Corning Natural Gas Holding (CNIG) 10-K 29 Dec 16 2016 FY Annual report Financial data

Document and Entity Information

Document and Entity Information - USD ($)	12 Months Ended
	Sep. 30, 2016	Dec. 15, 2016	Mar. 31, 2016
Document And Entity Information [Abstract]
Entity Registrant Name	Corning Natural Gas Holding Corp
Entity Central Index Key	1,582,244
Document Type	10-K
Document Period End Date	Sep. 30, 2016
Amendment Flag	false
Current Fiscal Year End Date	--09-30
Is Entity a Well-known Seasoned Issuer?	No
Is Entity a Voluntary Filer?	No
Is Entity's Reporting Status Current?	Yes
Entity Filer Category	Smaller Reporting Company
Entity Public Float			$ 27,743,924
Entity Common Stock, Shares Outstanding		2,484,211
Document Fiscal Period Focus	FY
Document Fiscal Year Focus	2,016
Trading Symbol	CNIG

Consolidated Balance Sheets

Consolidated Balance Sheets - USD ($)	Sep. 30, 2016	Sep. 30, 2015
Plant:
Utility property, plant and equipment	$ 100,550,221	$ 74,297,174
Less: accumulated depreciation	(22,718,488)	(20,984,031)
Total plant utility and non-utility, net	77,831,733	53,313,143
Investments:
Marketable securities available-for-sale at fair value	2,220,098	2,153,785
Investment in joint ventures	2,583,581	2,293,252
Total investments	4,803,679	4,447,037
Current assets:
Cash and cash equivalents	3,808,968	75,289
Customer accounts receivable, (net of allowance for uncollectible accounts of $30,417 and $44,377, respectively)	2,957,689	1,585,845
Acquisition receivable	724,554
Unbilled revenues	976,250
Related party receivables	172,476	525,920
Gas stored underground, at average cost	903,007	1,182,955
Materials and supplies inventory	1,409,207	1,295,304
Prepaid expenses	1,580,598	1,203,355
Total current assets	12,532,749	5,868,668
Regulatory assets:
Unrecovered gas costs	718,705	37,191
Deferred regulatory costs	3,596,302	2,751,339
Deferred pension	6,297,895	4,517,673
Unamortized debt issuance cost (net of accumulated amortization of $759,459 and $675,326), respectively	412,316	287,858
Other	811,095	192,869
Total deferred debits and other assets	11,836,313	7,786,930
Total assets	107,004,474	71,415,778
Liabilities and capitalization:
Long-term debt, less current installments	31,295,781	12,554,397
Current liabilities:
Current portion of long-term debt	5,558,156	2,923,133
Borrowings under lines-of-credit and short-term debt	8,181,499	9,003,599
Accounts payable	3,321,522	1,721,720
Accrued expenses	651,744	418,221
Customer deposits and accrued interest	1,654,684	1,357,452
Dividends declared	434,383	354,924
Current income taxes	10,000	78,000
Total current liabilities	19,811,988	15,857,049
Deferred credits and other liabilities:
Deferred income taxes	5,639,619	3,515,714
Deferred compensation	1,453,782	1,492,488
Pension costs and post-retirement benefits	8,513,971	6,857,399
Redeemable preferred stock - Series A (Authorized 140,000 shares, issued and outstanding 105,503 shares at September 30, 2016)	2,632,575
Other	946,282	1,410,299
Total deferred credits and other liabilities	19,186,229	13,275,900
Commitments and contingencies (see Note 16)
Temporary equity:
Redeemable preferred stock - Series B (Authorized 360,000 shares, issued and outstanding 244,263 shares at September 30, 2016)	4,920,314
Stockholders' equity:
Common stock ($.01 par value per share. Authorized 3,500,000 shares; issued and 2,479,284 shares at September 30, 2016 and 2,449,647 at September 30, 2015)	24,793	24,496
Other paid-in capital	26,768,429	26,362,369
Retained earnings	4,901,774	3,312,638
Accumulated other comprehensive loss	95,166	28,929
Total common stockholders' equity	31,790,162	29,728,432
Total liabilities and capitalization	$ 107,004,474	$ 71,415,778

Consolidated Balance Sheets (Pa

Consolidated Balance Sheets (Parenthetical) - USD ($)	Sep. 30, 2016	Sep. 30, 2015
Current assets:
Allowance for uncollectible accounts	$ 30,417	$ 44,377
Net Regulatory Assets [Abstract]
Accumulated amortization of debt issuance cost	$ 759,459	$ 675,326
Stockholders' equity
Redeemable preferred stock - Series A, authorized shares	140,000
Redeemable preferred stock - Series A, shares issued	105,503
Redeemable preferred stock - Series A, shares outstanding	105,503
Redeemable preferred stock - Series B, authorized shares	360,000
Redeemable preferred stock - Series B, shares issued	244,263
Redeemable preferred stock - Series B, shares outstanding	244,263
Common stock, par value	$ 0.01	$ 0.01
Common stock, authorized shares	3,500,000	3,500,000
Common stock, shares issued	2,479,284	2,449,647
Common stock, shares outstanding	2,479,284	2,449,647

Consolidated Statements of Inco

Consolidated Statements of Income - USD ($)	12 Months Ended
	Sep. 30, 2016		Sep. 30, 2015
Utility operating revenues
Gas operating revenues	$ 19,088,609		$ 22,503,411
Electric operating revenues	620,637
Total utility operating revenues	19,709,246		22,503,411
Cost of Sales
Natural gas purchased	3,892,687		7,107,533
Electricity purchased	260,017
Total cost of sales	4,152,704		7,107,533
Gross margin	15,556,542		15,395,878
Cost and expense
Operating and maintenance expense	7,637,109		7,806,524
Taxes other than income taxes	1,959,854		1,981,439
Depreciation	1,757,604		1,620,700
Other deductions, net	442,544		284,331
Total costs and expenses	11,797,111		11,692,994
Utility operating income	3,759,431		3,702,884
Other income and (expense)
Interest expense	(903,307)		(917,818)
Other expense	(44,398)		(57,944)
Other income	62,646		59,992
Investment income	102,524		133,551
Bargain purchase	1,232,082	[1]
(Loss) from joint ventures	(59,670)		(117,505)
Rental income	48,552		48,552
Net income, before income taxes	4,197,860		2,851,712
Income taxes
Income tax (expense), current	(10,000)		(78,000)
Income tax (expense), deferred	(1,066,466)		(991,631)
Total income taxes	(1,076,466)		(1,069,631)
Net income	3,121,394		1,782,081
Less Preferred B Dividends	62,776
Net income attributable to common shareholders	$ 3,058,618		$ 1,782,081
Weighted average earnings per share-
basic:	$ 1.24		$ 0.73
diluted:	$ 1.22		$ 0.73
Average shares outstanding - basic	2,470,171		2,440,932
Average shares outstanding - diluted	2,551,592		2,444,934
[1]	This is a one-time transaction resulting from the acquisition of Pike.

Consolidated Statements of Comp

Consolidated Statements of Comprehensive Income - USD ($)	12 Months Ended
	Sep. 30, 2016	Sep. 30, 2015
Statement of Comprehensive Income [Abstract]
Net Income	$ 3,121,394	$ 1,782,081
Other comprehensive income (loss)
Minimum pension liability, net of tax of $0 and $155,163, respectively		(222,363)
Reclassification of OCI to regulatory asset, net of tax of $0 and $807,192, respectively		2,748,238
Net unrealized gain (loss) on securities available for sale net of tax of $46,220 and $45,587, respectively	66,237	(98,749)
Total other comprehensive income	66,237	2,427,126
Total comprehensive income	$ 3,187,631	$ 4,209,207

Consolidated Statements of Com6

Consolidated Statements of Comprehensive Income (Parenthetical) - USD ($)	12 Months Ended
	Sep. 30, 2016	Sep. 30, 2015
Statement of Comprehensive Income [Abstract]
Income taxes for minimum pension liability	$ 0	$ 155,163
Income taxes for establishment of regulatory asset	0	807,192
Income taxes for change in unrealized gain on securities available for sale	$ 46,220	$ 45,587

Consolidated Statements of Stoc

Consolidated Statements of Stockholders' Equity - USD ($)	Common Stock [Member]	Additional Paid in Capital [Member]	Retained Earnings [Member]	Accumulated Other Comprehensive Income [Member]	Total
Balances at Sep. 30, 2014	$ 24,302	$ 26,037,603	$ 2,921,478	$ (2,398,197)	$ 26,585,186
Balances, shares at Sep. 30, 2014	2,430,184				2,430,184
Issuance of common stock	$ 194	324,766			$ 324,960
Issuance of common stock, shares	19,463
Dividends declared on common			(1,390,921)		(1,390,921)
Comprehensive income:
Change in unrealized gain on securities available for sale, net of income taxes				(98,749)	(98,749)
Minimum pension liability, net of income taxes				(222,363)	(222,363)
Accumulated OCI reduction for regulatory asset established, net of income taxes				2,748,238	2,748,238
Net income			1,782,081		1,782,081
Total comprehensive income					4,209,207
Balances at Sep. 30, 2015	$ 24,496	26,362,369	3,312,638	28,929	$ 29,728,432
Balances, shares at Sep. 30, 2015	2,449,647				2,449,647
Issuance of common stock	$ 297	406,060			$ 406,357
Issuance of common stock, shares	29,637
Dividends declared on common			(1,469,482)		(1,469,482)
Dividends declared on Preferred B Shares			(62,776)		(62,776)
Comprehensive income:
Change in unrealized gain on securities available for sale, net of income taxes				66,237	66,237
Minimum pension liability, net of income taxes
Accumulated OCI reduction for regulatory asset established, net of income taxes
Net income			3,121,394		3,121,394
Total comprehensive income					3,187,631
Balances at Sep. 30, 2016	$ 24,793	$ 26,768,429	$ 4,901,774	$ 95,166	$ 31,790,162
Balances, shares at Sep. 30, 2016	2,479,284				2,479,284

Consolidated Statements of Cash

Consolidated Statements of Cash Flows - USD ($)	12 Months Ended
	Sep. 30, 2016		Sep. 30, 2015
Cash flows from operating activities:
Net income	$ 3,121,394		$ 1,782,081
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation	1,757,604		1,620,700
Amortization of debt issuance cost	84,133		26,416
Bargain purchase gain	(1,232,082)	[1]
Non-cash pension expenses	929,321		965,938
Regulatory asset amortizations	356,658		219,042
Stock issued for services	129,833		162,414
(Gain) on sale of marketable securities	(62,994)		(88,028)
Deferred income taxes	1,066,466		991,631
Bad debt expense	68,561		159,734
Loss on joint ventures	59,670		117,505
(Increase) decrease in:
Accounts receivable	(91,222)		42,868
Unbilled revenues	(855,851)
Gas stored underground	279,948		1,108,710
Materials and supplies inventories	(93,852)		(357,845)
Prepaid expenses	(152,157)		(221,157)
Unrecovered gas costs	(681,514)		73,181
Deferred regulatory costs	(437,322)		(316,603)
Other	(307,226)		157
Increase (decrease) in:
Accounts payable	836,961		(181,874)
Accrued expenses	229,097		(115,838)
Customer deposits and accrued interest	187,858		380,718
Deferred compensation	(38,706)		(173,927)
Deferred pension costs & post-retirement benefits	(1,027,688)		(1,055,158)
Other liabilities and deferred credits	(1,005,940)		363,848
Net cash provided by operating activities	3,120,950		5,504,513
Cash flows from investing activities:
Purchase of securities available-for-sale	(1,642,238)		(934,831)
Proceeds from sale of securities available-for-sale	1,546,730		1,036,993
Amount received from (paid to) related parties	353,444		(79,766)
Investment in joint ventures	(350,000)		(1,130,000)
Acquisition of Pike County Light & Power Company, net of cash acquired	(15,310,184)
Capital expenditures	(7,504,955)		(5,825,154)
Net cash (used in) investing activities	(22,907,203)		(6,932,758)
Cash flows from financing activities:
Proceeds under lines-of-credit	3,377,900		4,389,058
Debt issuance costs	(136,326)		(982)
Cash received from sale of common stock	125,392		29,785
Cash received from sale of Series A preferred stock, net of issuance costs	2,557,916
Cash received from sale of Series B preferred stock, net of issuance costs	4,920,314
Dividends paid	(1,301,671)		(1,231,057)
Proceeds under long-term debt	14,740,412		982,903
Repayment of long-term debt	(764,005)		(2,774,259)
Net cash provided by financing activities	23,519,932		1,395,448
Net increase (decrease) increase in cash	3,733,679		(32,797)
Cash and cash equivalents at beginning of period	75,289		108,086
Cash and cash equivalents at end of period	3,808,968		75,289
Cash paid during the period for:
Interest	902,161		922,562
Income Taxes	197,889		190,736
Non-cash financing activities:
Dividends paid with shares	$ 151,131		$ 132,762
Number of shares issued for dividends	9,537		6,995
Debt assumed as part of Pike acquisition	$ 3,200,000		$ 0
[1]	This is a one-time transaction resulting from the acquisition of Pike.

