Artesian Resources (ARTNA) 10-Q 4 Nov 16 2016 Q3 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - USD ($)	9 Months Ended
	Sep. 30, 2016	Nov. 01, 2016	Jun. 30, 2015
Entity Information [Line Items]
Entity Registrant Name	Artesian Resources Corporation
Entity Central Index Key	863,110
Current Fiscal Year End Date	--12-31
Entity Well-known Seasoned Issuer	No
Entity Voluntary Filers	No
Entity Current Reporting Status	Yes
Entity Filer Category	Accelerated Filer
Document Fiscal Year Focus	2,016
Document Fiscal Period Focus	Q3
Document Type	10-Q
Amendment Flag	false
Document Period End Date	Sep. 30, 2016
Class A Stock [Member]
Entity Information [Line Items]
Entity Public Float			$ 164,631,000
Entity Common Stock, Shares Outstanding		8,233,755
Class B Stock [Member]
Entity Information [Line Items]
Entity Public Float			$ 6,575,000
Entity Common Stock, Shares Outstanding		881,452

CONDENSED CONSOLIDATED BALANCE

CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Sep. 30, 2016	Dec. 31, 2015
ASSETS
Utility plant, at original cost (less accumulated depreciation 2016-$109,309; 2015-$104,750)	$ 419,952	$ 405,606
Current assets
Cash and cash equivalents	244	209
Accounts receivable (less allowance for doubtful accounts 2016 - $261; 2015 - $277)	7,849	6,350
Income tax receivable	42	1,428
Unbilled operating revenues	1,620	1,535
Materials and supplies	2,058	1,713
Prepaid property taxes	2,298	1,591
Prepaid expenses and other	1,768	1,618
Total current assets	15,879	14,444
Other assets
Non-utility property (less accumulated depreciation 2016 - $591; 2015 - $535)	3,897	3,956
Other deferred assets	3,575	3,444
Total other assets	7,472	7,400
Regulatory assets, net	3,636	4,176
Total Assets	446,939	431,626
Stockholders' equity
Common stock	9,114	9,058
Preferred stock	0	0
Additional paid-in capital	97,073	95,631
Retained earnings	29,690	27,642
Total stockholders' equity	135,877	132,331
Long-term debt, net of current portion	102,599	103,647
Total stockholders' equity and long term debt	238,476	235,978
Current liabilities
Lines of credit	4,008	10,487
Overdraft payable	896	546
Current portion of long-term debt	1,312	1,289
Accounts payable	4,402	4,914
Dividends payable	2,081	0
Accrued expenses	2,570	1,254
Accrued interest	1,164	1,032
Customer deposits	842	704
Other	3,618	2,177
Total current liabilities	20,893	22,403
Commitments and contingencies	0	0
Deferred credits and other liabilities
Net advances for construction	8,542	8,752
Postretirement benefit obligation	230	230
Deferred investment tax credits	548	562
Utility plant retirement cost obligation	933	883
Deferred income taxes	66,449	62,971
Total deferred credits and other liabilities	76,702	73,398
Net contributions in aid of construction	110,868	99,847
Total Liabilities and Stockholders' equity	$ 446,939	$ 431,626

CONDENSED CONSOLIDATED BALANCE3

CONDENSED CONSOLIDATED BALANCE SHEETS Parenthetical - USD ($) $ in Thousands	Sep. 30, 2016	Dec. 31, 2015
ASSETS
Utility plant, at original cost (accumulated depreciation)	$ 109,309	$ 104,750
Current assets
Accounts receivable (allowance for doubtful accounts)	261	277
Other assets
Non utility property (accumulated depreciation)	$ 591	$ 535

CONDENSED CONSOLIDATED STATEMEN

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($) shares in Thousands, $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2016	Sep. 30, 2015	Sep. 30, 2016	Sep. 30, 2015
Operating revenues
Water sales	$ 19,680	$ 18,831	$ 53,440	$ 52,343
Other utility operating revenue	976	861	2,752	2,618
Non-utility operating revenue	1,172	1,084	3,480	3,313
Total operating revenues	21,828	20,776	59,672	58,274
Operating expenses
Utility operating expenses	9,292	9,036	26,603	26,198
Non-utility operating expenses	698	578	1,924	1,705
Depreciation and amortization	2,270	2,196	6,835	6,597
State and federal income taxes	2,498	2,497	6,473	6,452
Property and other taxes	1,125	1,075	3,371	3,270
Total operating expenses	15,883	15,382	45,206	44,222
Operating income	5,945	5,394	14,466	14,052
Other income, net
Allowance for funds used during construction (AFUDC)	87	86	160	153
Miscellaneous	(26)	(28)	598	521
Income before interest charges	6,006	5,452	15,224	14,726
Interest charges	1,646	1,753	4,996	5,256
Net income applicable to common stock	$ 4,360	$ 3,699	$ 10,228	$ 9,470
Income per common share:
Basic (in dollars per share)	$ 0.48	$ 0.41	$ 1.13	$ 1.06
Diluted (in dollars per share)	$ 0.48	$ 0.41	$ 1.12	$ 1.06
Weighted average common shares outstanding:
Basic (in shares)	9,112	8,960	9,090	8,935
Diluted (in shares)	9,177	9,000	9,154	8,972
Cash dividends paid per share of common stock (in dollars per share)	$ 0.2249	$ 0.2183	$ 0.6714	$ 0.6517

