Level 2) (Level 3) Liabilities: Natural gas purchases $ 470,755 $ — $ 470,755 $ — Interest rate swaps 2,223,556 — 2,223,556 — Total $ 2,694,311 $ — $ 2,694,311 $ — The fair value of the interest rate swaps are determined by using the counterparty's proprietary models and certain assumptions regarding past, present and future market conditions. 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 June 30, 2021 September 30, 2020 first The Company’s nonfinancial assets and liabilities measured at fair value on a nonrecurring basis consist of its AROs. The AROs 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, borrowings under line-of-credit, 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. In addition, the carrying amount of the variable rate line-of-credit is a reasonable approximation of its fair value. The following table summarizes the fair value of the Company’s financial assets and liabilities that are not Fair Value Measurements - June 30, 2021 Quoted Significant Prices Other Significant in Active Observable Unobservable Carrying Markets Inputs Inputs Value (Level 1) (Level 2) (Level 3) Liabilities: Current maturities of long-term debt $ 7,000,000 — — $ 7,000,000 Notes payable 113,925,200 $ — $ — 123,206,721 Total $ 120,925,200 $ — $ — $ 130,206,721 Fair Value Measurements - September 30, 2020 Quoted Significant Prices Other Significant in Active Observable Unobservable Carrying Markets Inputs Inputs Value (Level 1) (Level 2) (Level 3) Liabilities: Notes payable $ 114,975,200 $ — $ — $ 124,740,970 Total $ 114,975,200 $ — $ — $ 124,740,970 The fair value of long-term debt is estimated by discounting the future cash flows of the fixed rate debt based on the underlying Treasury rate or other Treasury instruments with a corresponding maturity period and estimated credit spread extrapolated based on market conditions since the issuance of the debt. FASB ASC 825, Financial Instruments three June 30, 2021 September 30, 2020 no 5%

Note 13 - Segment Information

Note 13 - Segment Information	9 Months Ended
	Jun. 30, 2021
Notes to Financial Statements
Segment Reporting Disclosure [Text Block]	13. Segment Information Operating segments are defined as components of an enterprise for which separate financial information is available and is evaluated regularly by the Company's chief operating decision maker in deciding how to allocate resources and assess performance. The Company uses operating income and equity in earnings to assess segment performance. Intersegment transactions are recorded at cost. The reportable segments disclosed herein are defined as follows: Gas Utility Investment in Affiliates Parent and Other Information related to the segments of the Company are provided below: Three Months Ended June 30, 2021 Gas Utility Investment in Affiliates Parent and Other Consolidated Total Operating revenues $ 14,016,681 $ — $ 32,165 $ 14,048,846 Depreciation 2,115,758 — — 2,115,758 Operating income (loss) 1,563,436 (47,390 ) 26,287 1,542,333 Equity in earnings — 133,864 — 133,864 Interest expense 693,265 306,973 — 1,000,238 Income (loss) before income taxes 998,342 (218,579 ) 26,382 806,145 Three Months Ended June 30, 2020 Gas Utility Investment in Affiliates Parent and Other Consolidated Total Operating revenues $ 10,856,453 $ — $ 215,465 $ 11,071,918 Depreciation 1,988,505 — — 1,988,505 Operating income (loss) 1,291,678 (55,097 ) 99,082 1,335,663 Equity in earnings — 1,205,574 — 1,205,574 Interest expense 667,702 318,501 — 986,203 Income before income taxes 674,351 834,054 99,185 1,607,590 Nine Months Ended June 30, 2021 Gas Utility Investment in Affiliates Parent and Other Consolidated Total Operating revenues $ 61,721,455 $ — $ 98,070 $ 61,819,525 Depreciation 6,397,460 — — 6,397,460 Operating income (loss) 14,352,010 (200,532 ) 71,668 14,223,146 Equity in earnings — 1,486,750 — 1,486,750 Interest expense 2,105,127 922,704 — 3,027,831 Income before income taxes 12,984,346 373,466 72,013 13,429,825 Nine Months Ended June 30, 2020 Gas Utility Investment in Affiliates Parent and Other Consolidated Total Operating revenues $ 52,757,778 $ — $ 537,324 $ 53,295,102 Depreciation 5,965,226 — — 5,965,226 Operating income (loss) 13,321,691 (163,214 ) 258,781 13,417,258 Equity in earnings — 3,488,253 — 3,488,253 Interest expense 2,048,552 1,061,129 — 3,109,681 Income before income taxes 11,795,644 2,269,106 259,171 14,323,921 June 30, 2021 Gas Utility Investment in Affiliates Parent and Other Consolidated Total Total assets $ 221,576,186 $ 63,353,786 $ 11,931,760 $ 296,861,732 September 30, 2020 Gas Utility Investment in Affiliates Parent and Other Consolidated Total Total assets $ 211,994,364 $ 57,660,105 $ 12,025,038 $ 281,679,507

Note 14 - Regulatory Assets and

Note 14 - Regulatory Assets and Liabilities	9 Months Ended
	Jun. 30, 2021
Notes to Financial Statements
Schedule of Regulatory Assets and Liabilities [Text Block]	14. Regulatory Assets and Liabilities The Company’s regulated operations follow the accounting and reporting requirements of FASB ASC No. 980, Regulated Operations No. 980 no No. 980 no Regulatory assets included in the Company’s accompanying balance sheets are as follows: June 30, 2021 September 30, 2020 Assets: Current Assets: Regulatory assets: Under-recovery of gas costs $ 1,663,017 $ 1,733,718 Under-recovery of SAVE Plan revenues 123,603 108,550 Accrued pension and postretirement medical 144,182 576,731 Other deferred expenses 84,315 84,315 Total current 2,015,117 2,503,314 Utility Property: In service: Other 11,945 11,945 Construction work in progress: AFUDC 386,189 330,208 Other Assets: Regulatory assets: Premium on early retirement of debt 1,512,980 1,598,620 Accrued pension and postretirement medical 9,156,546 9,156,546 Other deferred expenses 324,849 214,928 Total non-current 10,994,375 10,970,094 Total regulatory assets $ 13,407,626 $ 13,815,561 Regulatory liabilities included in the Company’s accompanying balance sheets are as follows: June 30, 2021 September 30, 2020 Liabilities and Stockholders' Equity: Current Liabilities: Regulatory liabilities: WNA $ 64,275 $ 601,784 Excess deferred income taxes 205,353 205,353 Other deferred liabilities 3,279 83,176 Total current 272,907 890,313 Deferred Credits and Other Liabilities: Asset retirement obligations 7,505,590 7,180,982 Regulatory cost of retirement obligations 13,439,053 12,678,043 Regulatory Liabilities: Excess deferred income taxes 10,542,692 10,729,082 Total non-current 31,487,335 30,588,107 Total regulatory liabilities $ 31,760,242 $ 31,478,420 As of June 30, 2021 September 30, 2020 not

Note 15 - Subsequent Events

Note 15 - Subsequent Events	9 Months Ended
	Jun. 30, 2021
Notes to Financial Statements
Subsequent Events [Text Block]	15. Subsequent Events The Company has evaluated subsequent events through the date the financial statements were issued. There were no not