Summary of Significant Accounti

Summary of Significant Accounting Policies	12 Months Ended
	Sep. 30, 2016
Accounting Policies [Abstract]
Summary of Significant Accounting Policies	(1) Summary of Significant Accounting Policies The Corning Natural Gas Holding Corporation’s (the “Holding Company”) primary business, through its subsidiaries, Corning Natural Gas Corporation (“Corning Gas” or “Gas Company”) and Pike County Light & Power Company (“Pike”), is natural gas and electric distribution. Corning Gas provides gas on a commodity and transportation basis to its customers in the Southern Tier of New York State. Pike provides electric and gas service to customers in Pike County, Pennsylvania. As used in these notes, the term “the Company” refers to the consolidated operations of the Holding Company, the Gas Company, Pike and the Appliance Company. The Company follows the Uniform System of Accounts prescribed by the Public Service Commission of the State of New York (NYPSC) which has jurisdiction over and sets rates for New York State gas distribution companies and the Pennsylvania Public Utility Commission (“PAPUC”) which has jurisdiction over and sets rates for Pennsylvania gas and electric distribution companies. The Company’s regulated operations meet the criteria to and, accordingly, follow the accounting and reporting of the Financial Accounting Standard Board (“FASB”) ASC 980 “Regulated Operations” . (a) Principles of Consolidation and Presentation The consolidated financial statements include the Holding Company and its wholly owned subsidiaries, Corning Gas, Pike and Appliance Company. All intercompany accounts and balances have been eliminated. It is the Company’s policy to reclassify amounts in the prior year financial statements to conform to the current year presentation. (b) Property, Plant and Equipment Property, plant and equipment are stated at the historical cost of construction or acquisition. These costs include payroll, fringe benefits, materials and supplies and transportation costs. The Company charges normal repairs to maintenance expense. (c) Depreciation The Company provides for depreciation for accounting purposes using a straight-line method based on the estimated economic lives of property and equipment as determined by the current rate plan based on the latest depreciation study. The depreciation rate used for Corning Gas utility plant, expressed as an annual percentage of depreciable property was 1.7% and 2.2% for of the years ended September 30, 2016 and 2015, respectively. The NYPSC allows the Gas Company recovery in revenues to offset costs of building certain projects. At the time utility properties are retired, the original cost plus costs of removal less any salvage are charged to accumulated depreciation. The depreciation rate for one month for Pike utility plant was 0.3%. The annualized percentage would be 3.5%. Pike also charges the original cost plus costs of removal less any salvage to accumulated depreciation. (d) Accounting for Impairment FASB ASC 360-10-15, “Accounting for the Impairment or Disposal of Long-Lived Assets” establishes accounting standards to account for the impairment of long-lived assets, and certain identifiable intangibles. Under FASB ASC 360-10-15, the Company reviews assets for impairment whenever events or changes in circumstances indicate that the carrying amount may not be recoverable. FASB ASC 360-10-15 also requires that a rate regulated enterprise recognize an impairment when regulatory assets are no longer probable of recovery. No impairment losses were incurred for the years ended September 30, 2016 and 2015. (e) Marketable Securities Marketable securities, which are intended to fund the Gas Company’s deferred compensation plan obligations, are classified as available for sale. Such securities are reported at fair value based on quoted market prices, with unrealized gains and losses, net of the related income tax effect, excluded from income, and reported as a component of accumulated other comprehensive income in stockholders’ equity until realized. The cost of securities sold was determined using the specific identification method. For all investments in the unrealized loss position, none have been in an unrealized loss position for more than 12 months. None are other than temporary impairments based on management’s analysis of available market research. In 2016 and 2015, the Gas Company sold equity securities for realized gains included in earnings of $62,994 and $88,028, respectively. (f) Fair Value of Financial Instruments The Company has determined the fair value of debt and other financial instruments using a valuation hierarchy. The hierarchy, which prioritizes the inputs used in measuring fair value, consists of three levels. Level 1 uses observable inputs such as quoted prices in active markets; Level 2 uses inputs other than quoted prices in active markets that are either directly or indirectly observable; and Level 3, which is defined as unobservable inputs in which little or no market data exists, requires the Company to develop its own assumptions. The carrying amount of debt on the Consolidated Balance Sheets approximates fair value as a result of instruments bearing interest rates that approximate current market rates for similar instruments, and the carrying amounts for cash, accounts receivable and accounts payable approximate fair value due to their short-term nature. The assets used to fund the pension plan and marketable securities, which fund the Gas Company’s deferred compensation plan, are valued based on Level 1 inputs. The Company has determined the fair value of certain assets through application of FASB ASC 820 “Fair Value Measurements and Disclosures”. Fair value of assets and liabilities measured on a recurring basis at September 30, 2016 and 2015 are as follows: Fair Value Measurements at Reporting Date Using: Fair Value Quoted Prices In Active Markets for Identical Assets/Liabilities (Level 1) Level 2 Level 3 September 30, 2016 Available-for-sale securities $2,220,098 $2,220,098 $- $- September 30, 2015 Available-for-sale securities $2,153,785 $2,153,785 $- $- Financial assets and liabilities valued using level 1 inputs are based on unadjusted quoted market prices within active markets. The pension assets in Note 11 are valued using level 1 inputs. (g) Cash and Cash Equivalents Cash and cash equivalents include time deposits, certificates of deposit, and all highly liquid debt instruments with original maturities of three months or less. Cash and cash equivalents at financial institutions may periodically exceed federally insured limits. (h) Accounts Receivable Accounts receivable are stated net of an allowance for doubtful accounts. The Company estimates the allowance based on its analysis of specific balances, taking into consideration the age of past due accounts and relying on rules and guidelines established by the NYPSC and PAPUC regarding customer disconnects. Under the terms of the Transitional Service Agreement (“TSA”) signed as part of the Pike acquisition from Orange & Rockland Utilities, Inc. (“O&R”), O&R will continue to bill Pike customers for up to twelve months after closing. Pike accrues for unbilled revenue monthly for customer meters read in the current month and not billed until the next month. The unbilled revenues are recognized as an unbilled revenue asset, separate from customer accounts receivable on the Company’s Consolidated Balance Sheet. Related party receivables are expenditures paid on behalf of the Holding Company’s Joint Venture investments. We expect repayment on these amounts during the year ended September 30, 2017. (l) Gas Stored Underground Gas stored underground is carried at an average unit cost method as prescribed by the NYPSC. Pike does not have any gas storage. (j) Materials and Supplies Inventories Materials and supplies inventories are stated at the lower of cost or market, cost being determined on an average unit price basis. (k) Debt Issuance Costs Costs associated with the issuance of debt by the Company are deferred and amortized over the lives of the related debt. (l) Regulatory Matters Certain costs of the Company are deferred and recognized as expenses when they are reflected in rates and recovered from customers as permitted by FASB ASC 980. These costs are shown as regulatory assets. Such costs arise from the traditional cost-of-service rate setting approach whereby all prudently incurred costs are generally recoverable through rates. Deferral of these costs is appropriate while the Company’s rates are regulated under a cost-of-service approach of the NYPSC and PAPUC for utilities. As regulated utilities, the Gas Company and Pike defer certain costs for future recovery. In a purely competitive environment, such costs might have been currently expensed. Accordingly, if the Company’s rate settings were changed from a cost-of-service approach and the Gas Company and Pike were no longer allowed to defer these costs under FASB ASC 980, certain of these assets might not be fully recoverable. However, the Company cannot predict the impact, if any, of competition and continues to operate in a cost-of-service based regulatory environment. Accordingly, the Company believes that accounting under FASB ASC 980 is appropriate . (m) Revenue and Cost of Sales The Gas Company records revenues from residential and commercial customers based on meters read on a cyclical basis throughout each month, while certain large industrial and utility customers’ meters are read at the end of each month. Several meters are read at the end of each month to calculate local production revenues. The Gas Company does not accrue revenue for gas delivered but not yet billed, as the NYPSC requires that such accounting must be adopted during a rate proceeding, which the Gas Company has not done. The Gas Company, as part of its currently effective rate plan, has a weather normalization clause as protection against severe weather fluctuations. This affects space heating customers and is activated when degree days are 2.2% greater or less than the 30-year average. As a result, the effect on revenue fluctuations of weather related gas sales is somewhat moderated. Pike recognizes revenues for electric and gas service on a monthly billing cycle basis. Pike does accrue for gas and electricity delivered. Pike does not have a weather normalization clause as protection against severe weather. In addition to weather normalization, starting in September 2009, the Gas Company implemented a revenue decoupling mechanism (RDM). The RDM reconciles actual delivery service revenues to allowed delivery service revenues (which are based on the annual customer and volume forecasts in the last rate case) for certain residential customers. The Gas Company will refund or surcharge customers for differences between actual and allowed revenues. The shortfall or excess after the annual reconciliation will be surcharged or refunded to customers over a twelve month period starting September 1 st Gas purchases are recorded on readings of suppliers’ meters as of the end of each month. The Gas Company’s and Pike’s rate tariffs include a Gas Adjustment Clause (“GAC”) or Gas Rate Clause (“GRC”) which adjusts rates to reflect changes in gas costs from levels established in the rate setting process. In order to match such costs and revenue, the NYPSC and PAPUC have provided for an annual reconciliation of recoverable GAC and GRC costs with applicable revenue billed. Any excess or deficiency in GAC and GRC revenue billed is deferred and the balance at the reconciliation date is either refunded to or recovered from customers over a subsequent twelve-month period. As part of its rate structure for electric sales, Pike is required to file quarterly a Statement of Default Services Charges. The Default Service Charges are separated into two components: (1) the Market Price of Electric Supply which is based on the forecast of electric supply costs applied to service classification-specific factors to reflect each service classification’s load characteristics, forecast sales and applicable losses, and (2) an Electric Supply Adjustment Charge to reconcile differences between default service revenues and costs. The new electric rates go into effect on the first day of the month after the filing is accepted. (n) Federal Income Tax The Company uses the asset and liability method to establish deferred tax assets and liabilities for the temporary differences between the financial reporting basis and the tax basis of the Holding Company’s assets and liabilities at enacted tax rates expected to be in effect when such amounts are realized or settled. In addition, such deferred tax assets and liabilities will be adjusted for the effects of enacted changes in tax laws and rates. (o) Revenue Taxes The Gas Company collects state revenue taxes on residential delivery rates. The amount included in Revenue and Taxes other than Federal Income Taxes was $158,893 and $175,294 in 2016 and 2015, respectively. Pike collects state revenue taxes on residential electric delivery rates. The amounts included in the financial statements were immaterial for one month of activity. (p) Stock Based Compensation The Holding Company accounts for stock based awards in accordance with FASB ASC 718. The Holding Company awards restricted shares as compensation to our directors. The shares awarded become unrestricted upon a director leaving the board. Directors who also serve as officers of Corning Gas are not compensated for their service as directors. Since these shares are restricted, in recording compensation expense, the expense incurred is 25% less than the closing price of the stock on the day the stock was awarded. Each director is awarded 375 shares for each quarter served. (q) Earnings Per Share Basic earnings per share are computed by dividing income available for common stock (net income less dividends declared on Series B Preferred Stock) by the weighted average number of common shares outstanding for the period. Diluted earnings per share reflect the potential dilution that could occur if securities or other contracts to issue common stock were exercised or converted into common stock. For the fiscal years 2016 and 2015, the net additional common stock equivalents had a $0.02 and $0.00 per share effect on the calculation of the dilutive earnings per share. The net income and average shares outstanding used to compute basic and diluted earnings per share for the years ended September 30, 2016 and September 30, 2015 are as follows: 2016 2015 Net income attributable to common shareholders $ 3,058,618 $ 1,782,081 Add Preferred B Dividends 62,776 — Net income $ 3,121,394 $ 1,782,081 Average shares outstanding - basic 2,470,171 2,440,932 Effect of dilutive stock options — 4,002 Effect of Preferred B Shares 81,421 — Average shares outstanding - diluted 2,551,592 2,444,934 (r) 311 Transportation Agreement /Compressor Station On January 11, 2010, the Gas Company entered into a contract (311 Transportation Agreement) with a local gas producer that provided for the building of a compressor station as well as the transfer of a 6” pipeline owned by the gas producer to the Company for nominal consideration. The contract also sets forth the terms, rates and condition of the transport of the local producer gas to the interstate pipeline system. On May 21, 2010, the 311 Transportation Agreement was revised to reflect a change in the projected gas delivery schedule and delivery volumes. The previously agreed to transportation rates did not change. The contract’s maximum daily delivery quantity remained the same. The schedule for attaining the maximum daily delivery quantity was altered to accommodate the project’s construction schedule. The Gas Company bought the $11 million compressor station and $2.1 million pipeline from the local producer for two dollars. The local producer has the right to repurchase these facilities for two dollars in ten years. This transaction became effective on May 12, 2011, when the station began operations. Although the Gas Company has plant available for use that had an original cost of $13.1 million, only two dollars was recognized in accordance with the Uniform System of Accounts (313.2) which states that in the case of gas plant contributed to the utility, gas plant accounts shall be charged only with such expenses, if any, incurred by the utility. (s) Collective Bargaining Agreement The Company had 59 employees as of September 30, 2016, and 58 as of September 30, 2015. Of this total, nearly half are members of the International Brotherhood of Electrical Workers Local 139 labor union working under an agreement effective until April 2, 2018. (t) Leatherstocking Companies The Holding Company has a 50% investment in Leatherstocking Gas Company, LLC (“Leatherstocking Gas”) and Leatherstocking Pipeline Company, LLC (“Leatherstocking Pipeline”). The investment and equity in both companies (collectively, “Joint Ventures”) has been recognized in the consolidated financial statements. The Holding Company has accounted for its equity investment using the equity method of accounting based on the guidelines established in FASB ASC 323. In applying the guidance of FASB ASC 323, the Holding Company recognized the investment in the Joint Ventures as an asset at cost. The investment will fluctuate in future periods based on the Holding Company’s allocable share of earnings or losses from the Joint Ventures which is recognized through earnings. (u) Business Combination The Company applies the acquisition method of accounting for business acquisitions. Under the acquisition method, the underlying tangible and intangible assets acquired and liabilities assumed are recorded based on their respective fair values at the date of acquisition. The Company uses a valuation hierarchy, as further described in Fair Value of Financial Instruments, to determine the fair values. Fair Value is subject to revision within the measurement period, not to exceed one year from the date of acquisition. Administration costs to acquire a business may include, but are not limited to, fees for accounting, legal and valuation services and are expensed as incurred in the Consolidated Statements of Comprehensive Income. In the case of the acquisition of Pike, many factors contributed to a bargain purchase. O & R primarily operates in New York and New Jersey, and having an operation in Pennsylvania created numerous additional operating costs given its differing jurisdiction. Additionally, Pike represented approximately 6,000 customers as compared to O & R’s overall customer base of over 100,000. Thus, the incremental operating costs were not economically viable for O & R. Another factor contributing to the bargain purchase is that the market for utility companies the size of Pike is relatively small, which resulted in a limited number of bidders. (v) Preferred Stock and Temporary Equity This is a new accounting policy effective for fiscal 2016. The Holding Company classifies conditionally redeemable convertible preferred shares, which includes preferred shares subject to redemption upon the occurrence of uncertain events not solely within control of the Holding Company, as temporary equity in the mezzanine section of the balance sheet, in accordance with the guidance enumerated in FASB ASC No. 480-10 "Distinguishing Liabilities from Equity". The Company also analyzes the embedded conversion feature for bifurcation, based on whether the host instrument has more equity-like or debt-like characteristics. Dividends are recorded as a reduction to retained earnings and issuance costs reduce the initial proceeds and then accreted over the life of the instrument to the redemption amount. The Holding Company records mandatorily redeemable stock as a liability in accordance with ASC 480. Dividends are recorded as interest expense and issuance costs are treated the same way as debt issuance costs. (w) New Accounting Pronouncements Not Yet Adopted In May 2014, the Financial Accounting Standards Board (“FASB”) issued new accounting guidance on revenue from contracts with customers. The new guidance requires an entity to recognize the amount of revenue to which it expects to be entitled for the transfer of promised goods and services to customers. The updated guidance will replace most existing revenue recognition guidance in GAAP when it becomes effective. This guidance is effective for fiscal years, and interim periods within those fiscal years, beginning after December 15, 2017. We are currently evaluating the effect the updated standard will have on our consolidated financial statements and related disclosures but do not expect the adoption to have a material impact. In April 2015, the FASB issued new accounting guidance on the presentation of debt issuance costs. The new guidance requires that debt issuance costs related to a note be presented as a direct deduction from that note. This guidance is effective for financial statements issued for fiscal years beginning after December 15, 2015 and interim periods within those fiscal years. The debt issuance costs will be reclassified to liabilities on the balance sheet. The amount as of September 30, 2016 is $412,316. In July 2015, the FASB issued new accounting guidance simplifying inventory measurement by requiring companies to value inventory at the lower of cost or net realizable value. This guidance is effective for financial statements issued for fiscal years beginning after December 15, 2016 and interim periods within those fiscal years. We do not believe this guidance will have a material effect on our consolidated financial statements when adopted. In September 2015, the FASB issued new accounting guidance on the recognition by the acquiring entity of adjustment to provisional amounts during the measurement period. The new guidance requires the adjustments that are identified to be recognized in the same period’s financial statements in which the adjustment amounts are determined. The entity must also present separately on the face of the income statement, or disclose separately in the notes, the portion of the amount recorded in the current-period earnings by line item that would have been recorded in previous periods if the adjustment had been identified as of the acquisition date. This guidance is effective for financial statements issued for fiscal years beginning after December 15, 2015 and interim periods within those fiscal years. We are still evaluating whether this guidance will have a material effect on our consolidated financial statements when adopted. In January 2016, the FASB issued new accounting guidance on the recognition and measurement of financial assets and financial liabilities. The new guidance requires for equity investments (except those accounted for under the equity method of accounting or those that request in consolidation of the investee) to be measured at fair value with changes in fair value recognized in net income. This guidance is effective for financial statements issued for fiscal years beginning after December 15, 2017 and interim periods within those fiscal years. Early application is not permitted. We are still evaluating whether this guidance will have a material effect on our consolidated financial statements when adopted. In March 2016, the FASB issued new accounting guidance on investments that qualify for use of the equity method of accounting. The new guidance eliminates the need for retroactive adjustments when qualifying for the equity method. This guidance is effective for financial statements issued for fiscal years beginning after December 15, 2016 and interim periods within those fiscal years. We do not believe this guidance will have a material effect on our consolidated financial statements when adopted. In March 2016, the FASB issued new guidance regarding share-based payment transactions, including income tax consequence, classification of awards and classification on the statement of cash flows. This guidance is effective for financial statements issued for fiscal years beginning after December 15, 2016 and interim periods within those fiscal years. We are still evaluating whether this guidance will have a material effect on our consolidated financial statements when adopted. Early Adoption of New Accounting Guidance In November 2015, the FASB issued new accounting guidance on the classification of deferred taxes. The new guidance requires that all deferred tax assets and liabilities be classified as noncurrent in a classified statement of financial position. This guidance is effective for financial statements issued for fiscal years beginning after December 15, 2016 and interim periods within those fiscal years. Early application is permitted. When the guidance is effective all deferred tax assets and liabilities will be presented as noncurrent. We have chosen to apply the guidance retroactively. As a result, as of September 30, 2015, we have reclassified a deferred tax liability of $385,973 from short-term to long-term. As of September 30, 2016, we have reclassified a deferred tax liability of $471,764 from short-term to long-term.

Major Customers

Major Customers	12 Months Ended
	Sep. 30, 2016
Risks and Uncertainties [Abstract]
Major Customers	(2) Major Customers The Gas Company has four major customers, Corning Incorporated, New York State Electric & Gas, Bath Electric, Gas & Water Systems, and Repsol Energy North America (“Repsol”, formerly Talisman Energy USA Incorporated). Although Repsol is a significant customer, the Gas Company does not deliver gas to Repsol. Rather the Gas Company receives gas from several of Repsol’s gathering systems and wells, and transports its gas through our system. Although no customer represents at least 10% of our total revenue, the loss of any of these customers could have a significant impact on the Company’s financial results.

Property, Plant and Equipment

Property, Plant and Equipment	12 Months Ended
	Sep. 30, 2016
Plant:
Property, Plant and Equipment	(3) Property, Plant and Equipment The following table summarizes fixed assets included in utility plant on the Holding Company’s Consolidated Balance Sheet at September 30, 2016 and 2015: 2016 2015 Utility Plant $ 26,617,766 $ 21,641,078 Poles & Line 10,618,080 0 Pipeline 44,440,597 39,939,110 Structures 7,158,817 5,119,970 Land 1,709,977 696,067 Construction Work in Progress 3,809,312 1,390,017 All Other 6,195,672 5,510,932 $ 100,550,221 $ 74,297,174 Useful life for the above assets range from 35 to 55 years for utility plant, 30 to 65 years for poles and line, 66 years for pipeline, from 45 to 47 years for structures, 50 to 65 years for land rights and 5 to 25 years for all other and corporate fixed assets. Utility plant includes station equipment, services, meters, regulators including all costs to install those assets. Poles and line include poles, line and conductors. Total mains installed are represented in pipeline. Structures include both regulator station buildings and office and operations buildings. All other plant includes all general plant except for buildings and land and land rights.

Marketable Securities

Marketable Securities	12 Months Ended
	Sep. 30, 2016
Investments, Debt and Equity Securities [Abstract]
Marketable Securities	(4) Marketable Securities A summary of the marketable securities at September 30, 2016 and 2015 is as follows: Cost Basis Unrealized Gain Unrealized Loss Market Value 2016 Cash and equivalents $ 53,408 — — 53,408 Metlife stock value 51,185 — — 51,185 Government and agency bonds 392,969 4,859 — 397,828 Corporate bonds 283,655 — 2,983 280,672 Mutual funds 43,624 — 4,206 39,418 Corning Preferred A Stock 197,875 — — 197,875 Equity securities 1,035,809 163,903 — 1,199,712 Total securities $ 2,058,525 $ 168,762 $ 7,189 $ 2,220,098 2015 Cash and equivalents $ 41,500 — — 41,500 Metlife stock value 51,185 — — 51,185 Government and agency bonds 301,673 1,763 — 303,436 Corporate bonds 337,757 — 3,973 333,784 Mutual funds 79,515 — 8,555 70,960 Equity securities 1,293,039 59,881 1,352,920 Total securities $ 2,104,669 $ 61,644 $ 12,528 $ 2,153,785 The government and agency bonds have contractual maturity dates between June 30, 2018 and August 15, 2024. The contractual maturity dates for the corporate bonds are from December 15, 2016 to May 1, 2023.

Regulatory Matters

Regulatory Matters	12 Months Ended
	Sep. 30, 2016
Regulated Operations [Abstract]
Regulatory Matters	(5) Regulatory Matters Below is a summary of the Gas Company’s regulatory assets as of September 30, 2016 and 2015: 2016 2015 Unrecovered gas costs $ 718,705 $ 37,191 Deferred regulatory costs 3,596,302 2,751,339 Deferred pension costs 6,297,895 4,517,673 Total regulatory assets $ 10,612,902 $ 7,306,203 Unrecovered gas costs arise from an annual reconciliation of certain gas revenue and costs (as described in Note 1) and are recoverable in customer rates in the year following the reconciliation. The following table summarizes regulatory costs at September 30, 2016 and 2015: 2016 2015 Deferred rate case costs $ 992,108 $ 897,942 Deferred rate case reconciliations 2,604,194 1,853,397 Total $ 3,596,302 $ 2,751,339 Deferred rate case costs are costs that were incurred in prior rate cases that are amortized over a period determined by the NYPSC or PAPUC in the current rate case and are recoverable over that period. Deferred rate case reconciliations result from target reconciliations set up in the current rate case and recovery will be determined by the NYPSC and PAPUC either through Delivery Rate Adjustment or the next rate case. In fiscal year 2015 the Gas Company determined that it met the criteria to record the minimum pension liability as a regulatory asset in accordance with ASC 980-715-25-5. As a result of this change in estimate, amounts previously recorded as Accumulated OCI, net of tax have been recorded as regulatory assets in the current year in accordance with ASC 980-715-25-8, as well as a related deferred tax liability. The amount of the regulatory asset was $6,297,895 and $4,517,673 as of September 30, 2016 and September 30, 2015, respectively. The increase to OCI was $2,748,238 for the year ended September 30, 2015. For periods after the fiscal year ended September 30, 2015, there will be no change to OCI because of the change. Factors considered included: (1) consistent recovery of the pension costs on an accrual basis historically and in the current rate case, (2) no indication of expected changes to recovery, and (3) the existence of a reconciliation process to track the recovery of these costs. For these reasons management determined the Gas Company met the criteria as set forth in ASC 980-725-25-5. Also included in pension costs and post-retirement benefits is approximately $116,000 and ($35,000) for 2016 and 2015, respectively, for regulatory assets and (liabilities) related to pension and post-retirement costs. These amounts include both amounts approved to be amortized in the previous rate case and amounts being accumulated for the next rate case. Included in other in deferred credits and other is $372,329 and $1,388,049 for the periods ended September 30, 2016 and 2015 for deferred rate case reconciliations. Although the Company expects to recover the cost of its regulatory assets, it does not earn a return on them. The Company expects that regulatory assets other than deferred unrecovered gas costs and deferred pension costs related to minimum pension liability will be fully recoverable from customers by the end of its next rate case.

Long-term Debt

Long-term Debt	12 Months Ended
	Sep. 30, 2016
Debt Disclosure [Abstract]
Long-term Debt	(6) Long-term Debt Long-term debt, including the current portion, was as follows at September 30, 2016 and 2015: 2016 2015 Note payable - variable rate with 4.5% floor with monthly installments through May 2020 — 501,931 Note Payable - 5.79% with monthly installments through August 2018 — 451,323 Note Payable - variable rate with 4.25% floor, monthly installments through November 2016 — 1,313,318 Note Payable - variable rate with 3.75% floor, monthly installments through November 2017 — 1,847,391 Note Payable - 4.46% with monthly installments through July 2017, then refinanced at new rate — 184,654 Note Payable - 4.46% with monthly installments through July 2017, then refinanced at new rate — 184,651 Note Payable - 4.2% with monthly installments through November 2018 — 2,950,113 Note Payable - 4.51% with monthly installments through September 2018 — 1,831,886 Note Payable - 4.18% with monthly installments through November 2018 — 1,972,221 Note Payable - 4.39% with monthly installments through November 2019 — 3,540,206 Note Payable - 4.49% with monthly installments through July 2019 — 552,853 M&T Bank - vehicle loans bearing interest at rates ranging from 4.37% to 5% 53,937 146,983 Note Payable - variable calculated quarterly with monthly Installments through January 2022 17,400,000 — Note Payable - variable calculated quarterly with monthly Installments through January 2021 4,200,000 — Bond Payable - 7.07% paid semi-annually with principal due October 2018 3,200,000 — Note Payable - variable calculated quarterly with monthly Installments through August 2021 12,000,000 — Total long-term debt $ 36,853,937 $ 15,477,530 Less current installments 5,558,156 2,923,133 Long-term debt less current installments $ 31,295,781 $ 12,554,397 The aggregate maturities of long-term debt for each of the five years subsequent to September 30, 2016 are as follows: 2017 $ 5,558,156 2018 $ 3,745,604 2019 $ 3,812,603 2020 $ 3,894,393 2021 $ 12,055,575 2022+ $ 7,787,606 On January 27, 2016, we entered into an agreement with Manufacturers and Traders Trust Company (“M&T”) in the amount of $17.4 million to consolidate all previous term debt into one loan. As collateral, the Gas Company granted M&T a security interest in all utility property, including plant and equipment, contract rights, easements and rights of way of the Gas Company. The agreement includes the following covenants to be measured quarterly: (i) maintain a ratio of total funded debt to EBITDA (earnings before interest, income taxes, depreciation and amortizations) of not greater than 3.75 to 1.0 and (ii) maintain cash flow coverage of not less than 1.1 to 1.0 based on the Company’s trailing twelve month operating performance and fiscal operating statements. The interest rate is a variable rate determined by the Gas Company’s funded debt to EBITDA ratio calculated ninety days after the end of each quarter added to the daily LIBOR rate. Until the first rate adjustment on March 31, 2016, the rate was 2.4%. On April 1, 2016 the rate continued at 2.4% and was 3.2% at September 30, 2016. This note will be due as interest only for the first year. In February 2017, the first of fifty-nine equal monthly principal payments of $207,143 along with the variable accrued interest will be due. In the sixtieth month there will be a final payment due equal to all outstanding principal and interest. Only the difference between the amount of the note and the long term debt refinanced by the note has been recognized as a cash item on the Consolidated Statements of Cash Flow. The Gas Company will owe a pre-payment penalty on payment of unpaid principal made in advance of the maturity date and must give at least a three day notice prior to the payment. Also on January 27, 2016, the Gas Company entered into an agreement with M&T in the amount of $4.2 million for a multiple disbursement note to refinance seventy percent of the NYPSC mandated 2015 construction projects with no additional collateral pledged. All amounts have been borrowed as of March 31, 2016. A NYPSC capital expenditure tracker report was required to receive any advances on this note. Interest will be a variable rate determined by the Gas Company’s funded debt to EBITDA ratio calculated ninety days after the end of each quarter added to the daily LIBOR rate. Until the first rate adjustment on March 31, 2016, the rate was 2.4%. This rate continued at April 1, 2016 and was 3.2% at September 30, 2016. Interest only will be due for the first twelve months then will convert to a term loan payable in forty-seven equal payments based on a seven year amortization schedule with a final payment of all outstanding principal and interest due. Since this note replaced a $4.2 million short term note, it has not been recognized as a financing activity on the Consolidated Statements of Cash Flow. The Gas Company will owe a pre-payment penalty on payment of unpaid principal made in advance of the maturity date and must give at least a three day notice prior to the payment. The Gas Company entered into an additional $4.2 million Multiple Disbursement Term Note with M&T Bank on August 31, 2016 which permits draws from time to time in accordance with its terms until December 31, 2016 at which time amounts outstanding under the note will be payable in 56 monthly installments of principal, based on a 7-year amortization schedule, with all unpaid principal and interest payable in full on August 31, 2021. Interest on the amounts outstanding under the note is based on a spread over LIBOR which varies from 1.9% to 2.8% based on the ratio of the Gas Company’s total funded debt to EBITDA (the “Leverage Ratio”) with the spread set at 3.1% until September 30, 2016. If the Leverage Ratio is less than or equal to 2.0, the interest rate is LIBOR plus 1.9%; if the Leverage Ratio is greater than 2.0 but less than or equal to 2.5, the interest rate is LIBOR plus 2.2%; if the Leverage Ratio is greater than 2.5 but less than or equal to 3.0, the interest rate is LIBOR plus 2.5%; and if the Leverage Ratio is greater than 3.0, the interest rate is LIBOR plus 2.8%. The obligations of the Gas Company to M&T Bank are secured under an additional general security agreement covering the Gas Company’s tangible and intangible rights in its gas distribution system, personal property and other assets. The Gas Company will owe a pre-payment penalty on payment of unpaid principal made in advance of the maturity date and must give at least a three day notice prior to the payment. The first draw on this note was $3.0 million on October 5, 2016. On August 31, 2016, the Holding Company’s newly acquired, wholly-owned subsidiary Pike had outstanding $3.2 million in outstanding First Mortgage Bonds, 7.07% Series C Due 2018 (the “Pike Bonds”) issued pursuant to the Indenture of Mortgage and Deed of Trust, between Pike and Deutsche Bank as trustee (as successor to Bankers Trust Company) (the “Trustee”), as amended by the First Supplemental Indenture, dated as of August 15, 1990 and the Second Supplemental Indenture, dated as of October 1, 1998 (collectively, the “Indenture”). The Pike Bonds bear interest at 7.1% payable on the first day of each April and October and the principal amount of $3.2 million is due and payable on October 1, 2018. The Holding Company has caused Pike to call the Pike Bonds for redemption as of October 2, 2016, at the 100.372% of outstanding principal amount plus accrued and unpaid interest to the redemption date. Substantially all of the real property and tangible personal property of Pike is subject to the lien of the Indenture. The Indenture contains various covenants of Pike, including maintaining the assets of Pike which are secured under the Indenture free of other liens subject to certain “Permitted Encumbrances” and other liens, including liens expressly junior to the lien of the Indenture. Other covenants in the Indenture include obligations of Pike to pay taxes, maintain and repair its properties, maintain insurance, and to not pay dividends or make repurchases or distributions on its common stock except from its “Net Income” as defined in the Indenture plus $105,000 subject to certain exceptions. In addition, Pike covenants in the Indenture not to sell or lease its property, pay management fees to its parent entity, or create funded debt, in each case subject to exceptions. The Pike Bonds were repaid on October 3, 2016. On August 31, 2016, Pike entered into a Credit Agreement with M&T Bank in the amount of $12.0 million. The Credit Agreement contains various affirmative and negative covenants of Pike including, (i) a total funded debt to tangible net worth ratio of not greater than 1.4 to 1.0, (ii) a total funded debt to EBITDA ratio of not greater than 3.75 to 1.0, and (iii) a minimum cash flow overage of not less than 1.1 to 1.0, with each of the financial covenants measured quarterly based on Pike’s trailing twelve month operating performance and fiscal quarterly financial statements commencing with the period ended September 30, 2017; compliance, accounting, and financial statement requirements, and prohibitions on changes in management or control, any sale of all or substantially all of its assets, acquisitions of substantially all the asset of any other entity, or other material changes to its business, purposes, structure or operations which could materially adversely affect Pike. The note bears interest at 3.0% above one month LIBOR, adjusting daily, payable monthly commencing September 30, 2016. Principal on the note is payable commencing March 31, 2017 (after six-months of interest only payments), with 53 consecutive monthly payments of $100,000 each due on the last day of each month, with the unpaid principal and any unpaid interest due and payable in full on August 31, 2021. The proceeds of the note were used to pay a portion of the purchase price of its capital stock purchase of Pike. Pike will owe a pre-payment penalty on payment of unpaid principal made in advance of the maturity date and must give at least a three day notice prior to the payment. The Gas Company and Pike are in compliance with all of their loan covenants as of September 30, 2016.