CONDENSED CONSOLIDATED STATEME5

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2016	Sep. 30, 2015
CASH FLOWS FROM OPERATING ACTIVITIES
Net income	$ 10,228	$ 9,470
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization	6,835	6,597
Deferred income taxes, net	3,464	4,027
Stock compensation	57	46
AFUDC, equity portion	(105)	(101)
Changes in assets and liabilities:
Accounts receivable, net of allowance for doubtful accounts	(1,499)	(1,541)
Income taxes receivable	1,386	2,496
Unbilled operating revenues	(85)	1,645
Materials and supplies	(345)	183
Prepaid property taxes	(707)	(792)
Prepaid expenses and other	(150)	(37)
Other deferred assets	(157)	(143)
Regulatory assets	489	0
Accounts payable	(512)	(601)
Accrued expenses	1,316	182
Accrued interest	132	(217)
Customer deposits and other, net	1,579	913
NET CASH PROVIDED BY OPERATING ACTIVITIES	21,926	22,127
CASH FLOWS FROM INVESTING ACTIVITIES
Capital expenditures (net of AFUDC, equity portion)	(20,004)	(15,875)
Proceeds from sale of assets	60	25
NET CASH USED IN INVESTING ACTIVITIES	(19,944)	(15,850)
CASH FLOWS FROM FINANCING ACTIVITIES
Net repayments under lines of credit agreements	(6,479)	(6,125)
Increase in overdraft payable	350	623
Net advances and contributions in aid of construction	9,865	4,448
Net proceeds from issuance of common stock	1,441	1,876
Dividends paid	(6,099)	(5,814)
Principal repayments of long-term debt	(1,025)	(1,003)
NET CASH USED IN FINANCING ACTIVITIES	(1,947)	(5,995)
NET INCREASE IN CASH AND CASH EQUIVALENTS	35	282
CASH AND CASH EQUIVALENTS AT BEGINNING OF YEAR	209	243
CASH AND CASH EQUIVALENTS AT END OF PERIOD	244	525
Supplemental Disclosures of Cash Flow Information:
Utility plant received as construction advances and contributions	2,338	1,119
Interest paid	4,864	5,473
Income taxes paid	$ 281	$ 1,400

GENERAL

GENERAL	9 Months Ended
	Sep. 30, 2016
GENERAL [Abstract]
GENERAL	NOTE 1 Artesian Resources Corporation, or Artesian Resources, includes income from the earnings of our eight wholly owned subsidiaries. The terms "we", "our", "Artesian" and the "Company" as used herein refer to Artesian Resources and its subsidiaries. DELAWARE REGULATED SUBSIDIARIES Artesian Water Company, Inc., or Artesian Water, our principal subsidiary, is the oldest and largest public water utility in the State of Delaware and has been providing water service within the state since 1905. Artesian Wastewater Management, Inc., or Artesian Wastewater, is a regulated entity that owns wastewater collection and treatment infrastructure and provides wastewater services to customers in Delaware as a regulated public wastewater service company. MARYLAND REGULATED SUBSIDIARIES Artesian Water Maryland, Inc., or Artesian Water Maryland, began operations in August 2007. Artesian Water Maryland distributes and sells water to residential, commercial, industrial and municipal customers in Cecil County, Maryland. Artesian Wastewater Maryland, Inc., or Artesian Wastewater Maryland, is a regulated wastewater entity in the State of Maryland and was incorporated on June 3, 2008. Artesian Wastewater Maryland is able to provide public wastewater services to customers in the State of Maryland. PENNSYLVANIA REGULATED SUBSIDIARY Artesian Water Pennsylvania, Inc., or Artesian Water Pennsylvania, began operations upon receiving recognition as a regulated public water utility by the Pennsylvania Public Utility Commission, or PAPUC, in 2002. It provides water service to a residential community in Chester County. OTHER SUBSIDIARIES Our three other subsidiaries, none of which are regulated, are Artesian Utility Development, Inc., or Artesian Utility, Artesian Development Corporation, or Artesian Development, and Artesian Consulting Engineers, Inc., or Artesian Consulting Engineers. Artesian Utility was formed in 1996. We currently operate wastewater treatment facilities for the town of Middletown, in southern New Castle County, Delaware or Middletown, under a 20-year contract that expires in July 2022. Artesian Utility has operated the WSLP Plan and the SSLP Plan since April 2012. In November 2015, a third plan was added, the ISLP Plan. Artesian Resources initiated the WSLP Plan in M arch 2005. The s expanded in the second quarter of 2008 to include maintenance or repair to customers' sewer lines. The SSLP Plan covers all parts, material and labor required to repair or replace participating customers' leaking or clogged sewer lines up to an annual limit. Also, in the second quarter of 2010, the WSLP Pla , Artesian Development is a real estate holding company that owns properties, including land zoned for office buildings, a water treatment plant and wastewater facility, as well as property for current operations, including an office facility in Sussex County, Delaware. The facility consists of approximately 10,000 square feet of office space along with nearly 10,000 square feet of warehouse space. This facility allows all of our Sussex County, Delaware operations to be house d in one central location. Artesian Consulting Engineers no longer offers development and architectural services to outside third parties.