Significant Accounting Policies

Significant Accounting Policies (Policies)	9 Months Ended
	Jun. 30, 2021
Accounting Policies [Abstract]
Basis of Accounting, Policy [Policy Text Block]	Basis of Presentation Resources is an energy services company primarily engaged in the sale and distribution of natural gas. The condensed consolidated financial statements include the accounts of Resources and its wholly-owned subsidiaries: Roanoke Gas, Diversified Energy and Midstream. In the opinion of management, the accompanying unaudited condensed consolidated financial statements contain all adjustments (consisting of only normal recurring accruals) necessary to fairly present Resources' financial position as of June 30, 2021 nine June 30, 2021 2020 three nine June 30, 2021 2020 three nine June 30, 2021 not September 30, 2021 The unaudited condensed consolidated financial statements and condensed notes are presented as permitted under the rules and regulations of the SEC. Pursuant to those rules, certain information and note disclosures normally included in the annual financial statements prepared in accordance with GAAP have been condensed or omitted, although the Company believes that the disclosures are adequate to make the information not 10 September 30, 2020 September 30, 2020 10 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 10 September 30, 2020
New Accounting Pronouncements, Policy [Policy Text Block]	Recently Issued or Adopted Accounting Standards In August 2018, 2018 14, Compensation - Retirement Benefits - Defined Benefit Plans - General (Subtopic 715 20 September 30, 2021. October 1, 2020. not In March 2020, 2020 04, Reference Rate Reform (Topic 848 2021 01, December 31, 2022. one one six one June 2023 no may December 31, 2021. one None not 2022. Other accounting standards that have been issued by the FASB or other standard-setting bodies are not not

Note 2 - Revenue (Tables)

Note 2 - Revenue (Tables)	9 Months Ended
	Jun. 30, 2021
Notes Tables
Disaggregation of Revenue [Table Text Block]	Three Months Ended June 30, 2021 Three Months Ended June 30, 2020 Gas utility Non utility Total operating revenues Gas utility Non utility Total operating revenues Natural Gas (Billed and Unbilled): Residential $ 7,755,301 $ — $ 7,755,301 $ 6,682,586 $ — $ 6,682,586 Commercial 4,878,644 — 4,878,644 3,157,873 — 3,157,873 Industrial and Transportation 1,257,400 — 1,257,400 1,401,775 — 1,401,775 Other 113,342 32,165 145,507 56,723 215,465 272,188 Total contracts with customers 14,004,687 32,165 14,036,852 11,298,957 215,465 11,514,422 Alternative Revenue Programs 11,994 — 11,994 (442,504 ) — (442,504 ) Total operating revenues $ 14,016,681 $ 32,165 $ 14,048,846 $ 10,856,453 $ 215,465 $ 11,071,918 Nine Months Ended June 30, 2021 Nine Months Ended June 30, 2020 Gas utility Non utility Total operating revenues Gas utility Non utility Total operating revenues Natural Gas (Billed and Unbilled): Residential $ 36,404,047 $ — $ 36,404,047 $ 31,859,828 $ — $ 31,859,828 Commercial 20,133,275 — 20,133,275 15,260,652 — 15,260,652 Industrial and Transportation 3,733,544 — 3,733,544 3,972,444 — 3,972,444 Other 369,511 98,070 467,581 390,184 537,324 927,508 Total contracts with customers 60,640,377 98,070 60,738,447 51,483,108 537,324 52,020,432 Alternative Revenue Programs 1,081,078 — 1,081,078 1,274,670 — 1,274,670 Total operating revenues $ 61,721,455 $ 98,070 $ 61,819,525 $ 52,757,778 $ 537,324 $ 53,295,102
Contract with Customer, Contract Asset, Contract Liability, and Receivable [Table Text Block]	Current Assets Current Liabilities Trade accounts receivable (1) Unbilled revenue (1) Customer credit balances Customer deposits Balance at September 30, 2020 $ 2,343,492 $ 1,041,518 $ 1,587,061 $ 1,611,476 Balance at June 30, 2021 3,665,023 1,079,046 842,992 1,576,160 Increase (decrease) $ 1,321,531 $ 37,528 $ (744,069 ) $ (35,316 )

Note 3 - Income Taxes (Tables)

Note 3 - Income Taxes (Tables)	9 Months Ended
	Jun. 30, 2021
Notes Tables
Schedule of Effective Income Tax Rate Reconciliation [Table Text Block]	Three Months Ended June 30, Nine Months Ended June 30, 2021 2020 2021 2020 Income before income taxes $ 806,145 $ 1,607,590 $ 13,429,825 $ 14,323,921 Corporate federal tax rate 21.0 % 21.0 % 21.0 % 21.0 % Income tax expense computed at the federal statutory rate $ 169,290 $ 337,593 $ 2,820,263 $ 3,008,023 State income taxes, net of federal tax benefit 39,458 77,349 647,448 666,017 Net amortization of excess deferred taxes on regulated operations (14,081 ) (14,081 ) (138,413 ) (138,413 ) Other, net 638 151 (1,054 ) (105,536 ) Total income tax expense $ 195,305 $ 401,012 $ 3,328,244 $ 3,430,091 Effective tax rate 24.2 % 24.9 % 24.8 % 23.9 %

Note 5 - Other Investments (Tab

Note 5 - Other Investments (Tables)	9 Months Ended
	Jun. 30, 2021
Notes Tables
Investment [Table Text Block]	Balance Sheet location: June 30, 2021 September 30, 2020 Other Assets: MVP $ 62,141,694 $ 57,183,063 Southgate 400,161 359,742 Investment in unconsolidated affiliates $ 62,541,855 $ 57,542,805 Current Liabilities: MVP $ 1,850,876 $ 2,501,883 Southgate 2,505 10,554 Capital contributions payable $ 1,853,381 $ 2,512,437 Three Months Ended Nine Months Ended Income Statement location: June 30, 2021 June 30, 2020 June 30, 2021 June 30, 2020 Equity in earnings of unconsolidated affiliate $ 133,864 $ 1,205,574 $ 1,486,750 $ 3,488,253 June 30, 2021 September 30, 2020 Undistributed earnings, net of income taxes, of MVP in retained earnings $ 7,946,763 $ 6,842,702 Nine Months Ended June 30, 2021 June 30, 2020 Cash investment $ 4,171,356 $ 6,590,424 Change in accrued capital calls (659,056 ) (2,597,426 ) Equity in earnings of unconsolidated affiliate 1,486,750 3,488,253 Change in investment in unconsolidated affiliates $ 4,999,050 $ 7,481,251
Equity Method Investments [Table Text Block]	Income Statements Three Months Ended Nine Months Ended June 30, 2021 June 30, 2020 June 30, 2021 June 30, 2020 AFUDC $ 12,917,004 $ 120,874,005 $ 146,674,318 $ 348,654,366 Other income (expense), net (145,581 ) (18,925 ) (192,675 ) 680,682 Net income $ 12,771,423 $ 120,855,080 $ 146,481,643 $ 349,335,048 Balance Sheets June 30, 2021 September 30, 2020 Assets: Current assets $ 230,303,657 $ 513,713,429 Construction work in progress 6,098,744,245 5,536,248,668 Other assets 2,363,875 4,597,441 Total assets $ 6,331,411,777 $ 6,054,559,538 Liabilities and Equity: Current liabilities $ 242,401,943 $ 187,581,804 Noncurrent liabilities — 245,000 Capital 6,089,009,834 5,866,732,734 Total liabilities and equity $ 6,331,411,777 $ 6,054,559,538