Lines of Credit and Short Term

Lines of Credit and Short Term Debt	12 Months Ended
	Sep. 30, 2016
Line of Credit Facility [Abstract]
Lines of Credit and Short Term Debt	(7) Lines of Credit and Short Term Debt On October 27, 2015, the Gas Company extended its line of credit agreement with Community Bank N.A. (“Community Bank”) in the amount of $8.5 million that originally was to expire expire on April 1, 2016. Borrowings outstanding on this line were $0 and $7,003,599 at September 30, 2016 and 2015, respectively. The maximum amount outstanding during the years ended September 30, 2016 and 2015 were $8,406,484 and $7,581,344, respectively. The interest rate is calculated as the 30-day Libor Rate plus 2.5%. As security for the Gas Company’s line of credit, Community Bank has a purchase money interest in all of our natural gas purchases utilizing funds advanced by Community Bank under the line-of-credit agreement and all proceeds of sale of the gas to customers and related accounts receivable. Under the terms of this line the Gas Company is required to maintain a debt to tangible net worth ratio of less than 2.5 to 1 and a debt service coverage ratio of 1.1 to 1. On September 30, 2015, the interest rate was 3.0%. This line of credit was closed in January 2016. The weighted average interest rates on outstanding borrowings during fiscal years 2016 and 2015 were 2.8% and 2.9%, respectively. On January 27, 2016, the Gas Company entered into an agreement with M&T for a revolving line of credit of $8.0 million at a variable interest rate determined by the Gas Company’s funded debt to EBITDA ratio calculated ninety days after the end of each quarter added to the daily LIBOR rate. This line expires on April 1, 2017. The amount outstanding under this line on September 30, 2016 was approximately $7.5 million with an interest rate of 3.2%. The maximum amount outstanding during the year ended September 30, 2016 was $7,818,800. Our lender has a purchase money security interest in all our natural gas purchases utilizing funds advanced by the bank under the credit agreement and all proceeds of sale and accounts receivable from the sale of that gas. On August 31, 2016, Pike also entered into an agreement with M&T for a $2.0 million revolving line of credit at an interest rate equal to LIBOR plus 2.75% with principal repayable on demand by the Lender. As of September 30, 2016, Pike had drawn $700,000 at an interest rate of 3.3%. The agreement contains various affirmative and negative covenants of Pike including, (i) a total funded debt to tangible net worth ratio of not greater than 1.4 to 1.0, (ii) a total funded debt to EBITDA ratio of not greater than 3.75 to 1.0, and (iii) a minimum cash flow overage of not less than 1.1 to 1.0, with each of the financial covenants measured quarterly based on Pike’s trailing twelve month operating performance and fiscal quarterly financial statements commencing with the period ended September 30, 2017; compliance, accounting, and financial statement requirements, and prohibitions on changes in management or control, any sale of all or substantially all of its assets, acquisitions of substantially all the asset of any other entity, or other material changes to its business, purposes, structure or operations which could materially adversely affect Pike.

Preferred Stock

Preferred Stock	12 Months Ended
	Sep. 30, 2016
Equity [Abstract]
Preferred Stock	(8) Preferred Stock The Holding Company filed a Registration Statement on Form S-1 with the Securities and Exchange Commission with respect to a subscription rights offering to its stockholders to issue up to approximately $11.0 million in preferred stock. The subscription rights were distributed on a one-for-one basis to stockholders of record as of April 14, 2016 and expired on June 20, 2016. The Form S-1 covered 2,468,961 subscription rights for the purchase of up to 140,000 shares of 6% Series A Cumulative Preferred Stock and up to 360,000 shares of 4.8% Series B Convertible Preferred Stock. Each subscription right entitled the holder to purchase either: (i) one-eighth share of the 6% Series A Cumulative Preferred Stock, par value $0.01 per share, for $25.00 per share, or (ii) one-sixth share of the 4.8% Series B Convertible Preferred Stock, par value $0.01 per share, for $20.75 per share, which is convertible in accordance with its terms into one share of common stock, subject to adjustment. Of the 140,000 shares of Series A Cumulative Preferred Stock available, 105,303 shares were subscribed and of the 360,000 shares of Series B Convertible Preferred Stock available, 244,263 shares were subscribed. Each shareholder exercising over-subscription rights was able to purchase all of the additional shares of Preferred Stock for which the shareholder subscribed. During the year ended September 30, 2016 the Holding Company received approximately $7.7 million less issuance costs of approximately $225,000 for net proceeds of approximately $7.5 million, of which approximately $197,000 of the Series A Preferred Stock proceeds was received from the Company’s Rabbi Trust investment. Series A Cumulative Preferred Stock accrues cumulative dividends at a rate of 6.0% of the liquidation preference per share ($25.00) and are expected to be paid on or about the 14th day of April, July, October and January of each year starting October 14, 2016. The dates of record for the dividends, if any, will be March 31, June 30, September 30 and December 31, immediately preceding the relevant dividend payment date. On September 30, 2023, outstanding shares of Series A Cumulative Preferred Stock will mature and be redeemed solely in cash at a redemption price equal to the liquidation preference per share plus an amount equal to all accrued but unpaid dividends subject to our having funds legally available for redemption under New York law. In the event of a fundamental change as defined on the Certificate of Amendment to the Certificate of Incorporation, holders of Series A Cumulative Preferred Stock have the right to redeem their shares at a redemption price equal to the liquidation preference per share plus an amount equal to all accrued but unpaid dividends prior to the effective date of the fundamental change subject to our having funds legally available for such redemption under New York law. A fundamental change is generally defined as a change of control of the Holding Company. The holders of Series A Cumulative Preferred Stock will have no voting rights except as specifically required by New York laws or by the Charter, as amended by the Certificate of Amendment which allows voting rights under specific circumstances. If dividends on shares of Series A Cumulative Preferred Stock have not been declared and paid for eight or more consecutive dividend periods, the holders of Series A Cumulative Preferred Stock and Series B Convertible Preferred Stock, voting together as a single class with holders of all other preferred stock of equal rank having similar voting rights, will be entitled at our next special or annual meeting of shareholders to vote for the election of a total of one additional member of our Board of Directors, subject to certain limitations. The Series A Cumulative Preferred Stock will rank, with respect to priority of dividend payments and rights upon liquidation, dissolution or winding up, senior to all classes or series of our common stock, and to any other class or series of our capital stock issued in the future, unless the terms of that capital stock expressly provide that it ranks senior to, or on parity with, the Series B Convertible Preferred Stock; on parity with any class or series of our capital stock, the terms of which expressly provide that it will rank on parity with the Series A Cumulative Preferred Stock, including the Series B Convertible Preferred Stock; and junior to any other class or series of our capital stock, the terms of which expressly provide that it will rank senior to the Series A Cumulative Preferred Stock, none of which exists on the date hereto, and the issue of which would be subject to the approval of a majority of the outstanding shares of Series A Cumulative Preferred Stock and all other preferred stock of equal rank having similar rights voting as a single class; and subject to funds legally available and payment of or provision for our debts and other liabilities. In accordance with ASC 480, because of the mandatory redemption feature this is treated as liability. The issuance costs of approximately $75,000 are treated as debt issuance costs and will be amortized over the life of the instrument. Future dividends will be recorded as interest expense. Dividends will begin to accrue July 1, 2016. For the quarter ended September 30, 2016, $40,542 was accrued for dividends paid on October 15, 2016 to shareholders of record on September 30, 2016. Series B Convertible Preferred Stock accrues cumulative dividends at a rate of 4.8% of the liquidation preference per share ($20.75) and are expected to be paid on or about the 14th day of April, July, October and January of each year commencing October 14, 2016. The dates of record for the dividends, if any, will be March 31, June 30, September 30 and December 31, immediately preceding the relevant dividend payment date. At any time and from time to time after issuance, the shares of Series B Convertible Preferred Stock are convertible, in whole or in part, at the option of the holder into shares of common stock at the rate of one (1) share of our common stock for each one (1) share of Series B Convertible Preferred Stock, subject to adjustment for standard anti-dilution adjustments such as stock dividends or stock distributions; subdivisions or combinations of our common stock; and certain tender or exchange offers by us or one of our subsidiaries for our common stock, in each case subject to certain exceptions. In the event a holder of shares of the Series B Convertible Preferred Stock elects to convert any shares of Series B Convertible Preferred Stock that would result in such shareholder owning more than 10% of the capital stock of the Gas Company under the provisions of Section 70 of the New York Public Service Law, that holder would be unable to exercise the conversion right without prior consent of the NYPSC. The Holding Company will not pay any cash to a holder in respect of such conversion or otherwise settle any such conversion in cash, other than the right of the holder to receive payment in lieu of any fraction of a share in exchange therefor. The NYPSC approved the exercise of conversion rights on any Series B Convertible Preferred Stock by our three existing shareholders of 10% or more of our common stock. On September 30, 2026, outstanding shares of Series B Cumulative Preferred Stock will mature and be redeemed solely in cash at a redemption price equal to the liquidation preference per share plus an amount equal to all accrued but unpaid dividends subject to our having funds legally available under New York law. In the event of a fundamental change as defined on the Certificate of Amendment to the Certificate of Incorporation, holders of Series B Convertible Preferred Stock have the right to redeem their shares at a redemption price equal to the liquidation preference per share plus an amount equal to all accrued but unpaid dividends prior to the effective date of the fundamental change subject to our having funds legally available for such redemption under New York law. A fundamental change is generally defined as a change of control of the Holding Company. The holders of Series B Convertible Preferred Stock will have no voting rights except as specifically required by New York laws or by the Holding Company’s Charter, as amended by the Certificate of Amendment which allows voting rights under specific circumstances as described in the Certificate of Amendment. If dividends on shares of Series B Convertible Preferred Stock have not been declared and paid for eight or more consecutive dividend periods, the holders of Series B Convertible Preferred Stock and the Series A Cumulative Preferred Stock, voting together as a single class with holders of all other preferred stock of equal rank having similar voting rights, will be entitled at our next special or annual meeting of shareholders to vote for the election of a total of one additional member of our Board of Directors, subject to certain limitations. The Series B Convertible Preferred Stock will rank, with respect to priority of dividend payments and rights upon liquidation, dissolution or winding up senior to all classes or series of our common stock, and to any other class or series of our capital stock issued in the future, unless the terms of that capital stock expressly provide that it ranks senior to, or on parity with, the Series A Cumulative Preferred Stock; on parity with any class or series of our capital stock, the terms of which expressly provide that it will rank on parity with the Series B Convertible Preferred Stock, including the Series A Cumulative Preferred Stock; and junior to any other class or series of our capital stock, the terms of which expressly provide that it will rank senior to the Series B Convertible Preferred Stock, none of which exists on the date of this report, and the issue of which would be subject to the approval of a majority of the outstanding shares of Series B Convertible Preferred Stock and all other stock of equal rank having similar rights voting as a single class; and subject to funds legally available and payment of or provision for our debts and other liabilities. In accordance with ASC 480, Series B Cumulative Preferred Stock is not considered mandatorily redeemable as a result of the conversion feature presenting a contingency related to the redemption dates. Accordingly, this is not considered a liability. However, as a result of the decision related to conversion and not reaching redemption resting with the holder, this instrument has been classified as temporary equity in accordance with ASC 480. Upon conversion, the instrument would be reclassified as permanent equity. Dividends will be recorded each period in the consolidated statement of changes in stockholders’ equity and will begin to accrue July 1, 2016. For the quarter ended September 30, 2016, $62,776 was accrued for dividends paid on October 15, 2016 to shareholders of record on September 30, 2016. The Company determined that bifurcation of the embedded conversion option feature was not required. The issuance costs of approximately $150,000 reduce the initial proceeds and will be accreted until redemption or conversion.

Stockholders Equity

Stockholders Equity	12 Months Ended
	Sep. 30, 2016
Stockholders' Equity Note [Abstract]
Stockholders Equity	(9) Stockholders Equity For the fiscal year ended September 30, 2016, there were a total of 29,637 shares of common stock issued for $125,392 of cash, $129,833 of services and $151,131 of DRIP (dividend reinvestment program). There were 10,500 shares issued to directors, 600 shares sold to Leatherstocking Gas, which used the shares to compensate its independent director, Carl Hayden, 9,537 shares issued to various investors under the DRIP and 9,000 options exercised. On May 28, 2009, the Gas Company registered with the Securities and Exchange Commission (“SEC”) 100,000 shares of common stock with a par value of $.01 per share for the DRIP. As of November 12, 2013, the Holding Company registered 129,004 shares of common stock with a par value of $.01 per share for the DRIP. As part of this program 761 shares were issued in fiscal year 2009, 2,319 shares were issued in fiscal year 2010, 3,976 shares in fiscal year 2011, 5,689 shares in fiscal year 2012, 7,433 shares in fiscal year 2013, 7,219 shares in fiscal year 2014, 6,995 shares in fiscal year 2015 and 9,537 shares in fiscal 2016. A total of 43,929 shares have been issued since the program started. Dividends on shares of common stock are accrued when declared by the board of directors. At its regular meeting on December 19, 2014, the board of directors approved a quarterly dividend of $.135 a share. This dividend was paid on January 15, 2015 to shareholders of record on December 31, 2014. At its regular meeting on January 20, 2015, the board of directors approved an increase in the quarterly dividend to $.145 a share. This dividend was paid on April 15, 2015 to shareholders of record on March 31, 2015, and on July 15, 2015 to shareholders of record on June 30, 2015. There was a dividend paid on October 15, 2015 to shareholders of record on September 30, 2015 and on January 15, 2016 to shareholders of record on December 31, 2015. At its regular meeting on February 3, 2016, the board of directors approved an increase in the quarterly dividend to $.15 a share. This dividend was paid to shareholders of record on March 31, 2016 on April 15, 2016, and for shareholders of record on June 30, 2016 on July 15, 2016. For the quarter ended September 30, 2016, $371,608 was accrued for dividends paid on October 15, 2016 to common stock shareholders of record on September 30, 2016.

Investment in Joint Ventures

Investment in Joint Ventures	12 Months Ended
	Sep. 30, 2016
Equity Method Investments and Joint Ventures [Abstract]
Investment in Joint Ventures	(10) Investment in Joint Ventures The Holding Company has an interest in Leatherstocking Gas and Leatherstocking Pipeline, each of which is a joint venture with Mirabito Regulated Industries, LLC, accounted for by the equity method. Leatherstocking Gas is currently moving forward on expansions to several areas in the northeast. The Holding Company and Mirabito Regulated Industries, LLC each own 50% of the joint venture and each appoints three managers to operate Leatherstocking Gas. The seventh manager is a neutral manager agreed to by the Holding Company and Mirabito Regulated Industries, LLC who is not an officer, director, or employee of either company, currently Carl T. Hayden. The current managers are Joseph P. Mirabito, John J. Mirabito and William Mirabito from Mirabito Regulated Industries, LLC; Matthew J. Cook, Michael I. German and Russell S. Miller from the Holding Company; and Carl T. Hayden as the neutral manager. Michael I. German is the Chief Executive Officer and President of the Holding Company and is also a stockholder and current board member of the Holding Company. Joseph P. Mirabito and William Mirabito are stockholders and current board members of the Holding Company. Leatherstocking Gas has received franchises from the Village and Town of Sidney, Village and Town of Bainbridge, Village and Town of Windsor, Village and Town of Unadilla, and Village and Town of Delhi in New York. Leatherstocking Gas’ petitions for authority to exercise its franchises in the Town and Village of Windsor are currently pending before the NYPSC. In addition, Leatherstocking Gas has acquired sixteen franchises in Susquehanna and Bradford Counties, Pennsylvania. Leatherstocking Gas has met with potential customers and public officials, as well as attended public hearings, and believes there is interest in acquiring gas service. On July 25, 2013, Leatherstocking Gas signed a loan agreement with Five Star Bank for $1.5 million to finance construction in Bridgewater, Pennsylvania. This agreement increased to $1.8 million before converting to a long-term note. Construction in the Township of Bridgewater began in July 2013 and Leatherstocking Gas began serving customers in October 2013. Construction of the Borough of Montrose system started in the spring of 2014 and construction started in the Township of Dimock in November 2014. Leatherstocking Gas currently serves approximately 290 customers in these boroughs and townships as of June 30, 2016. On August 28, 2014, Leatherstocking Gas, as borrower, and Leatherstocking Pipeline as guarantor, entered into a loan agreement with Five Star Bank for up to $4 million over two years to finance the work and services required for the infrastructure costs and ongoing costs of underground piping construction projects in Montrose, Bridgewater and Dimock, Pennsylvania. This agreement required equity investments from the Holding Company and Mirabito Regulated Industries for a total of 66% of all amounts borrowed. During fiscal year 2014, $1,500,000 was borrowed and both the Holding Company and Mirabito Regulated Industries invested $500,000. During fiscal year 2015, $2,500,000 was borrowed and both the Holding Company and Mirabito Regulated Industries invested $850,000. As of September 30, 2015, Leatherstocking Gas had drawn the $4 million available over the two year period on this loan. Both of these agreements have a loan covenant related to debt service coverage being at least 1.15 to 1 at September 30, 2016. Leatherstocking Gas was in violation of this covenant and received a waiver. In February 2015, Leatherstocking Gas purchased a 1.5 mile high pressure gas main along with a meter, heater and regulator station for $900,000. This purchase was funded with a new loan agreement with Five Star Bank for $540,000 and investments from the Holding Company and Mirabito Regulated Industries of $180,000 each. Another $100,000 was invested by both companies for total investments of $1,130,000 by each for the year ended September 30, 2015. The new note matures on March 1, 2020 with an interest rate of 4.58%. With this purchase, Leatherstocking Gas began service to a large industrial customer. On October 19, 2015, Leatherstocking Gas and Five Star Bank entered into an agreement which allowed Leatherstocking Gas to borrow up to $500,000 as a line-of-credit note with interest only payments to finance the continued and additional infrastructure cost of the construction project in Northern Pennsylvania. This required an investment of approximately $166,667 from both the Holding Company and Mirabito Regulated Industries. Leatherstocking Pipeline is a guarantor of this loan. The total of $500,000 had been drawn on this note as of December 31, 2015 and the required investment was made in previous quarters. On July 11, 2016, Leatherstocking Gas and Five Star Bank entered into an agreement which allows Leatherstocking Gas to borrow up to $1.25 million as a line-of-credit note with interest only payments to finance the continued and additional infrastructure cost of the construction project in Northern Pennsylvania. Approximately $613,000 has been drawn on this loan as of September 30, 2016 and required an investment of approximately $204,000 each from the Holding Company and Mirabito Regulated Industries. Leatherstocking Pipeline is a guarantor of this loan. The interests in Leatherstocking Pipeline, which was formed with the same structure and managers as Leatherstocking Gas, are also held by the Holding Company. Leatherstocking Pipeline is an unregulated company whose purpose is to serve one customer in Lawton, Pennsylvania. In the spring and summer of 2012, Leatherstocking Pipeline built and placed in service facilities to serve that customer. The investment and equity in both Leatherstocking companies (collectively, the “Joint Ventures”) has been recognized in the consolidated financial statements. The Holding Company has accounted for its equity investment using the equity method of accounting based on the guidelines established in FASB ASC 323. In applying the guidance of FASB ASC 323, the Holding Company recognized the investment in the Joint Ventures as an asset at cost. The investment will fluctuate in future periods based on the Holding Company’s allocable share of earnings or losses from the Joint Ventures which is recognized through earnings. The following table represents the Holding Company’s investment activity in the Joint Ventures at September 30, 2016 and September 30, 2015: 2016 2015 Beginning balance in investment in joint ventures $ 2,293,252 $ 1,280,757 Investment in joint ventures during year 350,000 1,130,000 (Loss) in joint ventures during year (59,670 ) (117,505 ) Ending balance in joint ventures $ 2,583,582 $ 2,293,252 As of and for the year ended September 30, 2016, the Joint Ventures had combined assets of $12.6 million, combined liabilities of $7.5 million and combined net losses of approximately $119,000. As of and for the year ended September 30, 2015, the Joint Ventures had combined assets of $11.9 million, combined liabilities of $7.3 million and combined net losses of approximately $235,000.