BASIS OF PRESENTATION AND ADJUS

BASIS OF PRESENTATION AND ADJUSTMENTS	9 Months Ended
	Sep. 30, 2016
BASIS OF PRESENTATION [Abstract]
BASIS OF PRESENTATION AND ADJUSTMENTS	NOTE 2 – BASIS OF PRESENTATION Basis of Presentation The unaudited condensed consolidated financial statements are presented in accordance with the requirements of Form 10-Q and consequently do not include all the disclosures required in the financial statements included in the Company's annual report on Form 10-K. Accordingly, these financial statements and related notes should be read in conjunction with the financial statements and related notes in the Company's annual report on Form 10-K for fiscal year 2015 as filed with the Securities and Exchange Commission on March 11, 2016. The condensed consolidated financial statements include the accounts of Artesian Resources and its wholly owned subsidiaries, including its principal operating company, Artesian Water. In the opinion of the Company, the accompanying unaudited condensed consolidated financial statements reflect all normal recurring adjustments (unless otherwise noted) necessary to present fairly the Company's balance sheet position as of September 30, 2016, the results of operations for the three and nine month periods ended September 30, 2016 and 2015 and the cash flows for the nine month periods ended September 30, 2016 and 2015. The results of operations for the interim periods presented are not necessarily indicative of the results for the full year or for future periods. Reclassification Certain accounts in the prior year financial statements have been reclassified for comparative purposes to conform to the presentation in the current year financial statements. These reclassifications had no effect on net income or stockholders' equity. In the first quarter of 2016, the Company adopted amended guidance on the Presentation of Debt Issuance Costs and amended guidance on Income Taxes, both of which were issued by the Financial Accounting Standards Board, or FASB, in 2015. The amended guidance on the Presentation of Debt Issuance Costs requires entities to present debt issuance costs related to a debt liability as a direct deduction from the carrying amount of that debt liability on the balance sheet as opposed to being presented as a deferred charge. The amended guidance on Income Taxes simplified the presentation of deferred income taxes, permitting all deferred income tax liabilities be classified as noncurrent on the balance sheet. For all periods presented in this Form 10-Q, unamortized debt issuance costs related to the Company's long-term debt are reported on the Condensed Consolidated Balance Sheets within "Regulatory Assets, Net" in accordance with FASB ASC Topic 980, as this amount will be recovered in future rates charged to our customers. Prior to adoption, the Company reported the unamortized debt issuance costs in "Other Assets" on the Condensed Consolidated Balance Sheets. Deferred income taxes are reported as noncurrent on the Condensed Consolidated Balance Sheets. Prior to adoption, the Company reported current and noncurrent deferred income tax liabilities as separate amounts on the Condensed Consolidated Balance Sheets.

STOCK COMPENSATION PLANS

STOCK COMPENSATION PLANS	9 Months Ended
	Sep. 30, 2016
STOCK COMPENSATION PLANS [Abstract]
STOCK COMPENSATION PLANS	NOTE 3 – STOCK COMPENSATION PLANS On December 9, 2015, the Company's stockholders approved the 2015 Equity Compensation Plan, or the 2015 Plan, which replaced the 2005 Equity Compensation Plan, or the 2005 Plan that expired on May 24, 2015. The 2015 Plan provides that grants may be in any of the following forms: incentive stock options, nonqualified stock options, stock units, stock awards, dividend equivalents and other stock-based awards. The 2015 Plan is administered and interpreted by the Compensation Committee of the Board of Directors, or the Committee. The Committee has the authority to determine the individuals to whom grants will be made under the 2015 Plan, the type, size and terms of the grants, the time when grants will be made and the duration of any applicable exercise or restriction period (subject to the limitations of the 2015 Plan), and deal with any other matters arising under the 2015 Plan. The Committee presently consists of three directors, each of whom is a non-employee director of the Company. All of the employees of the Company and its subsidiaries and non-employee directors of the Company are eligible for grants under the 2015 Plan. A compensation expense of $35,000 and $57,000 $46,000, was recorded for stock options granted in May 2014. There was no stock compensation cost capitalized as part of an asset. The fair value of each option grant was estimated using the Black-Scholes-Merton option pricing model with the following weighted-average assumptions used for grants issued in May 2014. All options were granted at fair value with a 10-year option term with a vesting period of one year from the date of grant. Expected Dividend Yield 3.88 % Expected Stock Price Volatility 26.50 % Weighted Average Risk-Free Interest Rate 2.24 % Weighted Average Expected Life of Options (in years) 7.52 On May 4, 2016, 5,000 shares of Class A common stock, or Class A Stock, were granted as restricted stock awards. The fair value per share was $27.70, the closing price of the Class A Stock as recorded on the Nasdaq Global Market on May 4, 2016. The restricted shares are subject to a one year vesting period from the date of grant. Prior to their release date, these restricted stock awards may be subject to forfeiture in the event of the recipient's termination of employment. On December 18, 2015, 5,000 shares of Class A Stock were issued as fully vested unrestricted stock awards. The fair value per share was $27.38, the closing price of the Class A Stock as recorded on the Nasdaq Global Market on December 18, 2015. The following summary reflects changes in the shares of Class A Stock underlying options and restricted stock awards for the nine months ended September 30, 2016: Options Restricted Awards Option Shares Weighted Average Exercise Price Weighted Average Remaining Life (Yrs.) Aggregate Intrinsic Value (in thousands) Outstanding Restricted Stock Awards Weighted Average Grant Date Fair Value Plan options/restricted stock awards Outstanding at January 1, 2016 270,000 $ 19.34 $ 2,256 – – Granted – – – 5,000 $ 27.70 Exercised/vested and released (33,750 ) 19.64 286 – – Expired/cancelled – – – – – Outstanding at September 30, 2016 236,250 $ 19.30 4.59 $ 2,182 5,000 $ 27.70 Exercisable/vested at September 30, 2016 236,250 $ 19.30 4.59 $ 2,182 – – The total intrinsic value of options exercised during the nine months ended September 30, 2016 was approximately $286,000. There were no unvested option shares outstanding under the 2015 Plan during the nine months ended September 30, 2016. As of September 30, 2016, there was no unrecognized expense related to non-vested option shares granted under the 2015 Plan. As of September 30, 2016, there was $82,000 total unrecognized expense related to non-vested awards of restricted shares awarded under the 2015 Plan. The cost will be recognized over 0.59 years, the remaining vesting period for the restricted stock awards. The following summary reflects changes in the non-vested restricted shares of Class A Stock for the nine months ended September 30, 2016. Non-vested Restricted Shares Weighted Average Grant Date Fair Value Non-vested Restricted Shares Outsanding at January 1, 2016 – – Granted 5,000 $ 27.70 Vested and released – – Cancelled – – Oustanding at September 30, 2016 5,000 $ 27.70 Restricted shares vested at September 30, 2016 – –