Note 7 - Long-term Debt (Tables

Note 7 - Long-term Debt (Tables)	9 Months Ended
	Jun. 30, 2021
Notes Tables
Schedule of Long-term Debt Instruments [Table Text Block]	June 30, 2021 September 30, 2020 Principal Unamortized Debt Issuance Costs Principal Unamortized Debt Issuance Costs Roanoke Gas: Unsecured senior notes payable, at 4.26 $ 30,500,000 $ 127,917 $ 30,500,000 $ 135,157 Unsecured term note payable, at 30-day LIBOR plus 0.90 7,000,000 1,112 7,000,000 3,613 Unsecured term notes payable, at 3.58 8,000,000 30,100 8,000,000 33,712 Unsecured term notes payable, at 4.41 10,000,000 30,543 10,000,000 32,892 Unsecured term notes payable, at 3.60 10,000,000 29,943 10,000,000 32,585 Midstream: Unsecured term notes payable, at 30-day LIBOR plus 1.35 31,425,200 17,885 25,475,200 38,728 Unsecured term note payable, at 30-day LIBOR plus 1.15 14,000,000 12,038 14,000,000 13,844 Unsecured term note payable, at 30-day LIBOR plus 1.20 10,000,000 6,875 10,000,000 8,644 Total notes payable, current and non-current 120,925,200 256,413 114,975,200 299,175 Less: current maturities of long-term debt (7,000,000 ) — — — Total notes payable $ 113,925,200 $ 256,413 $ 114,975,200 $ 299,175 Line-of-credit, at 30-day LIBOR plus 1.00 9,482,600 - 9,143,606 - Total long-term debt $ 123,407,800 $ 256,413 $ 124,118,806 $ 299,175

Note 8 - Other Comprehensive _2

Note 8 - Other Comprehensive Income (Loss) (Tables)	9 Months Ended
	Jun. 30, 2021
Notes Tables
Comprehensive Income (Loss) [Table Text Block]	Tax Before-Tax (Expense) Net-of-Tax Amount or Benefit Amount Three Months Ended June 30, 2021 Interest rate swaps: Unrealized losses $ (166,066 ) $ 42,745 $ (123,321 ) Transfer of realized losses to interest expense 139,478 (35,901 ) 103,577 Net interest rate swaps (26,588 ) 6,844 (19,744 ) Defined benefit plans: Amortization of actuarial losses 20,017 (5,153 ) 14,864 Other comprehensive loss $ (6,571 ) $ 1,691 $ (4,880 ) Three Months Ended June 30, 2020 Interest rate swaps: Unrealized losses $ (278,752 ) $ 71,751 $ (207,001 ) Transfer of realized losses to interest expense 108,002 (27,801 ) 80,201 Net interest rate swaps (170,750 ) 43,950 (126,800 ) Defined benefit plans: Amortization of actuarial losses 22,610 (5,819 ) 16,791 Other comprehensive loss $ (148,140 ) $ 38,131 $ (110,009 ) Tax Before-Tax (Expense) Net-of-Tax Amount or Benefit Amount Nine Months Ended June 30, 2021 Interest rate swaps: Unrealized gains $ 453,060 $ (116,619 ) $ 336,441 Transfer of realized losses to interest expense 413,186 (106,352 ) 306,834 Net interest rate swaps 866,246 (222,971 ) 643,275 Defined benefit plans: Amortization of actuarial losses 60,051 (15,459 ) 44,592 Other comprehensive income $ 926,297 $ (238,430 ) $ 687,867 Nine Months Ended June 30, 2020 Interest rate swaps: Unrealized losses $ (1,583,021 ) $ 407,469 $ (1,175,552 ) Transfer of realized losses to interest expense 128,240 (33,009 ) 95,231 Net interest rate swaps (1,454,781 ) 374,460 (1,080,321 ) Defined benefit plans: Amortization of actuarial losses 67,830 (17,457 ) 50,373 Other comprehensive loss $ (1,386,951 ) $ 357,003 $ (1,029,948 )
Schedule of Accumulated Other Comprehensive Income (Loss) [Table Text Block]	Accumulated Other Interest Rate Defined Benefit Comprehensive Swaps Plans Income (Loss) Balance at September 30, 2020 $ (1,651,213 ) $ (1,796,731 ) $ (3,447,944 ) Other comprehensive income 643,275 44,592 687,867 Balance at June 30, 2021 $ (1,007,938 ) $ (1,752,139 ) $ (2,760,077 )

Note 10 - Earnings Per Share (T

Note 10 - Earnings Per Share (Tables)	9 Months Ended
	Jun. 30, 2021
Notes Tables
Schedule of Earnings Per Share, Basic and Diluted [Table Text Block]	Three Months Ended June 30, Nine Months Ended June 30, 2021 2020 2021 2020 Net income $ 610,840 $ 1,206,578 $ 10,101,581 $ 10,893,830 Weighted average common shares 8,260,579 8,143,887 8,215,215 8,115,836 Effect of dilutive securities: Options to purchase common stock 12,624 15,437 13,287 23,178 Diluted average common shares 8,273,203 8,159,324 8,228,502 8,139,014 Earnings per share of common stock: Basic $ 0.07 $ 0.15 $ 1.23 $ 1.34 Diluted $ 0.07 $ 0.15 $ 1.23 $ 1.34

Note 11 - Employee Benefit Pl_2

Note 11 - Employee Benefit Plans (Tables)	9 Months Ended
	Jun. 30, 2021
Notes Tables
Schedule of Net Benefit Costs [Table Text Block]	Three Months Ended Nine Months Ended June 30, June 30, 2021 2020 2021 2020 Components of net periodic pension cost: Service cost $ 183,570 $ 172,902 $ 550,710 $ 518,706 Interest cost 243,785 265,557 731,355 796,671 Expected return on plan assets (503,936 ) (459,156 ) (1,511,808 ) (1,377,468 ) Recognized loss 125,535 113,936 376,605 341,808 Net periodic pension cost $ 48,954 $ 93,239 $ 146,862 $ 279,717 Three Months Ended Nine Months Ended June 30, June 30, 2021 2020 2021 2020 Components of postretirement benefit cost: Service cost $ 35,172 $ 41,970 $ 105,516 $ 125,910 Interest cost 107,623 132,869 322,869 398,607 Expected return on plan assets (149,122 ) (137,599 ) (447,366 ) (412,797 ) Recognized loss 38,664 59,343 115,992 178,029 Net postretirement benefit cost $ 32,337 $ 96,583 $ 97,011 $ 289,749
Summary of Employer Contributions to Defined Benefit Plans [Table Text Block]	Fiscal Year-to-Date Contributions Remaining Fiscal Year Contributions Pension plan $ — $ 500,000 Postretirement plan — 400,000 Total $ — $ 900,000