Income Taxes

Income Taxes	12 Months Ended
	Sep. 30, 2016
Income Tax Disclosure [Abstract]
Income Taxes	(11) Income Taxes Income tax expense for the years ended September 30 is as follows: 2016 2015 Current $ 10,000 $ 78,000 Deferred 1,066,466 991,631 Total $ 1,076,466 $ 1,069,631 Actual income tax expense differs from the expected tax expense (computed by applying the federal corporate tax rate of 34%), as follows: 2016 2015 Expected federal tax expense $ 1,427,272 $ 969,582 Regulatory deferred tax adjustment (141,567 ) (55,600 ) Bargain purchase tax adjustment (418,908 ) — Dividends received deduction (11,888 ) (11,433 ) State tax expense (net of federal) 190,076 175,331 Other, net 31,481 (8,249 ) Actual tax expense $ 1,076,466 $ 1,069,631 Regulatory deferred tax adjustment represents the deferred tax on the leak survey and repair costs petition that the Gas Company filed in April, 2016 with the New York Public Service Commission. In that petition the Gas Company is requesting recovery of the $349,547 and the associated income tax effects. The gain on the bargain purchase adjustment with respect to the acquisition of Pike is included in net income and is not taxable so was presented as an offset to income. The tax effects of temporary differences that result in deferred income tax assets and liabilities at September 30 are as follows: 2016 2015 Deferred income tax assets: Unbilled revenue $ 48,327 $ 57,521 Deferred compensation reserve 556,653 604,458 Post-retirement benefit obligations 2,678,585 2,246,383 Inventories 20,054 27,788 Deficiency of gas adjustment clause revenues billed — 85,262 NOL carryforwards 2,852,220 2,597,946 Other 971,815 1,285,010 Total deferred income tax assets 7,127,654 6,904,368 Deferred income tax liabilities: Property, plant and equipment, principally due to differences in depreciation 9,171,142 7,759,860 Pension benefit obligations 1,830,050 1,298,794 Comprehensive income 61,866 19,892 Deferred rate expense and allocations 379,879 365,091 Deficiency of gas adjustment clause revenues billed 138,153 — Intangibles 124,141 — Other 1,062,042 976,445 Total deferred income tax liabilities 12,767,273 10,420,082 Net deferred income tax (assets) liabilities $ 5,639,619 $ 3,515,714 The Holding Company has federal and New York State tax net operating loss carry forwards available of approximately $6.4 million as of September 30, 2016 that begin to expire at the end of the Holding Company’s fiscal 2025 tax year. The accounting rules for uncertain taxes provide for the determination of whether tax benefits claimed or expected to be claimed on a tax return should be recognized in the financial statements. The Holding Company has evaluated its tax positions and accordingly has not identified any significant uncertain tax positions. The Holding Company’s policy is to classify interest associated with uncertain tax positions as interest expense in the financial statements. Penalties are classified under other expense. The Holding Company will file a consolidated federal income tax return and the Gas Company and Pike will file separate state income tax returns in New York and Pennsylvania. The federal returns for the tax years ended September 30, 2013 and prior to September 30, 2012 are no longer subject to examination. The state returns for the tax years ended prior to September 30, 2013 are no longer subject to examination.

Pension and Other Post-retireme

Pension and Other Post-retirement Benefit Plans	12 Months Ended
	Sep. 30, 2016
Compensation and Retirement Disclosure [Abstract]
Pension and Other Post-retirement Benefit Plans	(12) Pension and Other Post-retirement Benefit Plans There are currently three covered participants related to the deferred compensation obligation that are all former officers. The liability on the consolidated balance sheet represents the present value of the future obligation. In 1997, the Gas Company established a trust (the Rabbi Trust) to fund a deferred compensation plan for certain officers. The fair market value of assets in the trust was $2,168,913 (plus $51,185 in additional stock)and $2,102,600 (plus $51,185 in additional stock) at September 30, 2016 and 2015, respectively, and the plan liability, which is labeled as deferred compensation on the balance sheet, was $1,453,782 and $1,492,488 at September 30, 2016 and 2015, respectively. The assets of the trust are available to general creditors in the event of insolvency. In 2016, the mortality assumption were based on the 2008 VBT Primary Male Smoker tables with generational improvements using scale MP-2016 for two of the covered participants which resulted in a decrease in the liabilities of approximately $24,784. In 2015, the mortality assumption was changed from the RP-2000 annuitant/non-annuitant mortality table with generational improvements using scale BB to the 2008 VBT Primary Male Smoker tables with generational improvements using scale MP-2015 for the same two covered participants which resulted in a decrease to the pension obligation of approximately $171,000. The Gas Company has defined benefit pension plans covering substantially all of its employees. The benefits are based on years of service and the employee’s highest average compensation during a specified period. The Gas Company makes annual contributions to the plans equal to amounts determined in accordance with the funding requirements of the Employee Retirement Security Act of 1974. Contributions are intended to provide for benefits attributed for service to date, and those expected to be earned in the future. In addition to the Gas Company’s defined benefit pension plans, the Gas Company offers post-retirement benefits comprised of medical and life coverage to its employees who meet certain age and service criteria. For union participants who retire on or after September 2, 1992, the Gas Company cost for post-retirement benefits is contractually limited and will not exceed $150 per month. This contract is in effect until April 2, 2018. The monthly benefit for all non-union employees, who retire between the ages of 62 and 65, will be the lesser of 40% of the retiree’s plan premium or $150. After age 65, the Gas Company pays up to $150 a month for the cost of the retiree’s supplemental plan. In addition, the Gas Company offers limited life insurance coverage to active employees and retirees. The post-retirement benefit plan is not funded. The Gas Company accrues the cost of providing post-retirement benefits during the active service period of the employee. The following table shows reconciliations of the Gas Company’s pension and post-retirement plan benefits as of September 30: Pension Benefits Post-retirement Benefits 2016 2015 2016 2015 Change in benefit obligations: Benefit obligation at beginning of year $ 19,284,602 $ 18,633,318 $ 1,295,660 $ 1,264,378 Service cost (excluding expected expenses) 351,565 337,039 19,325 20,979 Interest cost 977,868 919,156 50,423 48,673 Participant contributions — — 77,754 63,740 Actuarial loss 2,361,479 300,931 191,240 25,891 Benefits paid (947,538 ) (905,842 ) (147,926 ) (128,001 ) Curtailments — — — — Benefit obligation at end of year 22,027,976 19,284,602 1,486,476 1,295,660 Change in plan assets: Fair value of plan assets at beginning of year 13,757,839 13,675,154 — — Actual return on plan assets 1,122,982 4,126 — — Company contributions 957,516 990,897 70,172 64,261 Participant contributions — — 77,754 63,740 Benefits paid (954,141 ) (912,338 ) (147,926 ) (128,001 ) Fair value of plan assets at end of year 14,884,196 13,757,839 — — Funded status (7,143,780 ) (5,526,763 ) (1,486,476 ) (1,295,660 ) Unrecognized net actuarial loss/(gain) 5,998,607 4,403,014 150,130 (45,221 ) Unrecognized prior service cost 2,622 9,797 146,536 150,083 (Accrued) prepaid benefit cost (1,142,551 ) (1,113,952 ) (1,189,810 ) (1,190,798 ) Accrued contribution — — — — Amounts recognized in the balance sheet consists of: Prepaid (accrued) benefit liability (7,143,780 ) (5,526,763 ) (1,486,476 ) (1,295,660 ) Amounts recognized in the Balance Sheets consist of: (Accrued)/prepaid pension cost as of beginning of fiscal year (1,113,952 ) (1,366,855 ) (1,190,798 ) (1,189,761 ) Pension (cost) income (1,254,598 ) (986,115 ) (73,647 ) (70,313 ) Contributions 957,516 990,897 — — Change in receivable contribution 268,483 248,121 — — Net benefits paid — — 74,635 69,276 Change in additional minimum liability — — — — (Accrued)/prepaid pension cost as of end of fiscal year $ (1,142,551 ) $ (1,113,952 ) $ (1,189,810 ) $ (1,190,798 ) Fair value of plan assets at end of year Cash and equivalents $ 406,557 $ 175,950 — — Government and agency issues 4,227,227 2,920,406 — — Corporate bonds 2,809,435 3,691,645 — — Fixed index funds 403,756 324,804 — — Fixed income 552,373 540,732 — — Equity securities 6,484,848 6,104,302 — — $ 14,884,196 $ 13,757,839 — — The funded status of both plans totaling a deficiency of approximately $8,600,000 and $6,800,000 at September 30, 2016 and 2015, respectively, are included in deferred pension & post-retirement benefits on the consolidated balance sheets, which are offset by a pension regulatory asset of approximately $116,000 at September 2016 and a pension regulatory liability of approximately $35,000 at September 30, 2015. In accordance with ASC 715, the net actuarial loss/(gain) and unrecognized prior service cost are collectively adjusted through other comprehensive income (loss)-minimum pension liability and included in accumulated other comprehensive income in the consolidated financial statements, which are presented net of tax for fiscal 2014. In the fourth quarter of fiscal 2015 the Gas Company determined that it meets the criteria to record these items as a regulatory asset in accordance with ASC 980-715-25-5. See Note 5 to the Notes of the Consolidated Financial Statements for additional information. During the year ended September 30, 2015, the pre-tax accumulated net actuarial loss/(gain) and unrecognized prior service cost increased by $851,547 from $3,666,126 to $4,517,673. Historically, the change in these items had been recorded net of tax in the consolidated statements of changes in stockholders’ equity. During first three quarters of the year ended September 30, 2015, the Gas Company recorded $222,363 ($377,526, net of tax) through OCI for the estimated change in these items based on estimates prepared by the actuary during the year ended September 30, 2014. After removing these items from OCI and establishing the regulated asset in the fourth quarter of the year ended September 30, 2015, the remaining change of $474,021 was recorded directly as an increase to this asset. Beginning with the year ended September 30, 2016 the change in pre-tax net actuarial loss/(gain) and unrecognized prior service was recorded directly to the regulatory asset related to pension. Amortization of unrecognized net (gain)/loss for the Retirement Plan for fiscal year ending September 30, 2016: 1 Projected benefit obligation as of September 30, 2016 $ 22,027,976 2 Plan assets at September 30, 2016 (14,884,196) 3 Unrecognized (gain)/loss as of September 30, 2016 5,998,607 4 Ten percent of greater of (1) or (2) 2,202,798 5 Unamortized (gain)/loss subject to amortization - (3) minus (4) 3,795,809 6 Active future service of active plan participants expected to receive benefits 9.99 7 Minimum amortization of unamortized net (gain)/loss - (5)/(6) $ 379,961 8 Amortization of (gain)/loss for 2016-2017 $ 1,027,016 Amortization of unrecognized net (gain)/loss for the Post-Retirement Plan for the fiscal year ended September 30, 2016: Unrecognized net (gain)/loss at October 1, 2016 subject to amortization $ 150,130 Amount to be amortized 2016 - 2017 Amortization period 11 years Amortization for 2016 - 2017 ((gain)/loss divided by period) $ 13,648 Pension Benefits Post-retirement Benefits 2016 2015 2016 2015 Components of net period benefit cost (benefit): Service cost 357,565 343,039 19,325 20,979 Interest cost 977,868 919,156 50,423 48,673 Expected return on plan assets (1,028,758 ) (1,027,565 ) — — Amortization of prior service 7,175 9,406 3,547 3,547 Amortization of unrecognized actuarial loss (gain) 672,265 493,958 (4,111 ) (7,901 ) Net periodic benefit cost (benefit) 986,115 737,994 69,184 65,298 For ratemaking and financial statement purposes, pension expense represents the amount approved by the NYPSC in the Gas Company’s most recently approved rate case. Pension expense (benefit) for ratemaking and financial statement purposes was approximately $970,000 for the years ended September 30, 2016 and 2015. The difference between the pension expense (benefit) for ratemaking and financial statement purposes, and the amount computed above has been deferred as regulatory assets and are not included in the prepaid pension cost noted above. The cumulative amounts deferred equal $264,693 and $89,746 as of September 30, 2016 and 2015, respectively. The NYPSC has allowed the Gas Company to recover incremental cost associated with post-retirement benefits through rates on a current basis. Due to the timing differences between the Company’s rate case filings and financial reporting period, a regulatory receivable of $103,066 and $123,174 has been recognized at September 30, 2016 and 2015, respectively. Pension Benefits Post-retirement Benefits 2016 2015 2016 2015 Weighted average assumptions used to determine net period cost at September 30: Discount rate 4.20% 5.22% 3.25% 4.00% Salary increases 2.00% 2.00% N/A N/A Expected return on assets 7.50% 7.50% N/A N/A For the periods ended September 30, 2016 and September 30, 2015, the discount rate was prepared by utilizing an analysis of the plan’s expected future cash flows and high-quality fixed-income investments currently available and expected to be available during the period to maturity of the pension benefits. The discount rate used is an estimate of the rate at which a defined benefit pension plan could settle its obligations. Rather than using a rate and curve developed using a bond portfolio, this method selects individual bonds to match to the expected cash flows of the Plan. Management feels this provides a more accurate depiction of the true cost to the Plan to settle the obligations as the Plan could theoretically go into the marketplace and purchase the specific bonds used in the analysis in order to settle the obligations of the Plan. In 2015, the mortality assumption used is the RP-200 annuitant/non-annuitant Mortality Table for Males and Females with generational improvements projected using scale BB. In 2016, the mortality assumption was changed to the sex-distinct RP-2014 Mortality Tables with improvements projected using Scale MP-2016 on a fully generational basis. This change reduced the benefit obligation by approximately $350,000. The change in discount rate from 5.22% to 4.20% increased the benefit obligation by approximately $2.5 million. The expected returns on plan assets of the Retirement Plan and Post-Retirement Plan are applied to the market-related value of plan assets of the respective plans. For the Retirement Plan, the market-related value of assets recognizes the performance of its portfolio over five years and reduces the effects of short-term market fluctuations. The Gas Company’s Retirement Plan assets are invested by a manager that reports at least annually to the Gas Company’s Investment Committee for review and evaluation. The manager has been given the objective to achieve modest capital appreciation with a secondary objective of achieving a relatively high level of current income using a mix of cash equivalents, fixed income securities and equities to structure a balanced investment portfolio. The Investment Committee does not reserve control over investment decisions, with the exception of certain limitations, and holds the manager responsible and accountable to achieve the stated objectives. The market-related value of Post-Retirement Plan assets is set equal to market value. For measurement purposes, a 6% annual rate of increase in the per capita cost of covered benefits (health care cost trend rate) was assumed for 2016. The rate is assumed to increase by 6% each year thereafter. A 1% increase in the actual health care cost trend would result in approximately a 3.9% increase in the service and interest cost components of the annual net periodic post-retirement benefit cost and a 5.7% increase in the accumulated post-retirement benefit obligation. A 1% decrease in the actual health care cost trend would result in approximately a 3.2% decrease in the service and interest cost components of the annual net periodic post-retirement benefit cost and a 4.8% decrease in the accumulated post-retirement benefit obligation. The Gas Company expects to contribute $1,183,628 to the Retirement Plan during the year ended September 30, 2017. The estimated pension plan benefit payments are as follows: 2017 $ 1,162,055 2018 $ 1,183,273 2019 $ 1,248,018 2020 $ 1,358,644 2021 $ 1,410,391 2022+ $ 7,215,801 The Gas Company also maintains the Corning Natural Gas Corporation Employee Savings Plan (the “Savings Plan”). All employees of the Gas Company who work for more than 1,000 hours per year and who have completed one year of service may enroll in the Savings Plan at the beginning of each calendar quarter. Under the Savings Plan, participants may contribute up to 50% of their wages. For all employees, the Gas Company will match one-half of the participant’s contribution up to a total of 50% of the participant’s contribution up to a total of 6% of the participant’s wages. The plan is subject to the federal limitation. The Gas Company contribution to the plan was $87,595 in 2016 and $87,456 in 2015.

Acquisition of Pike County Ligh

Acquisition of Pike County Light & Power Company	12 Months Ended
	Sep. 30, 2016
Business Combinations [Abstract]
Acquisition of Pike County Light & Power Company	(13) Acquisition of Pike County Light & Power Company As previously reported, on October 13, 2015, the Holding Company entered into a Stock Purchase Agreement with O&R for the purchase of all of the outstanding capital stock of Pike, a Pennsylvania corporation operating as a regulated electric and gas utility serving approximately 5,800 customers in Pike County, Pennsylvania. The purchase price for the stock of Pike was $13.1 million, with an initial closing date working capital adjustment of $2.5 million which was adjusted to $1.97 million for the final working capital adjustment, subsequent to year end, and the approximately $530,000 is included in Acquisition receivable on the consolidated balance sheet and assumption of $3.2 million in Pike’s outstanding bonds and closed on August 31, 2016. In addition, O&R agreed to provide transition assistance pursuant to a Transition Services Agreement (“TSA”), and to continue to supply electric power and gas to Pike County pursuant to Electric and Gas Supply Agreements (“ESA” and “GSA”). The Gas and Electric Supply Agreements are each for a term of 36 months, with up to three 12-month renewal terms. The acquisition of Pike was financed in part by financing from M&T Bank, including a $12 million term loan, a $2 million line of credit, one or more letters of credit with a limit of up to $2.5 million and an initial amount of $2.1 million, issued to O&R as collateral security for the obligations of Pike under the TSA, the GSA and the ESA. The debt is guaranteed by Corning Holding. There also was $3,616,924 paid in cash. Immediately after the closing, Corning Holding caused Pike to issue a notice of redemption to the holders of its $3.2 million in bonds, to repurchase the bonds at 100.372% of their principal amount effective October 2, 2016. The consolidated balance sheet reflects the identification by the Company of the fair value of identifiable tangible and intangible assets and liabilities acquired. The excess of net value over the purchase price was recorded as other income in fiscal 2016 as a bargain purchase of $1,306,007. The current receivable of approximately $725,000 recognized as “Acquisition receivable” on the consolidated balance sheet, is mainly attributable to a working capital adjustment of approximately $530,000 that was received by Pike in October 2016 and additional cash payment from the acquisition not received until October 2016. The trade name valued at $311,000, the acquired intangible assets, will be amortized over five years and is included in “Other assets” on the consolidated balance sheet. The following table summarizes the fair value of assets acquired and liabilities assumed: Cash 306,740 Customer accounts receivable 1,349,183 Acquisition receivable 194,619 Current assets 414,044 Property and equipment 18,754,174 Other assets 744,345 Acquired intangibles: Trade name 311,000 Total fair value of assets acquired 22,074,105 Current liabilities assumed (1,372,147 ) Bond assumed (3,200,000 ) Other liabilities assumed (218,744 ) Net liabilities assumed (4,790,891 ) Net assets acquired 17,283,214 Cash consideration (15,086,989 ) Gain before deferred tax benefit 2,196,225 Income tax benefit - deferred (964,143 ) Gain on bargain purchase $ 1,232,082 The business combination was accounted for under the acquisition method of accounting in accordance with ASC Topic 805, Business Combinations. As an acquirer for accounting purposes, the Company has estimated the fair value of Pike’s assets and liabilities assumed and ensured that the accounting policies of Pike were consistent with that of the Company. ASC requires that when fair value of the net assets acquired exceeds the purchase price, resulting in a bargain purchase of assets, the acquirer must reassess the reasonableness of the values assigned to all of the net assets acquired, liabilities assumed and consideration transferred. The Company performed such assessment and concluded that the values assigned for the acquisition were reasonable. In the case of the acquisition of Pike, many factors contributed to a bargain purchase. O & R primarily operates in New York and New Jersey, and having an operation in Pennsylvania created numerous additional operating costs given its differing jurisdiction. Additionally, Pike represented approximately 6,000 customers as compared to O & R’s overall customer base of over 100,000. Thus, the incremental operating costs were not economically viable for O & R. Another factor contributing to the bargain purchase is that the market for utility companies the size of Pike is relatively small, which resulted in a limited number of bidders. The bargain purchase gain will reduce the tax basis of the assets acquired, resulting in a deferred tax liability of $964,143 in connection with the acquisition accounting. Pro forma unaudited condensed consolidated financial information for the years ended September 30, 2016 and September 30, 2015 give effect as if the acquisition occurred on October 1 of the respective year: Fiscal Year Ended (Unaudited) September 30, 2016 September 30, 2015 Revenue $ 28,202,000 $ 33,721,000 Net income $ 4,350,000 $ 3,517,000 Net income per share $ 1.74 $ 1.34 The combined proforma financial information does not reflect the realization of any expected cost savings or other synergies from the acquisition of Pike as a result of restructuring activities, other cost savings initiatives or sales synergies following the completion of the business combination.