REGULATORY ASSETS

REGULATORY ASSETS	9 Months Ended
	Sep. 30, 2016
REGULATORY ASSETS [Abstract]
REGULATORY ASSETS	N OTE 4 - REGULATORY ASSETS FASB ASC Topic 980 stipu by a third-party regulatory agency. Ce gust 2008 and is currently he December 2011 purchase of water assets in Cecil County, Maryland and the November 2010 purchase of the Port Deposit, Maryland water assets. Amortization of these deferred acquisition costs began once the acquired assets were placed into service. These acquisition costs will be amortized over a Regulatory assets, net of amortization, comprise: (in thousands) September 30, 2016 December 31, 2015 Postretirement benefit obligation $ 329 $ 329 Debt issuance costs 1,656 1,747 Deferred income taxes 435 446 Goodwill 312 318 Deferred acquisition and franchise costs 692 720 Expense of rate and regulatory proceedings 212 616 $ 3,636 $ 4,176 Artesian Water contributed $66,000 to its postretirement benefit plan in the first nine months of 2016. These co

NET INCOME PER COMMON SHARE AND

NET INCOME PER COMMON SHARE AND EQUITY PER COMMON SHARE	9 Months Ended
	Sep. 30, 2016
NET INCOME PER COMMON SHARE AND EQUITY PER COMMON SHARE [Abstract]
NET INCOME PER COMMON SHARE AND EQUITY PER COMMON SHARE	NOTE 5 Basic net income per share is based on the weighted average number of common shares outstanding. Diluted net income per share is based on the weighted average number of common shares outstanding and the potentially dilutive effect of employee stock options. The following table summarizes the shares used in computing basic and diluted net income per share: For the Three Months Ended September 30, For the Nine Months Ended September 30, 2016 2015 2016 2015 (in thousands) (in thousands) Weighted average common shares outstanding during the period for Basic computation 9,112 8,960 9,090 8,935 Dilutive effect of employee stock options 65 40 64 37 Weighted average common shares outstanding during the period for Diluted computation 9,177 9,000 9,154 8,972 For the three months ended September 30, 2016, no shares of restricted stock awards were excluded from the calculations of diluted net income per share. For the nine months ended September 30, 2016 3,780 shares of restricted stock awards were excluded from the calculations of diluted net income per share. Due to unrecognized compensation costs during the noted period, the hypothetical repurchase of shares exceeds the number of restricted shares expected to vest during the period, creating an anti-dilutive effect. The Company has 15,000,000 authorized shares of Class A Stock and 1,040,000 authorized shares of Class B Stock. As of September 30, 2016 , , $1.00 per three months ended September 30, 2016 and September 30, 2015, th the nine months ended September 30, 2016 and September 30, 2015, the Equity per common share was $14.95 and $14.77 at September 30, 2016 and December 31, 2015, respectively. These amounts were computed by dividing common stockholders' equity by the number of weighted average shares of common stock outstanding on September 30, 2016 and December 31, 2015, respectively.

REGULATORY PROCEEDINGS

REGULATORY PROCEEDINGS	9 Months Ended
	Sep. 30, 2016
REGULATORY PROCEEDINGS [Abstract]
REGULATORY PROCEEDINGS	N OTE 6 - REGULATO Our water and wastewater utilities generate operating revenue from customers based on rates that are established by state Public Service Commissions through a rate setting process that may include public hearings, evidentiary hearings and the submission of evidence and testimony in support of the requested level of rates by the Company. We are subject to regulation by the following state regulatory commissions: The DEPSC regulates both Artesian Water and Artesian Wastewater. Artesian Water Maryland and Artesian Wastewater Maryland are subject to the regulatory jurisdiction of the MDPSC, and Artesian Water Pennsylvania is subject to the regulatory jurisdiction of the PAPUC. Rate Proceedings Our regulated utilities periodically seek rate increases to cover the cost of increased operating expenses, increased financing expenses due to additional investments in utility plant and other costs of doing business. In Delaware, utilities are permitted by law to place rates into effect, under bond, on a temporary basis pending completion of a rate increase proceeding. Th e first t ser of $2.5 million on an On August 18, 2015, the DEPSC made a preliminary ruling in response to Artesian Water's April 2014 application to implement new rates to meet a requested increase in revenue of 15.90%, or approximately $10.0 million, on an annualized basis. The preliminary ruling recommended a permanent rate increase in revenue of approximately $6.0 million, or 9.50%, on an annualized basis, which was an incremental increase for customers of approximately 6.20% above the Distribution System Improvement Charge, or DSIC, rate previously in effect. On October 6, 2015, a DEPSC order was issued concurring with the preliminary ruling issued on August 18, 2015. On January 19, 2016, a final DEPSC order was issued related to the permanent rate increase and concurred with the October 6, 2015 order. Because the permanent rate increase was less than amounts collected under previously approved temporary increases in rates, Artesian Water was required to refund a portion of the temporary rate increases to its customers. The refund, plus interest, at the average prime rate, for the overpayment from customers was applied to current and future customer bills in October 2015. Because the final rate award was at a level not less than the amount previously reported as income, there was no material impact upon previously reported water sales revenue. The new rates are designed to allow recovery of capital investments made by Artesian Water and to cover increased costs of operations, including water quality testing, chemicals and electricity for water treatment, taxes, labor and benefits. Other Proceedings Delaware law permits water utilities to put into effect, on a semi-annual basis, increases related to specific types of distribution system improvements through a Distribution System Improvement Charge, or DSIC. This charge may be implemented by water utilities between general rate increase applications that normally recognize changes in a water utility's overall financial position. The DSIC approval process is less costly when compared to the approval process for general rate increase requests. The DSIC rate applied between base rate filings is capped at 7.5% of the amount billed to customers under otherwise applicable rates and charges, and the DSIC rate increase applied cannot exceed 5% within an y 12-month period. In November 2014, Artesian Water filed an application with the DEPSC for approval to collect a DSIC rate of 0.34% effective January 1, 2015. This rate was based on approximately $1.3 million in eligible plant improvements since September 30, 2014