Note 12 - Fair Value Measurem_2

Note 12 - Fair Value Measurements (Tables)	9 Months Ended
	Jun. 30, 2021
Notes Tables
Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis [Table Text Block]	Fair Value Measurements - June 30, 2021 Quoted Significant Prices Other Significant in Active Observable Unobservable Fair Markets Inputs Inputs Value (Level 1) (Level 2) (Level 3) Liabilities: Natural gas purchases $ 1,292,893 $ — $ 1,292,893 $ — Interest rate swaps 1,357,310 — 1,357,310 — Total $ 2,650,203 $ — $ 2,650,203 $ — Fair Value Measurements - September 30, 2020 Quoted Significant Prices Other Significant in Active Observable Unobservable Fair Markets Inputs Inputs Value (Level 1) (Level 2) (Level 3) Liabilities: Natural gas purchases $ 470,755 $ — $ 470,755 $ — Interest rate swaps 2,223,556 — 2,223,556 — Total $ 2,694,311 $ — $ 2,694,311 $ —
Fair Value, by Balance Sheet Grouping [Table Text Block]	Fair Value Measurements - June 30, 2021 Quoted Significant Prices Other Significant in Active Observable Unobservable Carrying Markets Inputs Inputs Value (Level 1) (Level 2) (Level 3) Liabilities: Current maturities of long-term debt $ 7,000,000 — — $ 7,000,000 Notes payable 113,925,200 $ — $ — 123,206,721 Total $ 120,925,200 $ — $ — $ 130,206,721 Fair Value Measurements - September 30, 2020 Quoted Significant Prices Other Significant in Active Observable Unobservable Carrying Markets Inputs Inputs Value (Level 1) (Level 2) (Level 3) Liabilities: Notes payable $ 114,975,200 $ — $ — $ 124,740,970 Total $ 114,975,200 $ — $ — $ 124,740,970

Note 13 - Segment Information (

Note 13 - Segment Information (Tables)	9 Months Ended
	Jun. 30, 2021
Notes Tables
Schedule of Segment Reporting Information, by Segment [Table Text Block]	Three Months Ended June 30, 2021 Gas Utility Investment in Affiliates Parent and Other Consolidated Total Operating revenues $ 14,016,681 $ — $ 32,165 $ 14,048,846 Depreciation 2,115,758 — — 2,115,758 Operating income (loss) 1,563,436 (47,390 ) 26,287 1,542,333 Equity in earnings — 133,864 — 133,864 Interest expense 693,265 306,973 — 1,000,238 Income (loss) before income taxes 998,342 (218,579 ) 26,382 806,145 Three Months Ended June 30, 2020 Gas Utility Investment in Affiliates Parent and Other Consolidated Total Operating revenues $ 10,856,453 $ — $ 215,465 $ 11,071,918 Depreciation 1,988,505 — — 1,988,505 Operating income (loss) 1,291,678 (55,097 ) 99,082 1,335,663 Equity in earnings — 1,205,574 — 1,205,574 Interest expense 667,702 318,501 — 986,203 Income before income taxes 674,351 834,054 99,185 1,607,590 Nine Months Ended June 30, 2021 Gas Utility Investment in Affiliates Parent and Other Consolidated Total Operating revenues $ 61,721,455 $ — $ 98,070 $ 61,819,525 Depreciation 6,397,460 — — 6,397,460 Operating income (loss) 14,352,010 (200,532 ) 71,668 14,223,146 Equity in earnings — 1,486,750 — 1,486,750 Interest expense 2,105,127 922,704 — 3,027,831 Income before income taxes 12,984,346 373,466 72,013 13,429,825 Nine Months Ended June 30, 2020 Gas Utility Investment in Affiliates Parent and Other Consolidated Total Operating revenues $ 52,757,778 $ — $ 537,324 $ 53,295,102 Depreciation 5,965,226 — — 5,965,226 Operating income (loss) 13,321,691 (163,214 ) 258,781 13,417,258 Equity in earnings — 3,488,253 — 3,488,253 Interest expense 2,048,552 1,061,129 — 3,109,681 Income before income taxes 11,795,644 2,269,106 259,171 14,323,921 June 30, 2021 Gas Utility Investment in Affiliates Parent and Other Consolidated Total Total assets $ 221,576,186 $ 63,353,786 $ 11,931,760 $ 296,861,732 September 30, 2020 Gas Utility Investment in Affiliates Parent and Other Consolidated Total Total assets $ 211,994,364 $ 57,660,105 $ 12,025,038 $ 281,679,507

Note 14 - Regulatory Assets a_2

Note 14 - Regulatory Assets and Liabilities (Tables)	9 Months Ended
	Jun. 30, 2021
Notes Tables
Schedule of Regulatory Assets [Table Text Block]	June 30, 2021 September 30, 2020 Assets: Current Assets: Regulatory assets: Under-recovery of gas costs $ 1,663,017 $ 1,733,718 Under-recovery of SAVE Plan revenues 123,603 108,550 Accrued pension and postretirement medical 144,182 576,731 Other deferred expenses 84,315 84,315 Total current 2,015,117 2,503,314 Utility Property: In service: Other 11,945 11,945 Construction work in progress: AFUDC 386,189 330,208 Other Assets: Regulatory assets: Premium on early retirement of debt 1,512,980 1,598,620 Accrued pension and postretirement medical 9,156,546 9,156,546 Other deferred expenses 324,849 214,928 Total non-current 10,994,375 10,970,094 Total regulatory assets $ 13,407,626 $ 13,815,561
Schedule of Regulatory Liabilities [Table Text Block]	June 30, 2021 September 30, 2020 Liabilities and Stockholders' Equity: Current Liabilities: Regulatory liabilities: WNA $ 64,275 $ 601,784 Excess deferred income taxes 205,353 205,353 Other deferred liabilities 3,279 83,176 Total current 272,907 890,313 Deferred Credits and Other Liabilities: Asset retirement obligations 7,505,590 7,180,982 Regulatory cost of retirement obligations 13,439,053 12,678,043 Regulatory Liabilities: Excess deferred income taxes 10,542,692 10,729,082 Total non-current 31,487,335 30,588,107 Total regulatory liabilities $ 31,760,242 $ 31,478,420

Note 2 - Revenue - Disaggregati

Note 2 - Revenue - Disaggregation of Revenue (Details) - USD ($)	3 Months Ended		9 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020
Total contracts with customers	$ 14,036,852	$ 11,514,422	$ 60,738,447	$ 52,020,432
Alternative Revenue Programs	11,994	(442,504)	1,081,078	1,274,670
Total operating revenues	14,048,846	11,071,918	61,819,525	53,295,102
Oil and Gas [Member] | Residential [Member]
Total contracts with customers	7,755,301	6,682,586	36,404,047	31,859,828
Oil and Gas [Member] | Commercial [Member]
Total contracts with customers	4,878,644	3,157,873	20,133,275	15,260,652
Oil and Gas [Member] | Industrial and Transportation [Member]
Total contracts with customers	1,257,400	1,401,775	3,733,544	3,972,444
Product and Service, Other [Member]
Total contracts with customers	145,507	272,188	467,581	927,508
Gas Utility [Member]
Total contracts with customers	14,004,687	11,298,957	60,640,377	51,483,108
Alternative Revenue Programs	11,994	(442,504)	1,081,078	1,274,670
Total operating revenues	14,016,681	10,856,453	61,721,455	52,757,778
Gas Utility [Member] | Oil and Gas [Member] | Residential [Member]
Total contracts with customers	7,755,301	6,682,586	36,404,047	31,859,828
Gas Utility [Member] | Oil and Gas [Member] | Commercial [Member]
Total contracts with customers	4,878,644	3,157,873	20,133,275	15,260,652
Gas Utility [Member] | Oil and Gas [Member] | Industrial and Transportation [Member]
Total contracts with customers	1,257,400	1,401,775	3,733,544	3,972,444
Gas Utility [Member] | Product and Service, Other [Member]
Total contracts with customers	113,342	56,723	369,511	390,184
Non-utility [Member]
Total contracts with customers	32,165	215,465	98,070	537,324
Alternative Revenue Programs	0	0	0	0
Total operating revenues	32,165	215,465	98,070	537,324
Non-utility [Member] | Oil and Gas [Member] | Residential [Member]
Total contracts with customers	0	0	0	0
Non-utility [Member] | Oil and Gas [Member] | Commercial [Member]
Total contracts with customers	0	0	0	0
Non-utility [Member] | Oil and Gas [Member] | Industrial and Transportation [Member]
Total contracts with customers	0	0	0	0
Non-utility [Member] | Product and Service, Other [Member]
Total contracts with customers	$ 32,165	$ 215,465	$ 98,070	$ 537,324