Segment Reporting

Segment Reporting	12 Months Ended
	Sep. 30, 2016
Segment Reporting [Abstract]
Segment Reporting	(14) Segment Reporting The Company’s reportable segments have been determined based upon the nature of the products and services offered, customer base, availability of discrete internal financial information, homogeneity of products, delivery channel and other factors. The Corning Natural Gas Corporation (the “Gas Company”) is a gas distribution company providing gas on a commodity and transportation basis to its customers in the Southern Tier of New York State. Pike County Light & Power Company (“Pike”) provides electricity and natural gas to Pike County, Pennsylvania. The Holding Company is the parent company of all subsidiaries and has a 50% ownership in the Leatherstocking joint ventures. Corning Natural Gas Appliance Corporation’s (the “Appliance Company”) information is presented with the Holding Company as it is has little activity. The following table reflects the results of the segments consistent with the Holding Company’s internal financial reporting process. The following results are used in part, by management, both in evaluating the performance of, and in allocating resources to, each of the segments. Gas Company Pike Holding Company Total Consolidated Total electric utility revenue $ 0 $ 620,637 $ 0 $ 620,637 Total gas utility revenue $ 19,051,661 $ 36,948 $ 0 $ 19,088,609 Bargain purchase adjustment (1) $ 0 $ 1,232,082 $ 0 $ 1,232,082 Investment income $ 102,524 $ 0 $ 0 $ 102,524 Equity investment (loss) $ 0 $ 0 ($ 59,670 ) ($ 59,670 ) Net income (loss) $ 2,003,556 $ 1,179,102 ($ 61,264 ) $ 3,121,394 Income tax expense (benefit) $ 1,140,527 ($ 26,408 ) ($ 37,653 ) $ 1,076,466 Interest expense $ 865,391 $ 35,625 $ 2,291 $ 903,307 Depreciation expense $ 1,703,190 $ 54,414 $ 0 $ 1,757,604 Amortization expense $ 424,744 $ 16,047 $ 0 $ 440,791 Total assets $ 76,173,336 $ 27,340,379 $ 3,490,759 $ 107,004,474 Capital expenditures $ 7,224,955 $ 280,000 $ 0 $ 7,504,955 (1) This is a one-time transaction resulting from the acquisition of Pike. Prior to the acquisition of Pike County Light & Power Company, Management viewed the Company as one segment.

Stock Options

Stock Options	12 Months Ended
	Sep. 30, 2016
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]
Stock Options	(15) Stock Options A summary of all stock option activity and information related to all options outstanding follows: 2015 Stock Options Number of Weighted Average Shares Average Remaining Remaining Exercise Contractual Options Price Term Outstanding at October 1, 2014 13,500 $12.83 Options granted - Options exercised during year ended September 30, 2015 1,500 $12.83 Options expired during year ended September 30, 2015 - Outstanding at September 30, 2015 12,000 $12.83 .25 years Exercisable at September 30, 2015 12,000 $12.83 .25 years 2016 Stock Options Number of Weighted Average Shares Average Remaining Remaining Exercise Contractual Options Price Term Outstanding at October 1, 2015 12,000 $12.83 Options granted - Options exercised during year ended September 30, 2016 9,000 $12.83 Options expired during year ended September 30, 2016 3,000 $12.83 Outstanding at September 30, 2016 - $0.00 Exercisable at September 30, 2016 - $0.00 There is no unrecognized cost related to options at September 30, 2016 because all options have fully vested.

Commitments

Commitments	12 Months Ended
	Sep. 30, 2016
Commitments and Contingencies Disclosure [Abstract]
Commitments	(16) Commitments The Gas Company is a local distribution company and has contracted for gas supply from various sources to provide the commodity to the city gates. The city gate is the transfer point at which we take ownership of the gas supply from local producers and interstate pipelines and billing metering starts. The Gas Company maintains storage capacity of approximately 736,000 Dekatherms. Prior to April 2014, the Gas Company contracted with a third-party to manage its gas supply and storage. Starting in April 2014, the Gas Company assumed responsibility for managing its gas supply assets. At September 30, 2016, the Gas Company had 565,014 dekatherms at $903,007 in storage. As the result of these actions, we anticipate that the Gas Company will have sufficient gas to supply our customers for the 2016-2017 winter heating season. The contract with O&R should provide sufficient electricity and natural gas to supply Pike for the 2016-2017 winter heating and summer cooling. The Gas Company has secured the NYPSC required fixed price and storage gas supply for the winter season and is managing its gas storage and gas contracts to assure that the Gas Company follows its gas supply and acquisition plan. The gas supply plan is a formal document that defines how we acquire natural gas to supply our customers. The plan is submitted to the NYPSC every year and adherence to the plan is a regulatory mandate. Assuming no extraordinary conditions for the winter season, gas supply, both flowing and storage, will be adequate to serve our approximately 14,800 customers. Environmental Considerations: The Gas Company and Pike are subject to various federal, state and local environments laws and regulations. The Gas Company has established procedures for the ongoing evaluation of its operations to identify potential environmental exposures and assure compliance with regulatory policies and procedures. Management is currently putting procedures in place to do the same at Pike. Management believes the Gas Company and Pike are in compliance with all applicable regulations.

Related Party Transactions

Related Party Transactions	12 Months Ended
	Sep. 30, 2016
Related Party Transactions [Abstract]
Related Party Transactions	(17) Related Party Transactions Related party receivables are expenditures paid on behalf of the Holding Company’s joint venture investments. There were costs incurred in fiscal year 2016 of $67,270 with approximately $9,900 due for shares sold to Leatherstocking Gas for director services. A total of $420,000 was paid in fiscal year 2016 and we expect repayment on the balance during the year ended September 30, 2017.

Subsequent Events

Subsequent Events	12 Months Ended
	Sep. 30, 2016
Subsequent Events [Abstract]
Subsequent Events	(18) Subsequent Events On August 31, 2016, the Holding Company’s newly acquired, wholly-owned subsidiary Pike had outstanding $3.2 million in outstanding First Mortgage Bonds, 7.07% Series C Due 2018 (the “Pike Bonds”) issued pursuant to the Indenture of Mortgage and Deed of Trust, between Pike and Deutsche Bank as trustee (as successor to Bankers Trust Company) (the “Trustee”), as amended by the First Supplemental Indenture, dated as of August 15, 1990 and the Second Supplemental Indenture, dated as of October 1, 1998 (collectively, the “Indenture”). The Pike Bonds were repaid on October 3, 2016. The Gas Company entered into an additional $4.2 million Multiple Disbursement Term Note with M&T Bank on August 31, 2016 which permits draws from time to time in accordance with its terms until December 31, 2016. The first draw on this note was $3.0 million on October 5, 2016.

Summary of Significant Accoun27

Summary of Significant Accounting Policies (Policies)	12 Months Ended
	Sep. 30, 2016
Accounting Policies [Abstract]
Principles of Consolidation and Presentation	(a) Principles of Consolidation and Presentation The consolidated financial statements include the Holding Company and its wholly owned subsidiaries, Corning Gas, Pike and Appliance Company. All intercompany accounts and balances have been eliminated. It is the Company’s policy to reclassify amounts in the prior year financial statements to conform to the current year presentation.
Property, Plant and Equipment	(b) Property, Plant and Equipment Property, plant and equipment are stated at the historical cost of construction or acquisition. These costs include payroll, fringe benefits, materials and supplies and transportation costs. The Company charges normal repairs to maintenance expense.
Depreciation	(c) Depreciation The Company provides for depreciation for accounting purposes using a straight-line method based on the estimated economic lives of property and equipment as determined by the current rate plan based on the latest depreciation study. The depreciation rate used for Corning Gas utility plant, expressed as an annual percentage of depreciable property was 1.7% and 2.2% for of the years ended September 30, 2016 and 2015, respectively. The NYPSC allows the Gas Company recovery in revenues to offset costs of building certain projects. At the time utility properties are retired, the original cost plus costs of removal less any salvage are charged to accumulated depreciation. The depreciation rate for one month for Pike utility plant was 0.3%. The annualized percentage would be 3.5%. Pike also charges the original cost plus costs of removal less any salvage to accumulated depreciation.
Accounting for Impairment	(d) Accounting for Impairment FASB ASC 360-10-15, “Accounting for the Impairment or Disposal of Long-Lived Assets” establishes accounting standards to account for the impairment of long-lived assets, and certain identifiable intangibles. Under FASB ASC 360-10-15, the Company reviews assets for impairment whenever events or changes in circumstances indicate that the carrying amount may not be recoverable. FASB ASC 360-10-15 also requires that a rate regulated enterprise recognize an impairment when regulatory assets are no longer probable of recovery. No impairment losses were incurred for the years ended September 30, 2016 and 2015.
Marketable Securities	(e) Marketable Securities Marketable securities, which are intended to fund the Gas Company’s deferred compensation plan obligations, are classified as available for sale. Such securities are reported at fair value based on quoted market prices, with unrealized gains and losses, net of the related income tax effect, excluded from income, and reported as a component of accumulated other comprehensive income in stockholders’ equity until realized. The cost of securities sold was determined using the specific identification method. For all investments in the unrealized loss position, none have been in an unrealized loss position for more than 12 months. None are other than temporary impairments based on management’s analysis of available market research. In 2016 and 2015, the Gas Company sold equity securities for realized gains included in earnings of $62,994 and $88,028, respectively.
Fair Value of Financial Instruments	(f) Fair Value of Financial Instruments The Company has determined the fair value of debt and other financial instruments using a valuation hierarchy. The hierarchy, which prioritizes the inputs used in measuring fair value, consists of three levels. Level 1 uses observable inputs such as quoted prices in active markets; Level 2 uses inputs other than quoted prices in active markets that are either directly or indirectly observable; and Level 3, which is defined as unobservable inputs in which little or no market data exists, requires the Company to develop its own assumptions. The carrying amount of debt on the Consolidated Balance Sheets approximates fair value as a result of instruments bearing interest rates that approximate current market rates for similar instruments, and the carrying amounts for cash, accounts receivable and accounts payable approximate fair value due to their short-term nature. The assets used to fund the pension plan and marketable securities, which fund the Gas Company’s deferred compensation plan, are valued based on Level 1 inputs. The Company has determined the fair value of certain assets through application of FASB ASC 820 “Fair Value Measurements and Disclosures”. Fair value of assets and liabilities measured on a recurring basis at September 30, 2016 and 2015 are as follows: Fair Value Measurements at Reporting Date Using: Fair Value Quoted Prices In Active Markets for Identical Assets/Liabilities (Level 1) Level 2 Level 3 September 30, 2016 Available-for-sale securities $2,220,098 $2,220,098 $- $- September 30, 2015 Available-for-sale securities $2,153,785 $2,153,785 $- $- Financial assets and liabilities valued using level 1 inputs are based on unadjusted quoted market prices within active markets. The pension assets in Note 11 are valued using level 1 inputs.
Cash and Cash Equivalents	(g) Cash and Cash Equivalents Cash and cash equivalents include time deposits, certificates of deposit, and all highly liquid debt instruments with original maturities of three months or less. Cash and cash equivalents at financial institutions may periodically exceed federally insured limits.
Accounts Receivable	(h) Accounts Receivable Accounts receivable are stated net of an allowance for doubtful accounts. The Company estimates the allowance based on its analysis of specific balances, taking into consideration the age of past due accounts and relying on rules and guidelines established by the NYPSC and PAPUC regarding customer disconnects. Under the terms of the Transitional Service Agreement (“TSA”) signed as part of the Pike acquisition from Orange & Rockland Utilities, Inc. (“O&R”), O&R will continue to bill Pike customers for up to twelve months after closing. Pike accrues for unbilled revenue monthly for customer meters read in the current month and not billed until the next month. The unbilled revenues are recognized as an unbilled revenue asset, separate from customer accounts receivable on the Company’s Consolidated Balance Sheet. Related party receivables are expenditures paid on behalf of the Holding Company’s Joint Venture investments. We expect repayment on these amounts during the year ended September 30, 2017.
Gas Stored Underground	(l) Gas Stored Underground Gas stored underground is carried at an average unit cost method as prescribed by the NYPSC. Pike does not have any gas storage.
Materials and Supplies Inventories	(j) Materials and Supplies Inventories Materials and supplies inventories are stated at the lower of cost or market, cost being determined on an average unit price basis.
Debt Issuance Costs	(k) Debt Issuance Costs Costs associated with the issuance of debt by the Company are deferred and amortized over the lives of the related debt.
Regulatory Matters	(l) Regulatory Matters Certain costs of the Company are deferred and recognized as expenses when they are reflected in rates and recovered from customers as permitted by FASB ASC 980. These costs are shown as regulatory assets. Such costs arise from the traditional cost-of-service rate setting approach whereby all prudently incurred costs are generally recoverable through rates. Deferral of these costs is appropriate while the Company’s rates are regulated under a cost-of-service approach of the NYPSC and PAPUC for utilities. As regulated utilities, the Gas Company and Pike defer certain costs for future recovery. In a purely competitive environment, such costs might have been currently expensed. Accordingly, if the Company’s rate settings were changed from a cost-of-service approach and the Gas Company and Pike were no longer allowed to defer these costs under FASB ASC 980, certain of these assets might not be fully recoverable. However, the Company cannot predict the impact, if any, of competition and continues to operate in a cost-of-service based regulatory environment. Accordingly, the Company believes that accounting under FASB ASC 980 is appropriate .
Revenue and Cost of Sales	(m) Revenue and Cost of Sales The Gas Company records revenues from residential and commercial customers based on meters read on a cyclical basis throughout each month, while certain large industrial and utility customers’ meters are read at the end of each month. Several meters are read at the end of each month to calculate local production revenues. The Gas Company does not accrue revenue for gas delivered but not yet billed, as the NYPSC requires that such accounting must be adopted during a rate proceeding, which the Gas Company has not done. The Gas Company, as part of its currently effective rate plan, has a weather normalization clause as protection against severe weather fluctuations. This affects space heating customers and is activated when degree days are 2.2% greater or less than the 30-year average. As a result, the effect on revenue fluctuations of weather related gas sales is somewhat moderated. Pike recognizes revenues for electric and gas service on a monthly billing cycle basis. Pike does accrue for gas and electricity delivered. Pike does not have a weather normalization clause as protection against severe weather. In addition to weather normalization, starting in September 2009, the Gas Company implemented a revenue decoupling mechanism (RDM). The RDM reconciles actual delivery service revenues to allowed delivery service revenues (which are based on the annual customer and volume forecasts in the last rate case) for certain residential customers. The Gas Company will refund or surcharge customers for differences between actual and allowed revenues. The shortfall or excess after the annual reconciliation will be surcharged or refunded to customers over a twelve month period starting September 1 st Gas purchases are recorded on readings of suppliers’ meters as of the end of each month. The Gas Company’s and Pike’s rate tariffs include a Gas Adjustment Clause (“GAC”) or Gas Rate Clause (“GRC”) which adjusts rates to reflect changes in gas costs from levels established in the rate setting process. In order to match such costs and revenue, the NYPSC and PAPUC have provided for an annual reconciliation of recoverable GAC and GRC costs with applicable revenue billed. Any excess or deficiency in GAC and GRC revenue billed is deferred and the balance at the reconciliation date is either refunded to or recovered from customers over a subsequent twelve-month period. As part of its rate structure for electric sales, Pike is required to file quarterly a Statement of Default Services Charges. The Default Service Charges are separated into two components: (1) the Market Price of Electric Supply which is based on the forecast of electric supply costs applied to service classification-specific factors to reflect each service classification’s load characteristics, forecast sales and applicable losses, and (2) an Electric Supply Adjustment Charge to reconcile differences between default service revenues and costs. The new electric rates go into effect on the first day of the month after the filing is accepted.
Federal Income Tax	(n) Federal Income Tax The Company uses the asset and liability method to establish deferred tax assets and liabilities for the temporary differences between the financial reporting basis and the tax basis of the Holding Company’s assets and liabilities at enacted tax rates expected to be in effect when such amounts are realized or settled. In addition, such deferred tax assets and liabilities will be adjusted for the effects of enacted changes in tax laws and rates.
Revenue Taxes	(o) Revenue Taxes The Gas Company collects state revenue taxes on residential delivery rates. The amount included in Revenue and Taxes other than Federal Income Taxes was $158,893 and $175,294 in 2016 and 2015, respectively. Pike collects state revenue taxes on residential electric delivery rates. The amounts included in the financial statements were immaterial for one month of activity.
Stock Based Compensation	(p) Stock Based Compensation The Holding Company accounts for stock based awards in accordance with FASB ASC 718. The Holding Company awards restricted shares as compensation to our directors. The shares awarded become unrestricted upon a director leaving the board. Directors who also serve as officers of Corning Gas are not compensated for their service as directors. Since these shares are restricted, in recording compensation expense, the expense incurred is 25% less than the closing price of the stock on the day the stock was awarded. Each director is awarded 375 shares for each quarter served.
Earnings Per Share	(q) Earnings Per Share Basic earnings per share are computed by dividing income available for common stock (net income less dividends declared on Series B Preferred Stock) by the weighted average number of common shares outstanding for the period. Diluted earnings per share reflect the potential dilution that could occur if securities or other contracts to issue common stock were exercised or converted into common stock. For the fiscal years 2016 and 2015, the net additional common stock equivalents had a $0.02 and $0.00 per share effect on the calculation of the dilutive earnings per share. The net income and average shares outstanding used to compute basic and diluted earnings per share for the years ended September 30, 2016 and September 30, 2015 are as follows: 2016 2015 Net income attributable to common shareholders $ 3,058,618 $ 1,782,081 Add Preferred B Dividends 62,776 — Net income $ 3,121,394 $ 1,782,081 Average shares outstanding - basic 2,470,171 2,440,932 Effect of dilutive stock options — 4,002 Effect of Preferred B Shares 81,421 — Average shares outstanding - diluted 2,551,592 2,444,934
311 Transportation Agreement/Compressor Station	(r) 311 Transportation Agreement /Compressor Station On January 11, 2010, the Gas Company entered into a contract (311 Transportation Agreement) with a local gas producer that provided for the building of a compressor station as well as the transfer of a 6” pipeline owned by the gas producer to the Company for nominal consideration. The contract also sets forth the terms, rates and condition of the transport of the local producer gas to the interstate pipeline system. On May 21, 2010, the 311 Transportation Agreement was revised to reflect a change in the projected gas delivery schedule and delivery volumes. The previously agreed to transportation rates did not change. The contract’s maximum daily delivery quantity remained the same. The schedule for attaining the maximum daily delivery quantity was altered to accommodate the project’s construction schedule. The Gas Company bought the $11 million compressor station and $2.1 million pipeline from the local producer for two dollars. The local producer has the right to repurchase these facilities for two dollars in ten years. This transaction became effective on May 12, 2011, when the station began operations. Although the Gas Company has plant available for use that had an original cost of $13.1 million, only two dollars was recognized in accordance with the Uniform System of Accounts (313.2) which states that in the case of gas plant contributed to the utility, gas plant accounts shall be charged only with such expenses, if any, incurred by the utility.
Collective Bargaining Agreement	(s) Collective Bargaining Agreement The Company had 59 employees as of September 30, 2016, and 58 as of September 30, 2015. Of this total, nearly half are members of the International Brotherhood of Electrical Workers Local 139 labor union working under an agreement effective until April 2, 2018.
Leatherstocking Companies	(t) Leatherstocking Companies The Holding Company has a 50% investment in Leatherstocking Gas Company, LLC (“Leatherstocking Gas”) and Leatherstocking Pipeline Company, LLC (“Leatherstocking Pipeline”). The investment and equity in both companies (collectively, “Joint Ventures”) has been recognized in the consolidated financial statements. The Holding Company has accounted for its equity investment using the equity method of accounting based on the guidelines established in FASB ASC 323. In applying the guidance of FASB ASC 323, the Holding Company recognized the investment in the Joint Ventures as an asset at cost. The investment will fluctuate in future periods based on the Holding Company’s allocable share of earnings or losses from the Joint Ventures which is recognized through earnings.
Business Combination	(u) Business Combination The Company applies the acquisition method of accounting for business acquisitions. Under the acquisition method, the underlying tangible and intangible assets acquired and liabilities assumed are recorded based on their respective fair values at the date of acquisition. The Company uses a valuation hierarchy, as further described in Fair Value of Financial Instruments, to determine the fair values. Fair Value is subject to revision within the measurement period, not to exceed one year from the date of acquisition. Administration costs to acquire a business may include, but are not limited to, fees for accounting, legal and valuation services and are expensed as incurred in the Consolidated Statements of Comprehensive Income. In the case of the acquisition of Pike, many factors contributed to a bargain purchase. O & R primarily operates in New York and New Jersey, and having an operation in Pennsylvania created numerous additional operating costs given its differing jurisdiction. Additionally, Pike represented approximately 6,000 customers as compared to O & R’s overall customer base of over 100,000. Thus, the incremental operating costs were not economically viable for O & R. Another factor contributing to the bargain purchase is that the market for utility companies the size of Pike is relatively small, which resulted in a limited number of bidders.
Preferred Stock and Temporary Equity	(v) Preferred Stock and Temporary Equity This is a new accounting policy effective for fiscal 2016. The Holding Company classifies conditionally redeemable convertible preferred shares, which includes preferred shares subject to redemption upon the occurrence of uncertain events not solely within control of the Holding Company, as temporary equity in the mezzanine section of the balance sheet, in accordance with the guidance enumerated in FASB ASC No. 480-10 "Distinguishing Liabilities from Equity". The Company also analyzes the embedded conversion feature for bifurcation, based on whether the host instrument has more equity-like or debt-like characteristics. Dividends are recorded as a reduction to retained earnings and issuance costs reduce the initial proceeds and then accreted over the life of the instrument to the redemption amount. The Holding Company records mandatorily redeemable stock as a liability in accordance with ASC 480. Dividends are recorded as interest expense and issuance costs are treated the same way as debt issuance costs.
New Accounting Pronouncements Not Yet Adopted	(w) New Accounting Pronouncements Not Yet Adopted In May 2014, the Financial Accounting Standards Board (“FASB”) issued new accounting guidance on revenue from contracts with customers. The new guidance requires an entity to recognize the amount of revenue to which it expects to be entitled for the transfer of promised goods and services to customers. The updated guidance will replace most existing revenue recognition guidance in GAAP when it becomes effective. This guidance is effective for fiscal years, and interim periods within those fiscal years, beginning after December 15, 2017. We are currently evaluating the effect the updated standard will have on our consolidated financial statements and related disclosures but do not expect the adoption to have a material impact. In April 2015, the FASB issued new accounting guidance on the presentation of debt issuance costs. The new guidance requires that debt issuance costs related to a note be presented as a direct deduction from that note. This guidance is effective for financial statements issued for fiscal years beginning after December 15, 2015 and interim periods within those fiscal years. The debt issuance costs will be reclassified to liabilities on the balance sheet. The amount as of September 30, 2016 is $412,316. In July 2015, the FASB issued new accounting guidance simplifying inventory measurement by requiring companies to value inventory at the lower of cost or net realizable value. This guidance is effective for financial statements issued for fiscal years beginning after December 15, 2016 and interim periods within those fiscal years. We do not believe this guidance will have a material effect on our consolidated financial statements when adopted. In September 2015, the FASB issued new accounting guidance on the recognition by the acquiring entity of adjustment to provisional amounts during the measurement period. The new guidance requires the adjustments that are identified to be recognized in the same period’s financial statements in which the adjustment amounts are determined. The entity must also present separately on the face of the income statement, or disclose separately in the notes, the portion of the amount recorded in the current-period earnings by line item that would have been recorded in previous periods if the adjustment had been identified as of the acquisition date. This guidance is effective for financial statements issued for fiscal years beginning after December 15, 2015 and interim periods within those fiscal years. We are still evaluating whether this guidance will have a material effect on our consolidated financial statements when adopted. In January 2016, the FASB issued new accounting guidance on the recognition and measurement of financial assets and financial liabilities. The new guidance requires for equity investments (except those accounted for under the equity method of accounting or those that request in consolidation of the investee) to be measured at fair value with changes in fair value recognized in net income. This guidance is effective for financial statements issued for fiscal years beginning after December 15, 2017 and interim periods within those fiscal years. Early application is not permitted. We are still evaluating whether this guidance will have a material effect on our consolidated financial statements when adopted. In March 2016, the FASB issued new accounting guidance on investments that qualify for use of the equity method of accounting. The new guidance eliminates the need for retroactive adjustments when qualifying for the equity method. This guidance is effective for financial statements issued for fiscal years beginning after December 15, 2016 and interim periods within those fiscal years. We do not believe this guidance will have a material effect on our consolidated financial statements when adopted. In March 2016, the FASB issued new guidance regarding share-based payment transactions, including income tax consequence, classification of awards and classification on the statement of cash flows. This guidance is effective for financial statements issued for fiscal years beginning after December 15, 2016 and interim periods within those fiscal years. We are still evaluating whether this guidance will have a material effect on our consolidated financial statements when adopted. Early Adoption of New Accounting Guidance In November 2015, the FASB issued new accounting guidance on the classification of deferred taxes. The new guidance requires that all deferred tax assets and liabilities be classified as noncurrent in a classified statement of financial position. This guidance is effective for financial statements issued for fiscal years beginning after December 15, 2016 and interim periods within those fiscal years. Early application is permitted. When the guidance is effective all deferred tax assets and liabilities will be presented as noncurrent. We have chosen to apply the guidance retroactively. As a result, as of September 30, 2015, we have reclassified a deferred tax liability of $385,973 from short-term to long-term. As of September 30, 2016, we have reclassified a deferred tax liability of $471,764 from short-term to long-term.