INCOME TAXES

INCOME TAXES	9 Months Ended
	Sep. 30, 2016
INCOME TAXES [Abstract]
INCOME TAXES	NOTE 7 – INCOME TAXES Under FASB ASC Topic 740, an uncertain tax position represents our expected treatment of a tax position taken, or planned to be taken in the future, that has not been reflected in measuring income tax expense for financial reporting purposes. In 2014, the Company changed its tax method of accounting for qualifying utility system repairs effective with the tax year ended December 31, 2014 and for prior tax years. The tax accounting method was changed to permit the expensing of qualifying utility asset improvement costs that were previously being capitalized and depreciated for book and tax purposes. The Company recognized a tax deduction of $1.4 The Company establishes reserves for uncertain tax positions based upon management's judgment as to the sustainability of these positions. These accounting estimates related to the uncertain tax position reserve require judgments to be made as to the sustainability of each uncertain tax position based on its technical merits. The Company believes its tax positions comply with applicable law and that it has adequately recorded reserves as required. However, to the extent the final tax outcome of these matters is different than the estimates recorded, the Company would then adjust its tax reserves or unrecognized tax benefits in the period that this information becomes known. The Company has elected to recognize accrued interest (net of related tax benefits) and penalties related to uncertain tax positions as a component of its income tax expense. In December 2015, the Company was notified by the IRS that its Federal tax filing for 2014 would be reviewed along with the effects of the net operating loss generated in 2014 and carryback to the 2012 and 2013 tax years. This review, which began in the first quarter of 2016 and was completed in the second quarter of 2016, resulted in no change to the tax liability. Because the Company had previously recorded a provision for the possible disallowance of a portion of the repair deduction in prior periods, the completion of the audit resulted in the reversal of the reserves in the amount of approximately $201,000. While the Company maintains the belief that the deduction taken on its tax return is appropriate, the methodology for determining the deduction has not been agreed to by the tax authorities. Therefore, as required by FASB ASC 740, the Company ha s accrued approximately $400 and $3,300 in penalties and interest for the three and nine months ended September 30, 2016, respectively, for any disallowance pertaining to the 2015 tax filing. The Company had accrued 015, respectively, which have been reversed during the second quarter of 2016. The Company remains subject to examination by federal authorities for the tax year 2015 and state authorities for the tax years 2013 through 2015

FAIR VALUE OF FINANCIAL INSTRUM

FAIR VALUE OF FINANCIAL INSTRUMENTS	9 Months Ended
	Sep. 30, 2016
FAIR VALUE OF FINANCIAL INSTRUMENTS [Abstract]
FAIR VALUE OF FINANCIAL INSTRUMENTS	N OTE 8 – FAIR VALUE OF FINANC The following methods and assumptions were used to estimate the fair value of each class of financial instruments for which it is practicable to estimate that value. Current Assets and Liabilities For those current assets and liabilities that are considered financial instruments, the carrying amounts approximate fair value because of the short maturity of those instruments. Long-term Financial Liabilities All of Artesian Resources' outstanding lo ng-term debt as of and was fixed-rate. The fair value of the Company's long-term debt is determined by discounting their future cash flows using current market interest rates on similar instruments with comparable maturities consistent with FASB ASC 825. Under the fair value hierarchy, the fair value of the long-term debt in the table below is classified as Level 2 measurements. The fair values for long-term debt differ from the carrying values primarily due to interest rates that differ from the current market interest rates. The carrying amount and fair value of Artesian Resources' long-term debt are shown below: In thousands September 30, 2016 December 31, 2015 Carrying amount $ 103,911 $ 104,936 Estimated fair value $ 119,558 $ 120,243 The fair value of Advances for Construction cannot be reasonably estimated due to the inability to accurately estimate the timing and amounts of future refunds expected to be paid over the life of the contracts. Refund payments are based on the water sales to new customers in the particular development constructed. The fair value of Advances for Construction would be less than the carrying amount because these financial instruments are non-interest bearing.

RELATED PARTY TRANSACTIONS

RELATED PARTY TRANSACTIONS	9 Months Ended
	Sep. 30, 2016
RELATED PARTY TRANSACTIONS [Abstract]
RELATED PARTY TRANSACTIONS	NOTE 9 – RELATED PARTY TRANSACTIONS In July 2016, Artesian Water entered into a contract in the normal course of business with W.F. Construction, Inc., a related party, for 131,000 in work associated with building modifications to a water treatment plant. In May 2015, Artesian Water entered into an approximately 48,000 agreement in the normal course of business with W.F. Construction, Inc. for structural improvements at a water treatment plant. The owner of W.F. Construction, Inc. is the husband of Mrs. Jennifer Finch, Vice President and Assistant Treasurer of Artesian Resources. There were no payments made to W.F. Construction, Inc. during the three and nine months ended September 30, 2016, respectively. Approximately 48,000 was paid to W.F. Construction, Inc. for the nine months ended September 30, 2015. As of September 30, 2016, the Company had an accrued liability of approximately 66,000 for work completed by W.F. Construction, Inc. under the contract. As of December 31, 2015, the Company had no accounts payable balance due to W. F. Construction, Inc. As set forth in the Charter of the Audit Committee of the Board of Directors of Artesian Resources, the Audit Committee is responsible for reviewing and, if appropriate, approving all related party transactions between us and any officer, director, any person known to be the beneficial owner of more than 5% of any class of the Company's voting securities or any other related person that would potentially require disclosure. In its review and approval of the 2016 related party transaction with W.F. Construction, Inc., the Audit Committee considered the nature of the related person's interest in the transaction; the satisfactory performance of work contracted with the related party prior to our employment of Mrs. Finch; and the material terms of the transaction, including, without limitation, the amount and type of transaction, the importance of the transaction to the related person, the importance of the transaction to the Company and whether the transaction would impair the judgment of a director or officer to act in the best interest of the Company. The Audit Committee approves only those related person transactions that are in, or are not inconsistent with, the best interests of the Company and its stockholders.