Note 2 - Revenue - Customer Acc

Note 2 - Revenue - Customer Accounts Receivable (Details) - USD ($)		9 Months Ended
		Jun. 30, 2021	Sep. 30, 2020
Trade accounts receivable		$ 4,791,296	$ 3,404,044
Unbilled revenue	[1]	1,079,046	1,041,518
Customer credit balances		842,992	1,587,061
Customer deposits		1,576,160	1,611,476
Increase (decrease) in Unbilled revenue	[1]	37,528
Increase (decrease) in Customer credit balances		(744,069)
Increase (decrease) in Customer deposits		(35,316)
Trade Accounts Receivable [Member]
Trade accounts receivable	[1]	3,665,023	$ 2,343,492
Increase (decrease) in Trade accounts receivable	[1]	$ 1,321,531
[1]	Included in accounts receivable in the condensed consolidated balance sheet. Amounts shown net of reserve for bad debts.

Note 3 - Income Taxes - Reconci

Note 3 - Income Taxes - Reconciliation of Income Tax Expense (Details) - USD ($)	3 Months Ended		6 Months Ended		9 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020
Income before income taxes	$ 806,145	$ 1,607,590	$ 806,145	$ 1,607,590	$ 13,429,825	$ 14,323,921
Corporate federal tax rate			21.00%	21.00%	21.00%	21.00%
Income tax expense computed at the federal statutory rate			$ 169,290	$ 337,593	$ 2,820,263	$ 3,008,023
State income taxes, net of federal tax benefit			39,458	77,349	647,448	666,017
Net amortization of excess deferred taxes on regulated operations			(14,081)	(14,081)	(138,413)	(138,413)
Other, net			638	151	(1,054)	(105,536)
INCOME TAX EXPENSE	$ 195,305	$ 401,012	$ 195,305	$ 401,012	$ 3,328,244	$ 3,430,091
Effective tax rate			24.20%	24.90%	24.80%	23.90%

Note 4 - Rates and Regulatory_2

Note 4 - Rates and Regulatory Matters (Details Textual) - USD ($)	1 Months Ended
	May 31, 2021	Dec. 31, 2020
CARES Act, Funds Received		$ 400,000
Virginia State Corporate Commission (SCC) [Member] | Roanoke Gas Company [Member] | Updated SAVE Rider Application [Member]
Request of Recovery of Costs from Regulatory Agency, Annual Revenues	$ 3,450,000
Public Utilities, Requested Rate Increase (Decrease), Amount	$ 1,100,000

Note 5 - Other Investments (Det

Note 5 - Other Investments (Details Textual)	6 Months Ended	9 Months Ended
	Mar. 31, 2021USD ($)	Jun. 30, 2021USD ($)	Jun. 30, 2020USD ($)
Public Utilities, Allowance for Funds Used During Construction, Additions		$ 55,981	$ 272,108
RGC Midstream LLC [Member]
Debt Instrument, Number of Instruments		2
RGC Midstream LLC [Member] | MVP [Member]
Equity Method Investment, Ownership Percentage		1.00%
Estimated Total Mountain Valley Pipeline Cost Projection		$ 6,200,000,000
Estimated Investment in Mountain Valley Pipeline		$ 65,000,000
Roanoke Gas Company [Member]
Public Utilities, Allowance for Funds Used During Construction, Additions	$ 55,981

Note 5 - Other Investments - Sc

Note 5 - Other Investments - Schedule of Other Investments (Details) - USD ($)	3 Months Ended		9 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020	Sep. 30, 2020
Investment in unconsolidated affiliates	$ 62,541,855		$ 62,541,855		$ 57,542,805
Capital contributions payable	1,853,381		1,853,381		2,512,437
Equity in earnings of unconsolidated affiliate	133,864	$ 1,205,574	1,486,750	$ 3,488,253
Undistributed earnings, net of income taxes, of MVP in retained earnings	7,946,763		7,946,763		6,842,702
Cash investment			4,171,356	6,590,424
Change in accrued capital calls			(659,056)	(2,597,426)
Change in investment in unconsolidated affiliates			4,999,050	$ 7,481,251
MVP [Member]
Investment in unconsolidated affiliates	62,141,694		62,141,694		57,183,063
Capital contributions payable	1,850,876		1,850,876		2,501,883
Southgate [Member]
Investment in unconsolidated affiliates	400,161		400,161		359,742
Capital contributions payable	$ 2,505		$ 2,505		$ 10,554

Note 5 - Other Investments - In

Note 5 - Other Investments - Investment in Unconsolidated Entity (Details) - USD ($)	3 Months Ended						9 Months Ended
	Jun. 30, 2021	Mar. 31, 2021	Dec. 31, 2020	Jun. 30, 2020	Mar. 31, 2020	Dec. 31, 2019	Jun. 30, 2021	Jun. 30, 2020	Sep. 30, 2020	Sep. 30, 2019
Other income, net	$ 130,186			$ 52,556			$ 747,760	$ 528,091
Net income	610,840	$ 4,767,478	$ 4,723,263	1,206,578	$ 5,680,316	$ 4,006,936	10,101,581	10,893,830
Current assets	14,862,881						14,862,881		$ 14,436,561
Total assets	296,861,732						296,861,732		281,679,507
Current liabilities	21,605,817						21,605,817		16,570,742
Capital	98,838,738	$ 97,574,608	$ 92,549,541	90,251,152	$ 90,317,347	$ 86,359,135	98,838,738	90,251,152	88,887,977	$ 83,096,392
Total liabilities and equity	296,861,732						296,861,732		281,679,507
MVP [Member] | Equity Method Investment, Nonconsolidated Investee or Group of Investees [Member]
AFUDC	12,917,004			120,874,005			146,674,318	348,654,366
Other income, net	(145,581)			(18,925)			(192,675)	680,682
Net income	12,771,423			$ 120,855,080			146,481,643	$ 349,335,048
Current assets	230,303,657						230,303,657		513,713,429
Construction work in progress	6,098,744,245						6,098,744,245		5,536,248,668
Other assets	2,363,875						2,363,875		4,597,441
Total assets	6,331,411,777						6,331,411,777		6,054,559,538
Current liabilities	242,401,943						242,401,943		187,581,804
Noncurrent liabilities	0						0		245,000
Capital	6,089,009,834						6,089,009,834		5,866,732,734
Total liabilities and equity	$ 6,331,411,777						$ 6,331,411,777		$ 6,054,559,538