Summary of Significant Accoun28

Summary of Significant Accounting Policies (Tables)	12 Months Ended
	Sep. 30, 2016
Accounting Policies [Abstract]
Schedule of Fair Value of Assets and Liabilities Measured on a Recurring Basis	Fair Value Measurements at Reporting Date Using: Fair Value Quoted Prices In Active Markets for Identical Assets/Liabilities (Level 1) Level 2 Level 3 September 30, 2016 Available-for-sale securities $2,220,098 $2,220,098 $- $- September 30, 2015 Available-for-sale securities $2,153,785 $2,153,785 $- $-
Schedule of Basic and Diluted Earnings Per Share	2016 2015 Net income attributable to common shareholders $ 3,058,618 $ 1,782,081 Add Preferred B Dividends 62,776 — Net income $ 3,121,394 $ 1,782,081 Average shares outstanding - basic 2,470,171 2,440,932 Effect of dilutive stock options — 4,002 Effect of Preferred B Shares 81,421 — Average shares outstanding - diluted 2,551,592 2,444,934

Property, Plant and Equipment (

Property, Plant and Equipment (Tables)	12 Months Ended
	Sep. 30, 2016
Plant:
Schedule of Fixed Assets Included in Utility Plant	2016 2015 Utility Plant $ 26,617,766 $ 21,641,078 Poles & Line 10,618,080 0 Pipeline 44,440,597 39,939,110 Structures 7,158,817 5,119,970 Land 1,709,977 696,067 Construction Work in Progress 3,809,312 1,390,017 All Other 6,195,672 5,510,932 $ 100,550,221 $ 74,297,174

Marketable Securities (Tables)

Marketable Securities (Tables)	12 Months Ended
	Sep. 30, 2016
Investments, Debt and Equity Securities [Abstract]
Summary of Marketable Securities	Cost Basis Unrealized Gain Unrealized Loss Market Value 2016 Cash and equivalents $ 53,408 — — 53,408 Metlife stock value 51,185 — — 51,185 Government and agency bonds 392,969 4,859 — 397,828 Corporate bonds 283,655 — 2,983 280,672 Mutual funds 43,624 — 4,206 39,418 Corning Preferred A Stock 197,875 — — 197,875 Equity securities 1,035,809 163,903 — 1,199,712 Total securities $ 2,058,525 $ 168,762 $ 7,189 $ 2,220,098 2015 Cash and equivalents $ 41,500 — — 41,500 Metlife stock value 51,185 — — 51,185 Government and agency bonds 301,673 1,763 — 303,436 Corporate bonds 337,757 — 3,973 333,784 Mutual funds 79,515 — 8,555 70,960 Equity securities 1,293,039 59,881 1,352,920 Total securities $ 2,104,669 $ 61,644 $ 12,528 $ 2,153,785

Regulatory Matters (Tables)

Regulatory Matters (Tables)	12 Months Ended
	Sep. 30, 2016
Regulated Operations [Abstract]
Schedule of Regulatory Assets	2016 2015 Unrecovered gas costs $ 718,705 $ 37,191 Deferred regulatory costs 3,596,302 2,751,339 Deferred pension costs 6,297,895 4,517,673 Total regulatory assets $ 10,612,902 $ 7,306,203
Schedule of Regulatory Costs	2016 2015 Deferred rate case costs $ 992,108 $ 897,942 Deferred rate case reconciliations 2,604,194 1,853,397 Total $ 3,596,302 $ 2,751,339

Long-term Debt (Tables)

Long-term Debt (Tables)	12 Months Ended
	Sep. 30, 2016
Debt Disclosure [Abstract]
Schedule of Long Term Debt	2016 2015 Note payable - variable rate with 4.5% floor with monthly installments through May 2020 — 501,931 Note Payable - 5.79% with monthly installments through August 2018 — 451,323 Note Payable - variable rate with 4.25% floor, monthly installments through November 2016 — 1,313,318 Note Payable - variable rate with 3.75% floor, monthly installments through November 2017 — 1,847,391 Note Payable - 4.46% with monthly installments through July 2017, then refinanced at new rate — 184,654 Note Payable - 4.46% with monthly installments through July 2017, then refinanced at new rate — 184,651 Note Payable - 4.2% with monthly installments through November 2018 — 2,950,113 Note Payable - 4.51% with monthly installments through September 2018 — 1,831,886 Note Payable - 4.18% with monthly installments through November 2018 — 1,972,221 Note Payable - 4.39% with monthly installments through November 2019 — 3,540,206 Note Payable - 4.49% with monthly installments through July 2019 — 552,853 M&T Bank - vehicle loans bearing interest at rates ranging from 4.37% to 5% 53,937 146,983 Note Payable - variable calculated quarterly with monthly Installments through January 2022 17,400,000 — Note Payable - variable calculated quarterly with monthly Installments through January 2021 4,200,000 — Bond Payable - 7.07% paid semi-annually with principal due October 2018 3,200,000 — Note Payable - variable calculated quarterly with monthly Installments through August 2021 12,000,000 — Total long-term debt $ 36,853,937 $ 15,477,530 Less current installments 5,558,156 2,923,133 Long-term debt less current installments $ 31,295,781 $ 12,554,397
Schedule of Long-Term Debt Maturities	2017 $ 5,558,156 2018 $ 3,745,604 2019 $ 3,812,603 2020 $ 3,894,393 2021 $ 12,055,575 2022+ $ 7,787,606

Investment in Joint Ventures (T

Investment in Joint Ventures (Tables)	12 Months Ended
	Sep. 30, 2016
Equity Method Investments and Joint Ventures [Abstract]
Schedule of investment in joint ventures	2016 2015 Beginning balance in investment in joint ventures $ 2,293,252 $ 1,280,757 Investment in joint ventures during year 350,000 1,130,000 (Loss) in joint ventures during year (59,670 ) (117,505 ) Ending balance in joint ventures $ 2,583,582 $ 2,293,252

Income Taxes (Tables)

Income Taxes (Tables)	12 Months Ended
	Sep. 30, 2016
Income Tax Disclosure [Abstract]
Schedule of Income Tax Expense	Income tax expense for the years ended September 30 is as follows: 2016 2015 Current $ 10,000 $ 78,000 Deferred 1,066,466 991,631 Total $ 1,076,466 $ 1,069,631
Schedule of Reconciliation of Income Tax	2016 2015 Expected federal tax expense $ 1,427,272 $ 969,582 Regulatory deferred tax adjustment (141,567 ) (55,600 ) Bargain purchase tax adjustment (418,908 ) — Dividends received deduction (11,888 ) (11,433 ) State tax expense (net of federal) 190,076 175,331 Other, net 31,481 (8,249 ) Actual tax expense $ 1,076,466 $ 1,069,631
Schedule of Deferred Income Tax Assets and Liabilities	2016 2015 Deferred income tax assets: Unbilled revenue $ 48,327 $ 57,521 Deferred compensation reserve 556,653 604,458 Post-retirement benefit obligations 2,678,585 2,246,383 Inventories 20,054 27,788 Deficiency of gas adjustment clause revenues billed — 85,262 NOL carryforwards 2,852,220 2,597,946 Other 971,815 1,285,010 Total deferred income tax assets 7,127,654 6,904,368 Deferred income tax liabilities: Property, plant and equipment, principally due to differences in depreciation 9,171,142 7,759,860 Pension benefit obligations 1,830,050 1,298,794 Comprehensive income 61,866 19,892 Deferred rate expense and allocations 379,879 365,091 Deficiency of gas adjustment clause revenues billed 138,153 — Intangibles 124,141 — Other 1,062,042 976,445 Total deferred income tax liabilities 12,767,273 10,420,082 Net deferred income tax (assets) liabilities $ 5,639,619 $ 3,515,714

Pension and Other Post-retire35

Pension and Other Post-retirement Benefit Plans (Tables)	12 Months Ended
	Sep. 30, 2016
Compensation and Retirement Disclosure [Abstract]
Schedule of reconciliation of pension and post-retirement benefit plans	Pension Benefits Post-retirement Benefits 2016 2015 2016 2015 Change in benefit obligations: Benefit obligation at beginning of year $ 19,284,602 $ 18,633,318 $ 1,295,660 $ 1,264,378 Service cost (excluding expected expenses) 351,565 337,039 19,325 20,979 Interest cost 977,868 919,156 50,423 48,673 Participant contributions — — 77,754 63,740 Actuarial loss 2,361,479 300,931 191,240 25,891 Benefits paid (947,538 ) (905,842 ) (147,926 ) (128,001 ) Curtailments — — — — Benefit obligation at end of year 22,027,976 19,284,602 1,486,476 1,295,660 Change in plan assets: Fair value of plan assets at beginning of year 13,757,839 13,675,154 — — Actual return on plan assets 1,122,982 4,126 — — Company contributions 957,516 990,897 70,172 64,261 Participant contributions — — 77,754 63,740 Benefits paid (954,141 ) (912,338 ) (147,926 ) (128,001 ) Fair value of plan assets at end of year 14,884,196 13,757,839 — — Funded status (7,143,780 ) (5,526,763 ) (1,486,476 ) (1,295,660 ) Unrecognized net actuarial loss/(gain) 5,998,607 4,403,014 150,130 (45,221 ) Unrecognized prior service cost 2,622 9,797 146,536 150,083 (Accrued) prepaid benefit cost (1,142,551 ) (1,113,952 ) (1,189,810 ) (1,190,798 ) Accrued contribution — — — — Amounts recognized in the balance sheet consists of: Prepaid (accrued) benefit liability (7,143,780 ) (5,526,763 ) (1,486,476 ) (1,295,660 ) Amounts recognized in the Balance Sheets consist of: (Accrued)/prepaid pension cost as of beginning of fiscal year (1,113,952 ) (1,366,855 ) (1,190,798 ) (1,189,761 ) Pension (cost) income (1,254,598 ) (986,115 ) (73,647 ) (70,313 ) Contributions 957,516 990,897 — — Change in receivable contribution 268,483 248,121 — — Net benefits paid — — 74,635 69,276 Change in additional minimum liability — — — — (Accrued)/prepaid pension cost as of end of fiscal year $ (1,142,551 ) $ (1,113,952 ) $ (1,189,810 ) $ (1,190,798 ) Fair value of plan assets at end of year Cash and equivalents $ 406,557 $ 175,950 — — Government and agency issues 4,227,227 2,920,406 — — Corporate bonds 2,809,435 3,691,645 — — Fixed index funds 403,756 324,804 — — Fixed income 552,373 540,732 — — Equity securities 6,484,848 6,104,302 — — $ 14,884,196 $ 13,757,839 — —
Schedule of amortization of unrecognized net (gain)/loss	1 Projected benefit obligation as of September 30, 2016 $ 22,027,976 2 Plan assets at September 30, 2016 (14,884,196) 3 Unrecognized (gain)/loss as of September 30, 2016 5,998,607 4 Ten percent of greater of (1) or (2) 2,202,798 5 Unamortized (gain)/loss subject to amortization - (3) minus (4) 3,795,809 6 Active future service of active plan participants expected to receive benefits 9.99 7 Minimum amortization of unamortized net (gain)/loss - (5)/(6) $ 379,961 8 Amortization of (gain)/loss for 2016-2017 $ 1,027,016
Schedule of components of net periodic benefit cost	Pension Benefits Post-retirement Benefits 2016 2015 2016 2015 Components of net period benefit cost (benefit): Service cost 357,565 343,039 19,325 20,979 Interest cost 977,868 919,156 50,423 48,673 Expected return on plan assets (1,028,758 ) (1,027,565 ) — — Amortization of prior service 7,175 9,406 3,547 3,547 Amortization of unrecognized actuarial loss (gain) 672,265 493,958 (4,111 ) (7,901 ) Net periodic benefit cost (benefit) 986,115 737,994 69,184 65,298
Schedule of weighted average assumptions used to determine net period cost	Pension Benefits Post-retirement Benefits 2016 2015 2016 2015 Weighted average assumptions used to determine net period cost at September 30: Discount rate 4.20% 5.22% 3.25% 4.00% Salary increases 2.00% 2.00% N/A N/A Expected return on assets 7.50% 7.50% N/A N/A
Schedule of estimated pension plan payments	2017 $ 1,162,055 2018 $ 1,183,273 2019 $ 1,248,018 2020 $ 1,358,644 2021 $ 1,410,391 2022+ $ 7,215,801

Acquisition of Pike County Li36

Acquisition of Pike County Light & Power Company (Tables)	12 Months Ended
	Sep. 30, 2016
Business Combinations [Abstract]
Schedule of fair value of assets acquired and liabilities assumed	Cash 306,740 Customer accounts receivable 1,349,183 Acquisition receivable 194,619 Current assets 414,044 Property and equipment 18,754,174 Other assets 744,345 Acquired intangibles: Trade name 311,000 Total fair value of assets acquired 22,074,105 Current liabilities assumed (1,372,147 ) Bond assumed (3,200,000 ) Other liabilities assumed (218,744 ) Net liabilities assumed (4,790,891 ) Net assets acquired 17,283,214 Cash consideration (15,086,989 ) Gain before deferred tax benefit 2,196,225 Income tax benefit - deferred (964,143 ) Gain on bargain purchase $ 1,232,082
Schedule of Pro forma unaudited condensed consolidated financial information	Fiscal Year Ended (Unaudited) September 30, 2016 September 30, 2015 Revenue $ 28,202,000 $ 33,721,000 Net income $ 4,350,000 $ 3,517,000 Net income per share $ 1.74 $ 1.34

Segment Reporting (Tables)

Segment Reporting (Tables)	12 Months Ended
	Sep. 30, 2016
Segment Reporting [Abstract]
Schedule of results of the segments consistent with the Holding Company's internal financial reporting process	Gas Company Pike Holding Company Total Consolidated Total electric utility revenue $ 0 $ 620,637 $ 0 $ 620,637 Total gas utility revenue $ 19,051,661 $ 36,948 $ 0 $ 19,088,609 Bargain purchase adjustment (1) $ 0 $ 1,232,082 $ 0 $ 1,232,082 Investment income $ 102,524 $ 0 $ 0 $ 102,524 Equity investment (loss) $ 0 $ 0 ($ 59,670 ) ($ 59,670 ) Net income (loss) $ 2,003,556 $ 1,179,102 ($ 61,264 ) $ 3,121,394 Income tax expense (benefit) $ 1,140,527 ($ 26,408 ) ($ 37,653 ) $ 1,076,466 Interest expense $ 865,391 $ 35,625 $ 2,291 $ 903,307 Depreciation expense $ 1,703,190 $ 54,414 $ 0 $ 1,757,604 Amortization expense $ 424,744 $ 16,047 $ 0 $ 440,791 Total assets $ 76,173,336 $ 27,340,379 $ 3,490,759 $ 107,004,474 Capital expenditures $ 7,224,955 $ 280,000 $ 0 $ 7,504,955 (1) This is a one-time transaction resulting from the acquisition of Pike.