IMPACT OF RECENT ACCOUNTING PRO

IMPACT OF RECENT ACCOUNTING PRONOUNCEMENTS	9 Months Ended
	Sep. 30, 2016
IMPACT OF RECENT ACCOUNTING PRONOUNCEMENTS [Abstract]
IMPACT OF RECENT ACCOUNTING PRONOUNCEMENTS	NOTE 10 - IMPACT OF RECENT ACCOUNTING PRONOUNCEMENTS In February 2016, FASB issued new guidance on leases to increase transparency and comparability among organizations by recognizing lease assets and lease liabilities on the balance sheet and disclosing key information about leasing arrangements. The new standard establishes a right-of-use or ROU, model that requires a lessee to record a ROU asset and a lease liability on the balance sheet for all leases with terms longer than 12 months. Leases will be classified as either finance or operating, with classification affecting the pattern of expense recognition in the income statement. The new standard is effective for fiscal years beginning after December 15, 2018, including interim periods within those fiscal years. A modified retrospective transition approach is required for lessees for capital and operating leases existing at, or entered into after, the beginning of the earliest comparative period presented in the financial statements, with certain practical expedients available. Management is currently evaluating the impact of our pending adoption of the new standard on our consolidated financial statements. In March 2016, FASB issued amended guidance on Stock Compensation: Improvements to Employee Share-Based Payment Accounting. The amendments are intended to improve the accounting for employee share-based payments and affect all organizations that issue share-based payment awards to their employees. Several aspects of the accounting for share-based payment award transactions are simplified, including: (a) (b) (c) In August 2016, FASB issued amended guidance to address diversity in how certain cash receipts and cash payments are presented and classified in the statement of cash flows. The amendments provide guidance on the following eight specific cash flow issues: Debt prepayment or debt extinguishment costs; settlement of zero-coupon debt instruments or other debt instruments with coupon interest rates that are insignificant in relation to the effective interest rate of the borrowing; contingent consideration payments made after a business combination; proceeds from the settlement of insurance claims; proceeds from the settlement of corporate-owned life insurance policies; distributions received from equity method investees; beneficial interests in securitization transactions; and separately identifiable cash flows and application of the predominance principle. For public companies, the amendments are effective for fiscal years beginning after December 15, 2017, and interim periods within those fiscal years. Early adoption is permitted, including adoption in an interim period. The amendments should be applied using a retrospective transition method to each period presented.

STOCK COMPENSATION PLANS (Table

STOCK COMPENSATION PLANS (Tables)	9 Months Ended
	Sep. 30, 2016
STOCK COMPENSATION PLANS [Abstract]
Weighted-average assumptions used for grants option	The fair value of each option grant was estimated using the Black-Scholes-Merton option pricing model with the following weighted-average assumptions used for grants issued in May 2014. All options were granted at fair value with a 10-year option term with a vesting period of one year from the date of grant. Expected Dividend Yield 3.88 % Expected Stock Price Volatility 26.50 % Weighted Average Risk-Free Interest Rate 2.24 % Weighted Average Expected Life of Options (in years) 7.52
Shares of Class A Non-Voting Common Stock under option	The following summary reflects changes in the shares of Class A Stock underlying options and restricted stock awards for the nine months ended September 30, 2016: Options Restricted Awards Option Shares Weighted Average Exercise Price Weighted Average Remaining Life (Yrs.) Aggregate Intrinsic Value (in thousands) Outstanding Restricted Stock Awards Weighted Average Grant Date Fair Value Plan options/restricted stock awards Outstanding at January 1, 2016 270,000 $ 19.34 $ 2,256 – – Granted – – – 5,000 $ 27.70 Exercised/vested and released (33,750 ) 19.64 286 – – Expired/cancelled – – – – – Outstanding at September 30, 2016 236,250 $ 19.30 4.59 $ 2,182 5,000 $ 27.70 Exercisable/vested at September 30, 2016 236,250 $ 19.30 4.59 $ 2,182 – –
Non-vested shares of Class A Stock under option	The following summary reflects changes in the non-vested restricted shares of Class A Stock for the nine months ended September 30, 2016. Non-vested Restricted Shares Weighted Average Grant Date Fair Value Non-vested Restricted Shares Outsanding at January 1, 2016 – – Granted 5,000 $ 27.70 Vested and released – – Cancelled – – Oustanding at September 30, 2016 5,000 $ 27.70 Restricted shares vested at September 30, 2016 – –

REGULATORY ASSETS (Tables)

REGULATORY ASSETS (Tables)	9 Months Ended
	Sep. 30, 2016
REGULATORY ASSETS [Abstract]
Regulatory assets, net of amortization, comprise	Regulatory assets, net of amortization, comprise: (in thousands) September 30, 2016 December 31, 2015 Postretirement benefit obligation $ 329 $ 329 Debt issuance costs 1,656 1,747 Deferred income taxes 435 446 Goodwill 312 318 Deferred acquisition and franchise costs 692 720 Expense of rate and regulatory proceedings 212 616 $ 3,636 $ 4,176