Note 6 - Derivatives and Hedg_2

Note 6 - Derivatives and Hedging (Details Textual)	Jun. 30, 2021USD ($)	Jun. 13, 2019USD ($)	Jun. 12, 2019USD ($)
Number of Interest Rate Derivatives Held	3
Roanoke Gas Company [Member] | Unsecured Term Notes [Member] | Unsecured Term Notes Payable, at 30-day LIBOR Plus 0.90%, Due November 1, 2021 [Member]
Debt Instrument, Face Amount	$ 7,000,000
Derivative, Fixed Interest Rate	2.30%
RGC Midstream LLC [Member]
Number of Interest Rate Derivatives Held	2
Debt Instrument, Number of Instruments	2
RGC Midstream LLC [Member] | Unsecured Term Notes [Member] | Unsecured Term Notes Payable, at 30-day LIBOR Plus 1.15% Due June 12, 2026 [Member]
Debt Instrument, Face Amount			$ 14,000,000
Derivative, Fixed Interest Rate			3.24%
RGC Midstream LLC [Member] | Unsecured Term Notes [Member] | Unsecured Term Notes Payable, at 30-day LIBOR Plus 1.20%, Due June 1, 2024 [Member]
Debt Instrument, Face Amount		$ 10,000,000
Derivative, Fixed Interest Rate		3.14%

Note 7 - Long-term Debt (Detail

Note 7 - Long-term Debt (Details Textual) - USD ($)	Mar. 25, 2021	Jun. 30, 2021
Debt Instrument, Debt Covenant Ratio of Long-term Debt to Total Capitalization, Maximum		65.00%
Debt Instrument, Debt Covenant, Ratio of Priority Debt to Total Assets, Maximum		15.00%
Roanoke Gas Company [Member] | Line of Credit [Member]
Debt Instrument, Term (Year)	2 years
Line of Credit Facility, Maximum Borrowing Capacity	$ 40,000,000
Debt Instrument, Basis Spread on Variable Rate	1.00%
Line of Credit Facility, Unused Capacity, Commitment Fee Percentage	0.15%
Roanoke Gas Company [Member] | Line of Credit [Member] | Minimum [Member]
Line of Credit Facility, Maximum Borrowing Capacity	$ 14,000,000
Roanoke Gas Company [Member] | Line of Credit [Member] | Maximum [Member]
Line of Credit Facility, Maximum Borrowing Capacity	$ 40,000,000

Note 7 - Long-term Debt - Long-

Note 7 - Long-term Debt - Long-term Debt (Details) - USD ($)	Jun. 30, 2021	Sep. 30, 2020
Unamortized Debt Issuance Costs	$ 256,413	$ 299,175
Total notes payable	113,925,200	114,975,200
Total long-term debt	123,407,800	124,118,806
Notes Payable [Member]
Notes payable	120,925,200	114,975,200
Unamortized Debt Issuance Costs	256,413	299,175
Less: current maturities of long-term debt	(7,000,000)	0
Total notes payable	113,925,200	114,975,200
Roanoke Gas Company [Member] | Unsecured Senior Notes Payable [Member] | Unsecured Senior Notes Payable, at 4.26%, Due on September 18, 2034 [Member]
Notes payable	30,500,000	30,500,000
Unamortized Debt Issuance Costs	127,917	135,157
Roanoke Gas Company [Member] | Unsecured Term Notes [Member] | Unsecured Term Note Payable, at 30-day LIBOR Plus 0.90%, Due November 1, 2021 [Member]
Notes payable	7,000,000	7,000,000
Unamortized Debt Issuance Costs	1,112	3,613
Roanoke Gas Company [Member] | Unsecured Term Notes [Member] | Unsecured Term Notes Payable, at 3.58%, Due on October 2, 2027 [Member]
Notes payable	8,000,000	8,000,000
Unamortized Debt Issuance Costs	30,100	33,712
Roanoke Gas Company [Member] | Unsecured Term Notes [Member] | Unsecured Term Notes Payable, at 4.41 %, Due on March 28, 2031 [Member]
Notes payable	10,000,000	10,000,000
Unamortized Debt Issuance Costs	30,543	32,892
Roanoke Gas Company [Member] | Unsecured Term Notes [Member] | Unsecured Term Notes Payable, at 3.60%, Due on December 6, 2029 [Member]
Notes payable	10,000,000	10,000,000
Unamortized Debt Issuance Costs	29,943	32,585
Roanoke Gas Company [Member] | Line of Credit [Member] | Line of Credit, at 30-day LIBOR Plus 1.00%, Due March 31, 2023 [Member]
Line-of-credit	9,482,600	9,143,606
RGC Midstream LLC [Member] | Unsecured Term Notes [Member] | Unsecured Term Notes Payable, at 30-day LIBOR Plus 1.35%, Due December 29,2022 [Member]
Notes payable	31,425,200	25,475,200
Unamortized Debt Issuance Costs	17,885	38,728
RGC Midstream LLC [Member] | Unsecured Term Notes [Member] | Unsecured Term Note Payable, at 30-day LIBOR Plus 1.15%, Due June 12, 2026 [Member]
Notes payable	14,000,000	14,000,000
Unamortized Debt Issuance Costs	12,038	13,844
RGC Midstream LLC [Member] | Unsecured Term Notes [Member] | Unsecured Term Note Payable, at 30-day LIBOR Plus 1.20%, Due June 1, 2024 [Member]
Notes payable	10,000,000	10,000,000
Unamortized Debt Issuance Costs	$ 6,875	$ 8,644

Note 7 - Long-term Debt - Lon_2

Note 7 - Long-term Debt - Long-term Debt (Details) (Parentheticals)	Mar. 25, 2021	Sep. 30, 2020	Jun. 30, 2021
Roanoke Gas Company [Member] | Unsecured Senior Notes Payable [Member] | Unsecured Senior Notes Payable, at 4.26%, Due on September 18, 2034 [Member]
Stated rate		4.26%	4.26%
Roanoke Gas Company [Member] | Unsecured Term Notes [Member] | Unsecured Term Note Payable, at 30-day LIBOR Plus 0.90%, Due November 1, 2021 [Member] | London Interbank Offered Rate (LIBOR) [Member]
Debt Instrument, Basis Spread on Variable Rate		0.90%	0.90%
Roanoke Gas Company [Member] | Unsecured Term Notes [Member] | Unsecured Term Notes Payable, at 3.58%, Due on October 2, 2027 [Member]
Stated rate		3.58%	3.58%
Roanoke Gas Company [Member] | Unsecured Term Notes [Member] | Unsecured Term Notes Payable, at 4.41 %, Due on March 28, 2031 [Member]
Stated rate		4.41%	4.41%
Roanoke Gas Company [Member] | Unsecured Term Notes [Member] | Unsecured Term Notes Payable, at 3.60%, Due on December 6, 2029 [Member]
Stated rate		3.60%	3.60%
Roanoke Gas Company [Member] | Line of Credit [Member]
Debt Instrument, Basis Spread on Variable Rate	1.00%
Roanoke Gas Company [Member] | Line of Credit [Member] | Line of Credit, at 30-day LIBOR Plus 1.00%, Due March 31, 2023 [Member] | London Interbank Offered Rate (LIBOR) [Member]
Debt Instrument, Basis Spread on Variable Rate		1.00%	1.00%
RGC Midstream LLC [Member] | Unsecured Term Notes [Member] | Unsecured Term Notes Payable, at 30-day LIBOR Plus 1.35%, Due December 29,2022 [Member] | London Interbank Offered Rate (LIBOR) [Member]
Debt Instrument, Basis Spread on Variable Rate		1.35%	1.35%
RGC Midstream LLC [Member] | Unsecured Term Notes [Member] | Unsecured Term Note Payable, at 30-day LIBOR Plus 1.15%, Due June 12, 2026 [Member] | London Interbank Offered Rate (LIBOR) [Member]
Debt Instrument, Basis Spread on Variable Rate		1.15%	1.15%
RGC Midstream LLC [Member] | Unsecured Term Notes [Member] | Unsecured Term Note Payable, at 30-day LIBOR Plus 1.20%, Due June 1, 2024 [Member] | London Interbank Offered Rate (LIBOR) [Member]
Debt Instrument, Basis Spread on Variable Rate		1.20%	1.20%