Stock Options (Tables)

Stock Options (Tables)	12 Months Ended
	Sep. 30, 2016
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]
Schedule of Stock Option Activity	2015 Stock Options Number of Weighted Average Shares Average Remaining Remaining Exercise Contractual Options Price Term Outstanding at October 1, 2014 13,500 $12.83 Options granted - Options exercised during year ended September 30, 2015 1,500 $12.83 Options expired during year ended September 30, 2015 - Outstanding at September 30, 2015 12,000 $12.83 .25 years Exercisable at September 30, 2015 12,000 $12.83 .25 years 2016 Stock Options Number of Weighted Average Shares Average Remaining Remaining Exercise Contractual Options Price Term Outstanding at October 1, 2015 12,000 $12.83 Options granted - Options exercised during year ended September 30, 2016 9,000 $12.83 Options expired during year ended September 30, 2016 3,000 $12.83 Outstanding at September 30, 2016 - $0.00 Exercisable at September 30, 2016 - $0.00

Summary of Significant Accoun39

Summary of Significant Accounting Policies (Narrative) (Details)	Dec. 01, 2015shares	Nov. 13, 2014shares	Dec. 11, 2012shares	May 12, 2011USD ($)	Sep. 30, 2016USD ($)item$ / sharesshares	Sep. 30, 2015USD ($)$ / shares	Nov. 12, 2013$ / shares	May 28, 2009$ / shares
Significant Accounting Policies [Line Items]
Common stock, par value | $ / shares					$ 0.01	$ 0.01	$ 0.01	$ 0.01
Depreciation rate, annual percentage of depreciable property					1.70%	2.20%
Marketable securities, realized gains (losses)					$ 62,994	$ 88,028
State revenue taxes collected					$ 158,893	$ 175,294
Shares issued for stock-based director compensation | shares	2,625				10,500
Compressor station, value				$ 11,000,000
Pipeline, value				2,100,000
Purchase/repurchase price per agreement				2
Total value of new plant				$ 13,100,000
Number of employees | item					59
Restricted Stock [Member]
Significant Accounting Policies [Line Items]
Compensation expense, percent less than closing price of stock					25.00%
Restricted Stock [Member] | Robert Johnston [Member]
Significant Accounting Policies [Line Items]
Shares issued for services, shares | shares	2,625	317
Restricted Stock [Member] | Carl T. Hayden [Member]
Significant Accounting Policies [Line Items]
Shares issued for stock-based director compensation | shares			600
Restricted Stock [Member] | Carl T. Hayden, Quarterly [Member]
Significant Accounting Policies [Line Items]
Shares issued for services, shares | shares			75
Restricted Stock [Member] | Each Director, Quarterly [Member]
Significant Accounting Policies [Line Items]
Shares issued for services, shares | shares					375

Summary of Significant Accoun40

Summary of Significant Accounting Policies (Schedule of Fair Value of Assets and Liabilities) (Details) - USD ($)	Sep. 30, 2016	Sep. 30, 2015
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available-for-sale securities	$ 2,220,098	$ 2,153,785
Fair Value, Measurements, Recurring [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available-for-sale securities	2,220,098	2,153,785
Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 1 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available-for-sale securities	2,220,098	2,153,785
Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 2 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available-for-sale securities
Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 3 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available-for-sale securities

Summary of Significant Accoun41

Summary of Significant Accounting Policies (Net income and average shares outstanding earnings per share) (Details) - USD ($)	12 Months Ended
	Sep. 30, 2016	Sep. 30, 2015
Summary Of Significant Accounting Policies Net Income And Average Shares Outstanding Earnings Per Share Details
Net income attributable to common shareholders	$ 3,058,618	$ 1,782,081
Add Preferred B Dividends	62,776
Net income	$ 3,121,394	$ 1,782,081
Average shares outstanding - basic	2,470,171	2,440,932
Effect of dilutive stock options		4,002
Effect of Preferred B Shares	81,421
Average shares outstanding - diluted	2,551,592	2,444,934

Property, Plant and Equipment42

Property, Plant and Equipment (Details) - USD ($)	12 Months Ended
	Sep. 30, 2016	Sep. 30, 2015
Property, Plant and Equipment [Line Items]
Utility property, plant and equipment	$ 100,550,221	$ 74,297,174
Utility Plant [Member]
Property, Plant and Equipment [Line Items]
Utility property, plant and equipment	$ 26,617,766	21,641,078
Utility Plant [Member] | Minimum [Member]
Property, Plant and Equipment [Line Items]
Useful life	35 years
Utility Plant [Member] | Maximum [Member]
Property, Plant and Equipment [Line Items]
Useful life	55 years
Poles & Line [Member]
Property, Plant and Equipment [Line Items]
Utility property, plant and equipment	$ 10,618,080	0
Poles & Line [Member] | Minimum [Member]
Property, Plant and Equipment [Line Items]
Useful life	30 years
Poles & Line [Member] | Maximum [Member]
Property, Plant and Equipment [Line Items]
Useful life	65 years
Pipelines [Member]
Property, Plant and Equipment [Line Items]
Utility property, plant and equipment	$ 44,440,597	39,939,110
Useful life	66 years
Structures [Member]
Property, Plant and Equipment [Line Items]
Utility property, plant and equipment	$ 7,158,817	5,119,970
Structures [Member] | Minimum [Member]
Property, Plant and Equipment [Line Items]
Useful life	45 years
Structures [Member] | Maximum [Member]
Property, Plant and Equipment [Line Items]
Useful life	47 years
Land and Land Rights [Member]
Property, Plant and Equipment [Line Items]
Utility property, plant and equipment	$ 1,709,977	696,067
Land and Land Rights [Member] | Minimum [Member]
Property, Plant and Equipment [Line Items]
Useful life	50 years
Land and Land Rights [Member] | Maximum [Member]
Property, Plant and Equipment [Line Items]
Useful life	65 years
Construction Work in Progress [Member]
Property, Plant and Equipment [Line Items]
Utility property, plant and equipment	$ 3,809,312	1,390,017
All Other and Corporate [Member]
Property, Plant and Equipment [Line Items]
Utility property, plant and equipment	$ 6,195,672	$ 5,510,932
All Other and Corporate [Member] | Minimum [Member]
Property, Plant and Equipment [Line Items]
Useful life	5 years
All Other and Corporate [Member] | Maximum [Member]
Property, Plant and Equipment [Line Items]
Useful life	25 years

Marketable Securites (Details)

Marketable Securites (Details) - USD ($)	Sep. 30, 2016	Sep. 30, 2015
Marketable Securities
Cost Basis	$ 2,058,525	$ 2,104,669
Unrealized Gain	168,762	61,644
Unrealized Loss	7,189	12,528
Market Value	2,220,098	2,153,785
Cash and Cash Equivalents [Member]
Marketable Securities
Cost Basis	53,408	41,500
Unrealized Gain
Unrealized Loss
Market Value	53,408	41,500
Metlife Stock Value [Member]
Marketable Securities
Cost Basis	51,185	51,185
Unrealized Gain
Unrealized Loss
Market Value	51,185	51,185
Government and agency issues [Member]
Marketable Securities
Cost Basis	392,969	301,673
Unrealized Gain	4,859	1,763
Unrealized Loss
Market Value	397,828	303,436
Corporate bonds [ Member]
Marketable Securities
Cost Basis	283,655	337,757
Unrealized Gain
Unrealized Loss	2,983	3,973
Market Value	280,672	333,784
Mutual Funds [Member]
Marketable Securities
Cost Basis	43,624	79,515
Unrealized Gain
Unrealized Loss	4,206	8,555
Market Value	39,418	70,960
Equity securities [Member]
Marketable Securities
Cost Basis	1,035,809	1,293,039
Unrealized Gain	163,903	59,881
Unrealized Loss
Market Value	1,199,712	$ 1,352,920
Corning Preferred A Stock [Memer]
Marketable Securities
Cost Basis	197,875
Unrealized Gain
Unrealized Loss
Market Value	$ 197,875

Regulatory Matters (Schedule of

Regulatory Matters (Schedule of Regulatory Assets) (Details) - USD ($)	Sep. 30, 2016	Sep. 30, 2015
Regulatory Assets [Line Items]
Regulatory assets	$ 10,612,902	$ 7,306,203
Unrecovered Gas Costs [Member]
Regulatory Assets [Line Items]
Regulatory assets	718,705	37,191
Deferred Regulatory Costs [Member]
Regulatory Assets [Line Items]
Regulatory assets	3,596,302	2,751,339
Pension and Other Postretirement Plans Costs [Member]
Regulatory Assets [Line Items]
Regulatory assets	$ 6,297,895	$ 4,517,673

Regulatory Matters (Schedule 45

Regulatory Matters (Schedule of Regulatory Costs) (Details) - USD ($)	Sep. 30, 2016	Sep. 30, 2015
Regulatory Assets [Line Items]
Regulatory assets	$ 10,612,902	$ 7,306,203
Deferred Rate Case Costs [Member]
Regulatory Assets [Line Items]
Regulatory assets	992,108	897,942
Deferred Rate Case Reconciliations [Member]
Regulatory Assets [Line Items]
Regulatory assets	2,604,194	1,853,397
Deferred Regulatory Costs [Member]
Regulatory Assets [Line Items]
Regulatory assets	$ 3,596,302	$ 2,751,339

Regulatory Matters (Narrative)

Regulatory Matters (Narrative) (Details) - USD ($)	12 Months Ended
	Sep. 30, 2016	Sep. 30, 2015
Regulatory Assets [Line Items]
Regulatory assets	$ 10,612,902	$ 7,306,203
Accumulated OCI reduction for regulatory asset established, net of income taxes		2,748,238
Regulatory asset amortizations	356,658	219,042
Pension and Other Postretirement Plans Costs [Member]
Regulatory Assets [Line Items]
Regulatory assets	6,297,895	4,517,673
Regulatory asset amortizations	116,000	(35,000)
Deferred Rate Case Reconciliations [Member]
Regulatory Assets [Line Items]
Regulatory assets	2,604,194	1,853,397
Regulatory asset amortizations	$ 372,329	$ 1,338,048

Long-term Debt (Narrative) (Det

Long-term Debt (Narrative) (Details) - USD ($)	Oct. 05, 2016	Aug. 31, 2016	Sep. 30, 2016	Sep. 30, 2015
Debt Instrument [Line Items]
Short term borrowings			$ 8,181,499	$ 9,003,599
Manufacturers and Traders Trust Company [Member]
Debt Instrument [Line Items]
Debt, face amount			$ 17,400,000
Issuance date			Jan. 27, 2016
Debt service coverage ratio that must be retained			375.00%
Cash flow coverage ratio			110.00%
Amortization period			7 years
Interest rate, spread on basis			2.40%
Effective interest rate			3.20%
Periodic payment amount, interest and principal			$ 207,143
Agreement with M&T [Member]
Debt Instrument [Line Items]
Debt, face amount			$ 4,200,000
Issuance date			Jan. 27, 2016
Amortization period			7 years
Interest rate, spread on basis			2.40%
Effective interest rate			3.20%
Short term borrowings			$ 4,200,000
Multiple Disbursement Term Note with M&T Bank [Member]
Debt Instrument [Line Items]
Debt, face amount		$ 4,200,000	$ 4,200,000
Issuance date			Aug. 31, 2016
Maturity date			Aug. 31, 2021
Debt service coverage ratio that must be retained			3.10%
Amortization period			7 years
Interest rate, variable rate basis			If the Leverage Ratio is less than or equal to 2.0, the interest rate is LIBOR plus 1.9%; if the Leverage Ratio is greater than 2.0 but less than or equal to 2.5, the interest rate is LIBOR plus 2.2%; if the Leverage Ratio is greater than 2.5 but less than or equal to 3.0, the interest rate is LIBOR plus 2.5%; and if the Leverage Ratio is greater than 3.0, the interest rate is LIBOR plus 2.8%.
Multiple Disbursement Term Note with M&T Bank [Member] | Minimum [Member]
Debt Instrument [Line Items]
Interest rate, spread on basis			1.90%
Multiple Disbursement Term Note with M&T Bank [Member] | Maximum [Member]
Debt Instrument [Line Items]
Interest rate, spread on basis			2.80%
Pike Bonds [Member]
Debt Instrument [Line Items]
Debt, face amount		$ 3,200,000	$ 3,200,000
Issuance date		Aug. 31, 2016	Aug. 31, 2016
Maturity date		Oct. 3, 2016	Oct. 1, 2018
Effective interest rate			7.10%
Indenture plus amount			$ 105,000
Pike Bonds [Member] | Subsequent Event [Member]
Debt Instrument [Line Items]
Proceeds from Issuance of Debt	$ 3,000,000
Percentage of outstanding principal amount plus accrued and unpaid interest to the redemption date	100.372%
Credit Agreement with M&T Bank [Member]
Debt Instrument [Line Items]
Debt, face amount			$ 12,000,000
Issuance date			Aug. 31, 2016
Maturity date			Aug. 31, 2021
Debt to tangible net worth ratio that must be maintained			140.00%
Debt service coverage ratio that must be retained			375.00%
Cash flow coverage ratio			110.00%
Effective interest rate			3.00%
Periodic payment amount, interest and principal			$ 100,000

Long-term Debt (Schedule of Lon

Long-term Debt (Schedule of Long-term Debt) (Details) - USD ($)	Sep. 30, 2016	Sep. 30, 2015
Debt Instrument [Line Items]
Long term debt	$ 36,853,937	$ 15,477,530
Less current installments	5,558,156	2,923,133
Long-term debt less current installments	31,295,781	12,554,397
Community Bank Notes Payable [Member]
Debt Instrument [Line Items]
Long term debt		501,931
Effective interest rate	4.50%
Five Star Bank Notes Payable [Member]
Debt Instrument [Line Items]
Long term debt		451,323
Effective interest rate	5.79%
Multiple Disbursement Term Note M&T Bank 2 [Member]
Debt Instrument [Line Items]
Long term debt		1,313,318
Effective interest rate	4.25%
Term Loan Agreement Community Bank [Member]
Debt Instrument [Line Items]
Long term debt		1,847,391
Effective interest rate	3.75%
Five Star Bank Promissory Note 1 [Member]
Debt Instrument [Line Items]
Long term debt		184,654
Effective interest rate	4.46%
Five Star Bank Promissory Note 2 [Member]
Debt Instrument [Line Items]
Long term debt		184,651
Effective interest rate	4.46%
M&T Promissory Note 1 [Member]
Debt Instrument [Line Items]
Long term debt		2,950,113
Effective interest rate	4.20%
M&T Promissory Note 2 [Member]
Debt Instrument [Line Items]
Long term debt		1,831,886
Effective interest rate	4.51%
Multiple Disbursement Term Note M&T Bank [Member]
Debt Instrument [Line Items]
Long term debt		1,972,221
Effective interest rate	4.18%
Multiple Disbursement Term Note and Credit Agreement M&T Bank [Member]
Debt Instrument [Line Items]
Long term debt		3,540,206
Effective interest rate	4.39%
Term Note and Credit Agreement M&T Bank [Member]
Debt Instrument [Line Items]
Long term debt		552,853
Effective interest rate	4.49%
M&T Bank - Vehicle Loans [Member]
Debt Instrument [Line Items]
Long term debt	$ 53,937	146,983
M&T Bank - Vehicle Loans [Member] | Minimum [Member]
Debt Instrument [Line Items]
Effective interest rate	4.37%
M&T Bank - Vehicle Loans [Member] | Maximum [Member]
Debt Instrument [Line Items]
Effective interest rate	5.00%
Note Payable January 2022 [Member]
Debt Instrument [Line Items]
Long term debt	$ 17,400,000
Note Payable January 2021 [Member]
Debt Instrument [Line Items]
Long term debt	4,200,000
Note Payable October 2018 [Member]
Debt Instrument [Line Items]
Long term debt	$ 3,200,000
Effective interest rate	7.07%
Note Payable August 2021 [Member]
Debt Instrument [Line Items]
Long term debt	$ 12,000,000

Long-term Debt (Schedule of Agg

Long-term Debt (Schedule of Aggregates of Long-term Debt) (Details)	Sep. 30, 2016USD ($)
Aggregate maturity of debt in fiscal year:
2,017	$ 5,558,156
2,018	3,745,604
2,019	3,812,603
2,020	3,894,393
2,021	12,055,575
2022+	$ 7,787,606

Lines of Credit and Short Ter50

Lines of Credit and Short Term Debt (Details) - USD ($)	12 Months Ended
	Sep. 30, 2016	Sep. 30, 2015
Community Bank line of credit [Member]
Line of Credit Facility [Line Items]
Line of credit, maximum borrowing capacity	$ 8,500,000
Line of credit outstanding	0	$ 7,003,599
Line of credit, maximum amount outstanding	$ 8,406,484	$ 7,581,344
Interest rate, spread on basis	2.50%
Debt to tangible net worth ratio that must be maintained	250.00%
Debt service coverage ratio that must be retained	110.00%
Effective interest rate	3.00%
Weighted average interest rate during period	2.80%	2.90%
Agreement with M&T [Member]
Line of Credit Facility [Line Items]
Line of credit, maximum borrowing capacity	$ 8,000,000
Line of credit outstanding	7,500,000
Line of credit, maximum amount outstanding	$ 7,818,800
Effective interest rate	3.20%
Pike Agreement with M&T [Member]
Line of Credit Facility [Line Items]
Line of credit, maximum borrowing capacity	$ 2,000,000
Interest rate, spread on basis	2.75%
Debt to tangible net worth ratio that must be maintained	140.00%
Debt service coverage ratio that must be retained	375.00%
Cash flow coverage ratio	110.00%
Effective interest rate	3.30%

Preferred Stock (Details)

Preferred Stock (Details) - USD ($)	Oct. 15, 2016	Sep. 30, 2016	Sep. 30, 2015	Apr. 14, 2016
Preferred stock shares authorized		140,000		11,000,000
Preferred shares par value		$ 0.01
Preferred shares subscribed				2,468,961
Unamortized issuance costs		$ 412,316	$ 287,858
Net proceeds		$ 7,500,000
Preferred stock shares outstanding		105,503
Debt issuance costs		$ 136,326	$ 982
6% Series A Cumulative Preferred Stock [Memebr]
Purchase of preferred shares		140,000
Percentage of dividend rate on preferred shares		6.00%
Preferred shares par value		$ 0.01
Conversion price per share		$ 25
Preferred shares available		140,000
Preferred shares subscribed		105,303
Liquidation preference per share		$ 25
Preferred stock shares outstanding		2,023
Conversion ratio		0.125
4.8% Series B Cumulative Preferred Stock [Memebr]
Purchase of preferred shares		360,000
Percentage of dividend rate on preferred shares		4.80%
Preferred shares par value		$ 0.01
Conversion price per share		$ 20.75
Preferred shares available		360,000
Preferred shares subscribed		244,263
Issuance costs		$ 150,000
Liquidation preference per share		$ 20.75
Conversion ratio		0.167
Shareholder owning percentage		10.00%
Exercise of conversion rights		10.00%
Series A Preferred Stock [Member]
Net proceeds		$ 197,000
Series A Preferred Stock [Member] | Subsequent Event [Member]
Dividends paid	$ 40,542
Preferred Stock [Member]
Unamortized issuance costs		75,000
Issuance costs		225,000
Net proceeds		$ 7,700,000
Series B Preferred Stock [Member] | Subsequent Event [Member]
Dividends paid	$ 62,776

Stockholders Equity (Details)

Stockholders Equity (Details) - USD ($)	Dec. 01, 2015	Sep. 30, 2016	Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2013	Sep. 30, 2012	Sep. 30, 2011	Sep. 30, 2010	Sep. 30, 2009	Sep. 30, 2016	Jun. 30, 2016	Jun. 30, 2015	Dec. 31, 2014	Nov. 12, 2013	May 28, 2009
Subsidiary, Sale of Stock [Line Items]
Shares authorized under dividend reinvestment program		9,537								9,537				129,004	100,000
Par value of common stock		$ 0.01	$ 0.01							$ 0.01				$ 0.01	$ 0.01
Shares issued under dividend reinvestment program		9,537	6,995	7,219	7,433	5,689	3,976	2,319	761	43,929
Shares issued in private placement		29,637
Proceeds from private placement		$ 125,392
Value of shares issued under DRIP		151,131
Shares issued for services		$ 129,833
Shares issued for stock-based director compensation	2,625	10,500
Shares issued for stock options exercised		9,000	1,500
Dividends payable		$ 371,608								$ 371,608
Dividends payable, amount per share											$ 0.15	$ 0.145	$ 0.135
Leatherstocking Gas Company LLC And Leatherstocking Pipeline Company LLC [Member]
Subsidiary, Sale of Stock [Line Items]
Issuance of common stock, shares		600

Investment in Joint Ventures (N

Investment in Joint Ventures (Narrative) (Details)	Oct. 19, 2015USD ($)	Feb. 28, 2015USD ($)mi	Sep. 30, 2015USD ($)	Sep. 30, 2016USD ($)item	Sep. 30, 2015USD ($)	Sep. 30, 2014USD ($)	Jul. 11, 2016USD ($)	Dec. 31, 2015USD ($)	Aug. 28, 2014USD ($)	Jul. 30, 2013USD ($)	Jul. 25, 2013USD ($)
Schedule of Equity Method Investments [Line Items]
Combined assets			$ 71,415,778	$ 107,004,474	$ 71,415,778
Combined liabilties			13,275,900	19,186,229	13,275,900
Net income (loss)				3,121,394	1,782,081
Investment in joint ventures during year				350,000	1,130,000
Proceeds under long-term debt				14,740,412	982,903
Proceeds from debt and investment				$ 23,519,932	1,395,448
Leatherstocking Gas Company LLC And Leatherstocking Pipeline Company LLC [Member]
Schedule of Equity Method Investments [Line Items]
Ownership percentage of joint venture				50.00%
Agreement amount	$ 500,000			$ 613,000			$ 1,250,000		$ 4,000,000	$ 1,800,000	$ 1,500,000
Amount drawn on agreement			4,000,000		4,000,000		$ 613,000	$ 500,000
Investment amount required to draw remaining agreement amount	$ 166,667			$ 204,000
Debt service coverage ratio that must be retained				115.00%
Combined assets			11,900,000	$ 12,600,000	11,900,000
Combined liabilties			7,300,000	7,500,000	7,300,000
Net income (loss)				$ 119,000	235,000
Franchises purchased | item				16
Number of customers | item				290
Percentage of borrowings required to be invested				66.00%
Investment in joint ventures during year					850,000	$ 500,000
Proceeds from lines of credit					2,500,000	$ 1,500,000
Length of gasline | mi		1.5
Payments to acquire oil and gas property and equipment		$ 900,000
Proceeds under long-term debt		540,000
Proceeds from contributions		$ 180,000	$ 100,000
Proceeds from debt and investment					$ 1,130,000
Stated interest rate			4.58%		4.58%