NET INCOME PER COMMON SHARE A18

NET INCOME PER COMMON SHARE AND EQUITY PER COMMON SHARE (Tables)	9 Months Ended
	Sep. 30, 2016
NET INCOME PER COMMON SHARE AND EQUITY PER COMMON SHARE [Abstract]
Shares used in computing basic and diluted net income per share	The following table summarizes the shares used in computing basic and diluted net income per share: For the Three Months Ended September 30, For the Nine Months Ended September 30, 2016 2015 2016 2015 (in thousands) (in thousands) Weighted average common shares outstanding during the period for Basic computation 9,112 8,960 9,090 8,935 Dilutive effect of employee stock options 65 40 64 37 Weighted average common shares outstanding during the period for Diluted computation 9,177 9,000 9,154 8,972

FAIR VALUE OF FINANCIAL INSTR19

FAIR VALUE OF FINANCIAL INSTRUMENTS (Tables)	9 Months Ended
	Sep. 30, 2016
FAIR VALUE OF FINANCIAL INSTRUMENTS [Abstract]
Fair value of long-term debt	All of Artesian Resources' outstanding lo ng-term debt as of and was fixed-rate. The fair value of the Company's long-term debt is determined by discounting their future cash flows using current market interest rates on similar instruments with comparable maturities consistent with FASB ASC 825. Under the fair value hierarchy, the fair value of the long-term debt in the table below is classified as Level 2 measurements. The fair values for long-term debt differ from the carrying values primarily due to interest rates that differ from the current market interest rates. The carrying amount and fair value of Artesian Resources' long-term debt are shown below: In thousands September 30, 2016 December 31, 2015 Carrying amount $ 103,911 $ 104,936 Estimated fair value $ 119,558 $ 120,243

GENERAL (Details)

GENERAL (Details)	9 Months Ended
	Sep. 30, 2016SubsidiaryFacilitySquarefeetCustomergal
Number of wholly owned subsidiaries | Subsidiary	8
Number of subsidiaries not regulated | Subsidiary	3
Artesian Development purchased area of office space (in square feet) | Squarefeet	10,000
Artesian Development purchased area of warehouse space (in square feet) | Squarefeet	10,000
Artesian Utility [Member]
Initial contract period of operating wastewater treatment facilities in Middletown	20 years
Number of wastewater treatment station facility operations in Middletown | Facility	2
Number of wastewater treatment facilities in Middletown providing reclaimed wastewater | Facility	1
Number of water service line protection plan customers	19,500
Number of sewer service line protection plan customers	15,100
Percentage of water service line protection plan customers signed up	25.10%
Percentage of sewer service protection plan customer signed up	19.50%
Percentage Of Internal Service Line Protection Plan customer signed up (in hundredths)	1,260
Number of internal service line protection plan customers	3,100
Number Of Non Customers Signed Up With Plan	1,260
Artesian Utility [Member] | Wastewater treatment facility first of two [Member] | Maximum [Member]
Capacity of waste water treatment facilities | gal	2,500,000
Artesian Utility [Member] | Wastewater treatment facility second of two [Member] | Maximum [Member]
Capacity of waste water treatment facilities | gal	250,000

STOCK COMPENSATION PLANS (Detai

STOCK COMPENSATION PLANS (Details)	3 Months Ended	6 Months Ended	9 Months Ended		12 Months Ended
	Sep. 30, 2016USD ($)$ / sharesshares	Jun. 30, 2016USD ($)$ / sharesshares	Sep. 30, 2016USD ($)Director$ / sharesshares	Sep. 30, 2015USD ($)	Dec. 31, 2014	May 04, 2016$ / sharesshares	Dec. 18, 2015$ / sharesshares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of directors in committee | Director			3
Non-vested shares of Class A Stock under option [Abstract]
Vesting period for granted option			1 year
Options granted term			10 years
Weighted-average assumptions used for grants issued [Abstract]
Expected Dividend Yield					3.88%
Expected Stock Price Volatility					26.50%
Weighted Average Risk-Free Interest Rate					2.24%
Weighted Average Expected Life of Options					7 years 6 months 7 days
Restricted Stock [Member]
Share Based Compensation Arrangement By Share Based Payment Award Nonvested Options Outstanding [Roll Forward]
Outstanding at beginning of period, Non-vested option shares (in shares) | shares		0	0
Granted, option shares (in shares) | shares			5,000
Vested, option shares (in shares) | shares			0
Cancelled, option shares (in shares) | shares			0
Outstanding at end of period, Non-vested option shares (in shares) | shares	5,000		5,000
Non-vested shares of Class A Stock under option [Abstract]
Outstanding at beginning of period, weighted average grant-date fair value per option (in dollars per share) | $ / shares		$ 0	$ 0
Granted, weighted average grant-date fair value per option (in dollars per share) | $ / shares			27.7
Vested, weighted average grant-date fair value per option (in dollars per share) | $ / shares			0
Cancelled, weighted average grant-date fair value per option (in dollars per share) | $ / shares			0
Outstanding at end of period, weighted average grant-date fair value per option (in dollars per share) | $ / shares	$ 27.7		$ 27.7
Class A Stock [Member] | 2005 Equity Compensation Plan [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Compensation expense | $				$ 46,000
Class A Stock [Member] | 2015 Equity Compensation Plan [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Compensation expense | $	$ 35,000		$ 57,000
Unrecognized expense related to non-vested option shares | $	$ 0		$ 0
Number of shares authorizes under the plan (in shares) | shares						5,000	5,000
Fair market value (in dollars per share) | $ / shares						$ 27.7	$ 27.38
Class A Stock [Member] | Stock Options [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding [Roll Forward]
Outstanding at beginning of period, option shares (in shares) | shares		270,000	270,000
Granted, option shares (in shares) | shares			0
Exercised/vested and released, option shares (in shares) | shares			(33,750)
Expired, option shares (in shares) | shares			0
Outstanding at end of period, option shares (in shares) | shares	236,250		236,250
Exercisable/vested at end of period, option share (in shares) | shares	236,250		236,250
Shares of Class A Non-Voting Common Stock under option [Abstract]
Outstanding at beginning of period, weighted average exercise price (in dollars per shares) | $ / shares		$ 19.34	$ 19.34
Granted, weighted average exercise price (in dollars per share) | $ / shares			0
Exercised/vested and released, weighted average exercise price (in dollars per shares) | $ / shares			19.64
Expired/cancelled, weighted average exercise price (in dollars per share) | $ / shares			0
Outstanding at end of period, weighted average exercise price (in dollars per shares) | $ / shares	$ 19.30		19.30
Exercisable/vested at end of period, weighted average exercise price (in dollars per shares) | $ / shares	$ 19.30		$ 19.30
Outstanding at end of period, weighted average remaining life			4 years 7 months 2 days
Exercisable/vested at end of period, weighted average remaining life			4 years 7 months 2 days
Outstanding at beginning of period, aggregate intrinsic value | $		$ 2,256,000	$ 2,256,000
Granted, aggregate intrinsic value | $			0
Exercised/ vested and released, aggregate intrinsic value | $			286,000
Expired/cancelled, aggregate intrinsic value | $		$ 0
Outstanding at end of period, aggregate intrinsic value | $	$ 2,182,000		2,182,000
Exercisable/vested at end of period, aggregate intrinsic value | $	$ 2,182,000		$ 2,182,000
Class A Stock [Member] | Restricted Stock [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding [Roll Forward]
Outstanding at beginning of period, option shares (in shares) | shares		0	0
Granted, option shares (in shares) | shares		5,000
Exercised/vested and released, option shares (in shares) | shares		0
Expired, option shares (in shares) | shares		0
Outstanding at end of period, option shares (in shares) | shares	5,000		5,000
Exercisable/vested at end of period, option share (in shares) | shares	0		0
Shares of Class A Non-Voting Common Stock under option [Abstract]
Outstanding at beginning of period, weighted average exercise price (in dollars per shares) | $ / shares		$ 0	$ 0
Granted, weighted average exercise price (in dollars per share) | $ / shares			27.70
Exercised/vested and released, weighted average exercise price (in dollars per shares) | $ / shares			0
Expired/cancelled, weighted average exercise price (in dollars per share) | $ / shares			0
Outstanding at end of period, weighted average exercise price (in dollars per shares) | $ / shares	$ 27.70		27.70
Exercisable/vested at end of period, weighted average exercise price (in dollars per shares) | $ / shares	$ 0		$ 0
Class A Stock [Member] | Restricted Stock [Member] | 2015 Equity Compensation Plan [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Unrecognized expense related to non-vested option shares | $	$ 82,000		$ 82,000
Period over which unvested options cost will recognized			7 months 2 days