Note 8 - Other Comprehensive _3

Note 8 - Other Comprehensive Income (Loss) - Schedule of Other Comprehensive Income and Loss (Details) - USD ($)	3 Months Ended						9 Months Ended
	Jun. 30, 2021	Mar. 31, 2021	Dec. 31, 2020	Jun. 30, 2020	Mar. 31, 2020	Dec. 31, 2019	Jun. 30, 2021	Jun. 30, 2020
Other comprehensive income (loss)	$ (6,571)			$ (148,140)			$ 926,297	$ (1,386,951)
Other comprehensive income (loss), tax	1,691			(38,131)			(238,430)	357,003
Other comprehensive income (loss), net of tax	(4,880)	$ 509,158	$ 183,589	(110,009)	$ (1,199,783)	$ 279,844	687,867	(1,029,948)
Other comprehensive income (loss), tax	(1,691)			38,131			238,430	(357,003)
Accumulated Gain (Loss), Net, Cash Flow Hedge, Parent [Member]
Other comprehensive income (loss) before reclassifications	(166,066)			(278,752)			453,060	(1,583,021)
Other comprehensive income (loss) before reclassifications, tax	42,745			71,751			(116,619)	407,469
Other comprehensive income (loss) before reclassifications, net of tax	(123,321)			(207,001)			336,441	(1,175,552)
Reclassifications from accumulated other comprehensive income	139,478			108,002			413,186	128,240
Reclassifications from accumulated other comprehensive income (loss), tax	(35,901)			(27,801)			(106,352)	(33,009)
Reclassifications from accumulated other comprehensive income (loss), net of tax	103,577			80,201			306,834	95,231
Other comprehensive income (loss)	(26,588)			(170,750)			866,246	(1,454,781)
Other comprehensive income (loss), tax	6,844			43,950			(222,971)	374,460
Other comprehensive income (loss), net of tax	(19,744)			(126,800)			643,275	(1,080,321)
Other comprehensive income (loss), tax	(6,844)			(43,950)			222,971	(374,460)
Accumulated Defined Benefit Plans Adjustment, Net Gain (Loss) Attributable to Parent [Member]
Other comprehensive income (loss)	20,017			22,610			60,051	67,830
Other comprehensive income (loss), tax	(5,153)			(5,819)			(15,459)	(17,457)
Other comprehensive income (loss), net of tax	14,864			16,791			44,592	50,373
Other comprehensive income (loss), tax	$ 5,153			$ 5,819			$ 15,459	$ 17,457

Note 8 - Other Comprehensive _4

Note 8 - Other Comprehensive Income (Loss) - Reconciliation of Accumulated Comprehensive Income (Loss) (Details) - USD ($)	3 Months Ended						9 Months Ended
	Jun. 30, 2021	Mar. 31, 2021	Dec. 31, 2020	Jun. 30, 2020	Mar. 31, 2020	Dec. 31, 2019	Jun. 30, 2021	Jun. 30, 2020
Balance	$ 97,574,608	$ 92,549,541	$ 88,887,977	$ 90,317,347	$ 86,359,135	$ 83,096,392	$ 88,887,977	$ 83,096,392
Other comprehensive income (loss)	(4,880)	509,158	183,589	(110,009)	(1,199,783)	279,844	687,867	(1,029,948)
Balance	98,838,738	97,574,608	92,549,541	90,251,152	90,317,347	86,359,135	98,838,738	90,251,152
Accumulated Gain (Loss), Net, Cash Flow Hedge, Parent [Member]
Balance			(1,651,213)				(1,651,213)
Other comprehensive income (loss)	(19,744)			(126,800)			643,275	(1,080,321)
Balance	(1,007,938)						(1,007,938)
Accumulated Defined Benefit Plans Adjustment, Net Gain (Loss) Attributable to Parent [Member]
Balance			(1,796,731)				(1,796,731)
Other comprehensive income (loss)	14,864			16,791			44,592	50,373
Balance	(1,752,139)						(1,752,139)
AOCI Attributable to Parent [Member]
Balance	(2,755,197)	(3,264,355)	(3,447,944)	(3,408,856)	(2,209,073)	(2,488,917)	(3,447,944)	(2,488,917)
Other comprehensive income (loss)	(4,880)	509,158	183,589	(110,009)	(1,199,783)	279,844	687,867
Balance	$ (2,760,077)	$ (2,755,197)	$ (3,264,355)	$ (3,518,865)	$ (3,408,856)	$ (2,209,073)	$ (2,760,077)	$ (3,518,865)

Note 10 - Earnings Per Share -

Note 10 - Earnings Per Share - Earnings Per Share (Details) - USD ($)	3 Months Ended						9 Months Ended
	Jun. 30, 2021	Mar. 31, 2021	Dec. 31, 2020	Jun. 30, 2020	Mar. 31, 2020	Dec. 31, 2019	Jun. 30, 2021	Jun. 30, 2020
Net income	$ 610,840	$ 4,767,478	$ 4,723,263	$ 1,206,578	$ 5,680,316	$ 4,006,936	$ 10,101,581	$ 10,893,830
Weighted average common shares (in shares)	8,260,579			8,143,887			8,215,215	8,115,836
Options to purchase common stock (in shares)	12,624			15,437			13,287	23,178
Diluted average common shares (in shares)	8,273,203			8,159,324			8,228,502	8,139,014
Basic (in dollars per share)	$ 0.07			$ 0.15			$ 1.23	$ 1.34
Diluted (in dollars per share)	$ 0.07			$ 0.15			$ 1.23	$ 1.34

Note 11 - Employee Benefit Pl_3

Note 11 - Employee Benefit Plans - Schedule of Components of Net Periodic Pension and Postretirement Benefit Cost (Details) - USD ($)	3 Months Ended		9 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020
Pension Plan [Member]
Service cost	$ 183,570	$ 172,902	$ 550,710	$ 518,706
Interest cost	243,785	265,557	731,355	796,671
Expected return on plan assets	(503,936)	(459,156)	(1,511,808)	(1,377,468)
Recognized loss	125,535	113,936	376,605	341,808
Net periodic/postretirement pension/benefit cost	48,954	93,239	146,862	279,717
Other Postretirement Benefits Plan [Member]
Service cost	35,172	41,970	105,516	125,910
Interest cost	107,623	132,869	322,869	398,607
Expected return on plan assets	(149,122)	(137,599)	(447,366)	(412,797)
Recognized loss	38,664	59,343	115,992	178,029
Net periodic/postretirement pension/benefit cost	$ 32,337	$ 96,583	$ 97,011	$ 289,749