Investment in Joint Ventures (S

Investment in Joint Ventures (Schedule of Investment Activity) (Details) - USD ($)	12 Months Ended
	Sep. 30, 2016	Sep. 30, 2015
Equity Method Investments and Joint Ventures [Abstract]
Beginning balance in investment in joint ventures	$ 2,293,252	$ 1,280,757
Investment in joint ventures during year	350,000	1,130,000
(Loss) in joint ventures during year	(59,670)	(117,505)
Ending balance in joint ventures	$ 2,583,581	$ 2,293,252

Income Taxes (Narrative) (Detai

Income Taxes (Narrative) (Details) $ in Millions	12 Months Ended
	Sep. 30, 2016USD ($)
Income Tax Disclosure [Abstract]
Operating loss carry forwards	$ 6.4
Operating loss carry forwards, expiration	Sep. 30, 2025

Income Taxes (Schedule of Defer

Income Taxes (Schedule of Deferred and Current Income Tax Expense) (Details) - USD ($)	12 Months Ended
	Sep. 30, 2016	Sep. 30, 2015
Income Tax Disclosure [Abstract]
Current	$ 10,000	$ 78,000
Deferred	1,066,466	991,631
Total	$ 1,076,466	$ 1,069,631

Income Taxes (Schedule of Incom

Income Taxes (Schedule of Income Tax Reconciliation) (Details) - USD ($)	12 Months Ended
	Sep. 30, 2016	Sep. 30, 2015
Income Tax Disclosure [Abstract]
Expected federal tax expense	$ 1,427,272	$ 969,582
Regulatory deferred tax adjustment	(141,567)	(55,600)
Bargain purchase tax adjustment	(418,908)
Dividends received deduction	(11,888)	(11,433)
State tax expense (net of federal)	190,076	175,331
Other, net	31,481	(8,249)
Total income taxes	$ 1,076,466	$ 1,069,631
Federal corporate tax rate	34.00%	34.00%
Leak survey and repair costs petition recovery	$ 349,547

Income Taxes (Schedule of Inc58

Income Taxes (Schedule of Income Tax Assets and Liabilities) (Details) - USD ($)	Sep. 30, 2016	Sep. 30, 2015
Deferred income tax assets:
Unbilled revenue	$ 48,327	$ 57,521
Deferred compensation reserve	556,653	604,458
Post-retirement benefit obligations	2,678,585	2,246,383
Inventories	20,054	27,788
Deficiency of gas adjustment clause revenues billed		85,262
NOL carryforwards	2,852,220	2,597,946
Other	971,815	1,285,010
Total deferred income tax assets	7,127,654	6,904,368
Deferred income tax liabilities:
Property, plant and equipment, principally due to differences in depreciation	9,171,142	7,759,860
Pension benefit obligations	1,830,050	1,298,794
Comprehensive income	61,866	19,892
Deferred rate expense and allocations	379,879	365,091
Deficiency of gas adjustment clause revenues billed	138,153
Intangibles	124,141
Other	1,062,042	976,445
Total deferred income tax liabilities	12,767,273	10,420,082
Net deferred income tax (assets) liabilities	$ 5,639,619	$ 3,515,714

Pension and Other Post-retire59

Pension and Other Post-retirement Benefit Plans (Narrative) (Details) - USD ($)	12 Months Ended
	Sep. 30, 2016	Sep. 30, 2015	Sep. 30, 2014
Defined Benefit Plan Disclosure [Line Items]
Deferred compensation	$ 1,453,782	$ 1,492,488
Decrease in liabilities	24,784
Funded status	8,600,000	6,800,000
Change in pre-tax accumulated net actuarial loss/(gain) and unrecognized prior service cost		851,547
Accumulated items, before tax		4,517,673	$ 3,666,126
Increase in other regulatory assets	437,322	316,603
Other comprehensive income, after tax	66,237	2,427,126
Regulatory assets	10,612,902	7,306,203
Pension expense	970,000	970,000
Amounts not included in prepaid pension cost	264,693	89,746
Regulatory receiveable	$ 103,066	123,174
Annual rate increase of health care costs assumed	6.00%
Percentage change in health care costs (positive or negative)	1.00%
Change in service and interest costs with increase in health care costs	3.90%
Change in accumulated benefit obligations with increase in health care costs	5.70%
Change in service and interest costs with decrease in health care costs	3.20%
Change in accumulated benefit obligations with decrease in health care costs	4.20%
Benefit obligation	$ 2,500,000
Accumulated Defined Benefit Plans Adjustment Attributable to Parent [Member]
Defined Benefit Plan Disclosure [Line Items]
Other comprehensive income, before tax		222,363
Other comprehensive income, after tax		377,526
Pension and Other Postretirement Plans Costs [Member]
Defined Benefit Plan Disclosure [Line Items]
Increase in other regulatory assets		474,021
Regulatory assets	6,297,895	4,517,673
Post-retirement Benefits [Member]
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets at end of year
Monthly post-retirement benefit payout maximum	$ 150
Monthly post-retirement benefit payout minimum, percentage	40.00%
Funded status	$ 1,486,476	1,295,660
Company contributions	70,172	64,261
Pension Benefits [Member]
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets at end of year	14,884,196	13,757,839	$ 13,675,154
Increase in pension benefit obligation due to change in Mortality Table assumption	350,000
Funded status	7,143,780	5,526,763
Regulatory assets	116,000
Regulatory liabilities	35,000
Expected contribution in 2017	1,183,628
Company contributions	$ 957,516	990,897
Corning Gas Employee Savings Plan [Member]
Defined Benefit Plan Disclosure [Line Items]
Maximum annual contribution per employee, percentage of wages	50.00%
Company matching contribution, percentage limit of employee pay	6.00%
Company matching contribution percentage	50.00%
Company contributions	$ 87,595	87,456
Rabbi Trust [Member]
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets at end of year	2,168,913	2,102,600
Stock included in deferred compensation plan	$ 51,185	51,185
Increase in pension benefit obligation due to change in Mortality Table assumption		$ 171,000

Pension and Other Post-retire60

Pension and Other Post-retirement Benefit Plans (Schedule of Pension and Post-retirement Plan Benefits Reconciliation) (Details) - USD ($)	12 Months Ended
	Sep. 30, 2016	Sep. 30, 2015
Change in plan assets:
Funded status	$ (8,600,000)	$ (6,800,000)
Pension Benefits [Member]
Change in benefit obligation:
Benefit obligation at beginning of year	19,284,602	18,633,318
Service cost (excluding expected expenses)	351,565	337,039
Interest cost	977,868	919,156
Participant contributions
Actuarial loss	2,361,479	300,931
Benefits paid	(947,538)	(905,842)
Curtailments
Benefit obligations at end of year	22,027,976	19,284,602
Change in plan assets:
Fair value of plan assets at beginning of year	13,757,839	13,675,154
Actual return on plan assets	1,122,982	4,126
Company contributions	957,516	990,897
Participant contributions
Benefits paid	(947,538)	(905,842)
Fair value of plan assets at end of year	14,884,196	13,757,839
Funded status	(7,143,780)	(5,526,763)
Unrecognized net actuarial loss/ (gain)	5,998,607	4,403,014
Unrecognized prior service cost	2,622	9,797
(Accrued) prepaid benefit cost	(1,142,551)	(1,113,952)
Accrued contribution
Amounts recognized in the balance sheet consists of:
Prepaid (accrued) benefit liability	(7,143,780)	(5,526,763)
(Accrued)/prepaid pension cost as of beginning of fiscal year	(1,113,952)	(1,366,855)
Pension (cost) income	(1,254,598)	(986,115)
Contributions	957,516	990,897
Change in receivable contribution	268,483	248,121
Net benefits paid
Change in additional minimum liability
(Accrued)/prepaid pension cost as of end of fiscal year	(1,142,551)	(1,113,952)
Post-retirement Benefits [Member]
Change in benefit obligation:
Benefit obligation at beginning of year	1,295,660	1,264,378
Service cost (excluding expected expenses)	19,325	20,979
Interest cost	50,423	48,673
Participant contributions	77,754	63,740
Actuarial loss	191,240	25,891
Benefits paid	(147,926)	(128,001)
Curtailments
Benefit obligations at end of year	1,486,476	1,295,660
Change in plan assets:
Fair value of plan assets at beginning of year
Actual return on plan assets
Company contributions	70,172	64,261
Participant contributions	77,754	63,740
Benefits paid	(147,926)	(128,001)
Fair value of plan assets at end of year
Funded status	(1,486,476)	(1,295,660)
Unrecognized net actuarial loss/ (gain)	150,130	(45,221)
Unrecognized prior service cost	146,536	150,083
(Accrued) prepaid benefit cost	(1,189,810)	(1,190,798)
Accrued contribution
Amounts recognized in the balance sheet consists of:
Prepaid (accrued) benefit liability	(1,486,476)	(1,295,660)
(Accrued)/prepaid pension cost as of beginning of fiscal year	(1,190,798)	(1,189,761)
Pension (cost) income	(73,647)	(70,313)
Contributions
Change in receivable contribution
Net benefits paid	74,635	69,276
Change in additional minimum liability
(Accrued)/prepaid pension cost as of end of fiscal year	$ (1,189,810)	$ (1,190,798)

Pension and Other Post-retire61

Pension and Other Post-retirement Benefit Plans (Schedule of Fair Value of Plan Assets) (Details) - USD ($)	Sep. 30, 2016	Sep. 30, 2015	Sep. 30, 2014
Pension Benefits [Member]
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets at end of year	$ 14,884,196	$ 13,757,839	$ 13,675,154
Pension Benefits [Member] | Cash and Cash Equivalents [Member]
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets at end of year	406,557	175,950
Pension Benefits [Member] | Government and agency issues [Member]
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets at end of year	4,227,227	2,920,406
Pension Benefits [Member] | Corporate bonds [ Member]
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets at end of year	2,809,435	3,691,645
Pension Benefits [Member] | Fixed index funds [Member]
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets at end of year	403,756	324,804
Pension Benefits [Member] | Fixed income [Member]
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets at end of year	552,373	540,732
Pension Benefits [Member] | Equity securities [Member]
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets at end of year	6,484,848	6,104,302
Post-retirement Benefits [Member]
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets at end of year
Post-retirement Benefits [Member] | Cash and Cash Equivalents [Member]
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets at end of year
Post-retirement Benefits [Member] | Government and agency issues [Member]
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets at end of year
Post-retirement Benefits [Member] | Corporate bonds [ Member]
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets at end of year
Post-retirement Benefits [Member] | Fixed index funds [Member]
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets at end of year
Post-retirement Benefits [Member] | Fixed income [Member]
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets at end of year
Post-retirement Benefits [Member] | Equity securities [Member]
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets at end of year

Pension and Other Post-retire62

Pension and Other Post-retirement Benefit Plans (Schedule of Amortization of Unrecognized Net (Gain)/Loss for Retirement Plan) (Details) - USD ($)	12 Months Ended
	Sep. 30, 2016	Sep. 30, 2015	Sep. 30, 2014
Pension Benefits [Member]
Amortization of unrecognized net (gain)/loss for fiscal year ending September 30, 2016:
Projected benefit obligation as of September 30, 2016	$ 22,027,976	$ 19,284,602	$ 18,633,318
Plan assets at September 30, 2016	(14,884,196)	(13,757,839)	(13,675,154)
Unrecognized (gain)/loss as of September 30, 2016	5,998,607	4,403,014
Ten percent of greater of (1) or (2)	2,202,798
Unamortized (gain)/loss subject to amortization - (3) minus (4)	$ 3,795,809
Active future service of active plan participants expected to receive benefits	9 years 10 months 24 days
Minimum amortization of unamortized net (gain)/loss - (5)/(6)	$ 379,961
Amortization of (gain)/loss for 2016-2017	1,027,016
Post-retirement Benefits [Member]
Amortization of unrecognized net (gain)/loss for fiscal year ending September 30, 2016:
Projected benefit obligation as of September 30, 2016	1,486,476	1,295,660	1,264,378
Plan assets at September 30, 2016
Unrecognized (gain)/loss as of September 30, 2016	$ 150,130	$ (45,221)
Amortization period	11 years
Amortization of (gain)/loss for 2016-2017	$ 13,648

Pension and Other Post-retire63

Pension and Other Post-retirement Benefit Plans (Schedule of Net Period Benefit Cost (Benefit)) (Details) - USD ($)	12 Months Ended
	Sep. 30, 2016	Sep. 30, 2015
Pension Benefits [Member]
Components of net period benefit cost (benefit):
Service cost	$ 357,565	$ 343,039
Interest cost	977,868	919,156
Expected return on plan assets	(1,028,758)	(1,027,565)
Amortization of prior service	7,175	9,406
Amortization of unrecognized actuarial loss (gain)	672,265	493,958
Net periodic benefit cost (benefit)	986,115	737,994
Post-retirement Benefits [Member]
Components of net period benefit cost (benefit):
Service cost	19,325	20,979
Interest cost	50,423	48,673
Expected return on plan assets
Amortization of prior service	3,547	3,547
Amortization of unrecognized actuarial loss (gain)	(4,111)	(7,901)
Net periodic benefit cost (benefit)	$ 69,184	$ 65,298

Pension and Other Post-retire64

Pension and Other Post-retirement Benefit Plans (Schedule of Weighted Average Assumptions) (Details)	12 Months Ended
	Sep. 30, 2016	Sep. 30, 2015
Pension Benefits [Member]
Weighted average assumptions used to determine period cost at September 30:
Discount rate	4.20%	5.22%
Salary increases	2.00%	2.00%
Expected return on assets	7.50%	7.50%
Post-retirement Benefits [Member]
Weighted average assumptions used to determine period cost at September 30:
Discount rate	3.25%	4.00%

Pension and Other Post-retire65

Pension and Other Post-retirement Benefit Plans (Schedule of Estimated Plan Benefit Payments) (Details)	Sep. 30, 2016USD ($)
Estimated pension plan benefit payments in fiscal year;
2,017	$ 1,162,055
2,018	1,183,273
2,019	1,248,018
2,020	1,358,644
2,021	1,410,391
2022+	$ 7,215,801

Acquisition of Pike County Li66

Acquisition of Pike County Light & Power Company (Narrative) (Details)	1 Months Ended	12 Months Ended
	Oct. 30, 2015USD ($)item	Sep. 30, 2016USD ($)item		Sep. 30, 2015USD ($)
Customers | item		14,800
Working capital adjustment		$ 530,000
Bargin purchase		1,232,082	[1]
Acquisition receivable		725,000
Acquired intangible assets		311,000
Credit Agreement with M&T Bank [Member]
Debt, face amount		12,000,000
Pike Agreement with M&T [Member]
Borrowing amount		2,000,000
M&T Line of Credit [Member]
Borrowing amount		2,000,000
M&T Letters of credit limit [Member]
Borrowing amount		2,500,000
Collateral security obligations [Member]
Borrowing amount		2,100,000
Pike County Light & Power Company [Member]
Customers | item	5,800
Purchase price	$ 13,100,000
Working capital adjustment	2,500,000
Final working captial adjustment	1,970,000
Bonds assumed	3,200,000	3,200,000
Paid-in cash	3,616,924
Redemption of bonds	$ 3,200,000
Percentage of repurchase bonds	100.372%
Bargin purchase		1,232,082
Acquisition receivable	$ 530,000	194,619
Acquired intangible assets		$ 311,000
[1]	This is a one-time transaction resulting from the acquisition of Pike.

Acquisition of Pike County Li67

Acquisition of Pike County Light & Power Company (Summary of fair value of assets acquired and liabilities) (Details) - USD ($)	12 Months Ended
	Sep. 30, 2016		Sep. 30, 2015	Oct. 30, 2015
Acquisition receivable	$ 725,000
Acquired intangibles:
Trade name	311,000
Gain before deferred tax benefit	4,197,860		$ 2,851,712
Income tax benefit - deferred	(1,076,466)		(1,069,631)
Gain on bargain purchase	1,232,082	[1]
Pike County Light & Power Company [Member]
Cash	306,740
Customer accounts receivable	1,349,183
Acquisition receivable	194,619			$ 530,000
Current assets	414,044
Property and equipment	18,754,174
Other assets	744,345
Acquired intangibles:
Trade name	311,000
Total fair value of assets acquired	22,074,105
Current liabilities assumed	(1,372,147)
Bond assumed	(3,200,000)			$ (3,200,000)
Other liabilities assumed	(218,744)
Net liabilities assumed	(4,790,891)
Net assets acquired	17,283,214
Cash consideration	(15,086,989)
Gain before deferred tax benefit	2,196,225
Income tax benefit - deferred	(964,143)
Gain on bargain purchase	$ 1,232,082
[1]	This is a one-time transaction resulting from the acquisition of Pike.

Acquisition of Pike County Li68

Acquisition of Pike County Light & Power Company (Summary of Acqusition occurred) (Details) - Pike County Light & Power Company [Member] - USD ($)	12 Months Ended
	Sep. 30, 2016	Sep. 30, 2015
Revenue	$ 28,202,000	$ 33,721,000
Net income	$ 4,350,000	$ 3,517,000
Net income per share	$ 1.74	$ 1.34

Segment Reporting (Details)

Segment Reporting (Details) - USD ($)		12 Months Ended
		Sep. 30, 2016		Sep. 30, 2015
Total electric utility revenue		$ 620,637
Total gas utility revenue		19,088,609		22,503,411
Bargain purchase adjustment		1,232,082	[1]
Investment income		102,524		133,551
Equity investment (loss)		(59,670)		(117,505)
Net income (loss)		3,121,394		1,782,081
Income tax expense (benefit)		1,076,466		1,069,631
Interest expense		903,307		917,818
Depreciation expense		1,757,604		1,620,700
Amortization expense		440,791
Total assets		107,004,474		71,415,778
Capital expenditures		7,504,955		$ 5,825,154
Gas Company [Member]
Total electric utility revenue		0
Total gas utility revenue		19,051,661
Bargain purchase adjustment	[1]	0
Investment income		102,524
Equity investment (loss)		0
Net income (loss)		2,003,556
Income tax expense (benefit)		1,140,527
Interest expense		865,391
Depreciation expense		1,703,190
Amortization expense		424,744
Total assets		76,173,336
Capital expenditures		7,224,955
Pike [Member]
Total electric utility revenue		620,637
Total gas utility revenue		36,948
Bargain purchase adjustment	[1]	1,232,082
Investment income		0
Equity investment (loss)		0
Net income (loss)		1,179,102
Income tax expense (benefit)		(26,408)
Interest expense		35,625
Depreciation expense		54,414
Amortization expense		16,047
Total assets		27,340,379
Capital expenditures		280,000
Holding Company [Member]
Total electric utility revenue		0
Total gas utility revenue		0
Bargain purchase adjustment	[1]	0
Investment income		0
Equity investment (loss)		(59,670)
Net income (loss)		(61,264)
Income tax expense (benefit)		(37,653)
Interest expense		2,291
Depreciation expense		0
Amortization expense		0
Total assets		3,490,759
Capital expenditures		$ 0
[1]	This is a one-time transaction resulting from the acquisition of Pike.

Stock Options (Details)

Stock Options (Details) - $ / shares	12 Months Ended
	Sep. 30, 2016	Sep. 30, 2015
Number of Shares Remaining Options
Outstanding	12,000	13,500
Options granted
Options exercised	9,000	1,500
Options expired	3,000
Outstanding		12,000
Exercisable		12,000
Weighted Average Exercise Price
Outstanding	$ 12.83	$ 12.83
Options exercised	12.83	12.83
Options expired	12.83
Outstanding	0	12.83
Exercisable	$ 0	$ 12.83
Average Remaining Contractual Term
Outstanding		3 months
Exercisable		3 months

Commitments (Details)

Commitments (Details)	Sep. 30, 2016USD ($)Dekathermsitem	Sep. 30, 2015USD ($)
Commitments [Line Items]
Storage Capacity Maintained | Dekatherms	736,000
Energy in storage | Dekatherms	565,014
Gas stored underground	$ 903,007	$ 1,182,955
Customers | item	14,800
M&T Term Loan [Member]
Commitments [Line Items]
Borrowing amount	$ 12,000,000
M&T Line of Credit [Member]
Commitments [Line Items]
Borrowing amount	$ 2,000,000

Related Party Transactions (Det

Related Party Transactions (Details)	12 Months Ended
	Sep. 30, 2016USD ($)
Expenditures Paid on Behalf of Corning [Member]
Related Party Transaction [Line Items]
Amount of transaction	$ 67,270
Paid-in realted party receivables	420,000
Shares Sold for Director Services [Member]
Related Party Transaction [Line Items]
Amount of transaction	$ 9,900

Subsequent Events (Details)

Subsequent Events (Details) - USD ($)	Oct. 05, 2016	Aug. 31, 2016	Sep. 30, 2016
Pike Bonds [Member]
Subsequent Event [Line Items]
Debt, face amount		$ 3,200,000	$ 3,200,000
Issuance date		Aug. 31, 2016	Aug. 31, 2016
Maturity date		Oct. 3, 2016	Oct. 1, 2018
Interest rate		7.07%
Multiple Disbursement Term Note with M&T Bank [Member]
Subsequent Event [Line Items]
Debt, face amount		$ 4,200,000	$ 4,200,000
Issuance date			Aug. 31, 2016
Maturity date			Aug. 31, 2021
Subsequent Event [Member] | Pike Bonds [Member]
Subsequent Event [Line Items]
Proceeds from Issuance of Debt	$ 3,000,000