Note 11 - Employee Benefit Pl_4

Note 11 - Employee Benefit Plans - Schedule of Actual and Expected Employer Contributions (Details)	9 Months Ended
	Jun. 30, 2021USD ($)
Fiscal Year-to-Date Contributions	$ 0
Remaining Fiscal Year Contributions	900,000
Pension Plan [Member]
Fiscal Year-to-Date Contributions	0
Remaining Fiscal Year Contributions	500,000
Other Postretirement Benefits Plan [Member]
Fiscal Year-to-Date Contributions	0
Remaining Fiscal Year Contributions	$ 400,000

Note 12 - Fair Value Measurem_3

Note 12 - Fair Value Measurements - Schedule of Fair Value of Financial Assets and Liabilities Measured on a Recurring Basis (Details) - Fair Value, Recurring [Member] - USD ($)	Jun. 30, 2021	Sep. 30, 2020
Natural gas purchases	$ 1,292,893	$ 470,755
Total	2,650,203	2,694,311
Interest Rate Swap [Member]
Interest rate swaps	1,357,310	2,223,556
Fair Value, Inputs, Level 1 [Member]
Natural gas purchases	0	0
Total	0	0
Fair Value, Inputs, Level 1 [Member] | Interest Rate Swap [Member]
Interest rate swaps	0	0
Fair Value, Inputs, Level 2 [Member]
Natural gas purchases	1,292,893	470,755
Total	2,650,203	2,694,311
Fair Value, Inputs, Level 2 [Member] | Interest Rate Swap [Member]
Interest rate swaps	1,357,310	2,223,556
Fair Value, Inputs, Level 3 [Member]
Natural gas purchases	0	0
Total	0	0
Fair Value, Inputs, Level 3 [Member] | Interest Rate Swap [Member]
Interest rate swaps	$ 0	$ 0

Note 12 - Fair Value Measurem_4

Note 12 - Fair Value Measurements - Summary of the Fair Value of Financial Assets and Liabilities Not Adjusted to Fair Value (Details) - USD ($)	Jun. 30, 2021	Sep. 30, 2020
Current maturities of long-term debt	$ 7,000,000	$ 0
Reported Value Measurement [Member]
Current maturities of long-term debt	7,000,000
Notes payable	113,925,200	114,975,200
Total	120,925,200	114,975,200
Estimate of Fair Value Measurement [Member] | Fair Value, Inputs, Level 1 [Member]
Current maturities of long-term debt	0
Notes payable	0	0
Total	0	0
Estimate of Fair Value Measurement [Member] | Fair Value, Inputs, Level 2 [Member]
Current maturities of long-term debt	0
Notes payable	0	0
Total	0	0
Estimate of Fair Value Measurement [Member] | Fair Value, Inputs, Level 3 [Member]
Current maturities of long-term debt	7,000,000
Notes payable	123,206,721	124,740,970
Total	$ 130,206,721	$ 124,740,970

Note 13 - Segment Information -

Note 13 - Segment Information - Segment Information (Details) - USD ($)	3 Months Ended		6 Months Ended		9 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020	Sep. 30, 2020
Operating revenues	$ 14,048,846	$ 11,071,918			$ 61,819,525	$ 53,295,102
Depreciation	2,115,758	1,988,505			6,397,460	5,965,226
Operating income (loss)	1,542,333	1,335,663			14,223,146	13,417,258
Equity in earnings	133,864	1,205,574			1,486,750	3,488,253
Interest expense	1,000,238	986,203			3,027,831	3,109,681
Income (loss) before income taxes	806,145	1,607,590	$ 806,145	$ 1,607,590	13,429,825	14,323,921
Total assets	296,861,732		296,861,732		296,861,732		$ 281,679,507
Operating Segments [Member] | Gas Utility [Member]
Operating revenues	14,016,681	10,856,453			61,721,455	52,757,778
Depreciation	2,115,758	1,988,505			6,397,460	5,965,226
Operating income (loss)	1,563,436	1,291,678			14,352,010	13,321,691
Equity in earnings	0	0			0	0
Interest expense	693,265	667,702			2,105,127	2,048,552
Income (loss) before income taxes	998,342	674,351			12,984,346	11,795,644
Total assets	221,576,186		221,576,186		221,576,186		211,994,364
Operating Segments [Member] | Investment in Affiliates [Member]
Operating revenues	0	0			0	0
Depreciation	0	0			0	0
Operating income (loss)	(47,390)	(55,097)			(200,532)	(163,214)
Equity in earnings	133,864	1,205,574			1,486,750	3,488,253
Interest expense	306,973	318,501			922,704	1,061,129
Income (loss) before income taxes	(218,579)	834,054			373,466	2,269,106
Total assets	63,353,786		63,353,786		63,353,786		57,660,105
Corporate, Non-Segment [Member]
Operating revenues	32,165	215,465			98,070	537,324
Depreciation	0	0			0	0
Operating income (loss)	26,287	99,082			71,668	258,781
Equity in earnings	0	0			0	0
Interest expense	0	0			0	0
Income (loss) before income taxes	26,382	$ 99,185			72,013	$ 259,171
Total assets	$ 11,931,760		$ 11,931,760		$ 11,931,760		$ 12,025,038

Note 14 - Regulatory Assets a_3

Note 14 - Regulatory Assets and Liabilities (Details Textual) - USD ($)	Jun. 30, 2021	Sep. 30, 2020
Remaining Amounts of Regulatory Assets for which No Return on Investment During Recovery Period is Provided	$ 13,395,681	$ 13,803,616

Note 14 - Regulatory Assets a_4

Note 14 - Regulatory Assets and Liabilities - Schedule of Regulatory Assets (Details) - USD ($)	Jun. 30, 2021	Sep. 30, 2020
Regulatory assets	$ 2,015,117	$ 2,503,314
Utility property in service, other	11,945	11,945
Construction work in progress - AFUDC	386,189	330,208
Noncurrent regulatory assets	10,994,375	10,970,094
Total regulatory assets	13,407,626	13,815,561
Regulatory Clause Revenues, under-recovered [Member]
Regulatory assets	1,663,017	1,733,718
Under-recovery of SAVE Plan Revenues [Member]
Regulatory assets	123,603	108,550
Pension Costs [Member]
Regulatory assets	144,182	576,731
Noncurrent regulatory assets	9,156,546	9,156,546
Other Assets [Member]
Regulatory assets	84,315	84,315
Noncurrent regulatory assets	324,849	214,928
Deferred Gain (Loss) on Early Extinguishment of Debt [Member]
Noncurrent regulatory assets	$ 1,512,980	$ 1,598,620

Note 14 - Regulatory Assets a_5

Note 14 - Regulatory Assets and Liabilities - Schedule of Regulatory Liabilities (Details) - USD ($)	Jun. 30, 2021	Sep. 30, 2020
Regulatory liabilities	$ 272,907	$ 890,313
Asset retirement obligations	7,505,590	7,180,982
Regulatory cost of retirement obligations	13,439,053	12,678,043
Excess deferred income taxes	10,542,692	10,729,082
Total non-current	31,487,335	30,588,107
Total regulatory liabilities	31,760,242	31,478,420
WNA [Member]
Regulatory liabilities	64,275	601,784
Tax Cuts and Jobs Act of 2017 Estimated Accounting Change in Tax Rate Regulatory Liability [Member]
Regulatory liabilities	205,353	205,353
Other Liabilities [Member]
Regulatory liabilities	$ 3,279	$ 83,176