REGULATORY ASSETS (Details)

REGULATORY ASSETS (Details) - USD ($)	9 Months Ended
	Sep. 30, 2016	Dec. 31, 2015
Regulatory Assets [Line Items]
Regulatory assets, net	$ 3,636,000	$ 4,176,000
Period over which depreciation and salary study expenses amortized	5 years
Period over which Delaware rate proceedings and applications expenses amortized	two and a half
Period over which Maryland rate proceedings and applications expenses amortized	5 years
Period over which goodwill amortized	50 years
Period over which Port Deposit and Cecil County deferred acquisition costs amortized	20 years
Period over which Cecil County deferred franchise costs amortized	80 years
Artesian Water contributed to its postretirement benefit plan	$ 66,000
Maximum [Member]
Regulatory Assets [Line Items]
Amortization period of debt issuance costs	30 years
Minimum [Member]
Regulatory Assets [Line Items]
Amortization period of debt issuance costs	10 years
Postretirement Benefit Obligation [Member]
Regulatory Assets [Line Items]
Regulatory assets, net	$ 329,000	329,000
Debt Issuance Costs [Member]
Regulatory Assets [Line Items]
Regulatory assets, net	1,656,000	1,747,000
Deferred Income Taxes [Member]
Regulatory Assets [Line Items]
Regulatory assets, net	435,000	446,000
Goodwill [Member]
Regulatory Assets [Line Items]
Regulatory assets, net	312,000	318,000
Deferred Acquisition and Franchise Costs [Member]
Regulatory Assets [Line Items]
Regulatory assets, net	692,000	720,000
Expense of Rate and Regulatory Proceedings [Member]
Regulatory Assets [Line Items]
Regulatory assets, net	$ 212,000	$ 616,000

NET INCOME PER COMMON SHARE A23

NET INCOME PER COMMON SHARE AND EQUITY PER COMMON SHARE (Details) - $ / shares	3 Months Ended		9 Months Ended		12 Months Ended
	Sep. 30, 2016	Sep. 30, 2015	Sep. 30, 2016	Sep. 30, 2015	Dec. 31, 2015
Shares used in computing basic and diluted net income per share [Abstract]
Weighted average common shares outstanding during the period for Basic computation (in shares)	9,112,000	8,960,000	9,090,000	8,935,000
Dilutive effect of employee stock options (in shares)	65,000	40,000	64,000	37,000
Weighted average common shares outstanding during the period for Diluted computation (in shares)	9,177,000	9,000,000	9,154,000	8,972,000
Common stock excluded from calculations of diluted net income per share (in shares)			3,780
Class A Stock [Member]
Class of Stock [Line Items]
Common stock, shares authorized (in shares)	15,000,000		15,000,000
Common stock, shares issued (in shares)	8,232,645	8,119,781	8,232,645	8,119,781
Common stock, shares outstanding (in shares)	8,232,645	8,119,781	8,232,645	8,119,781
Common stock, par value (in dollars per share)	$ 1		$ 1
Common stock, shares issued during period (in shares)	7,352	72,200	56,432	89,104
Equity per common share (in dollars per share)			$ 14.95		$ 14.77
Class B Stock [Member]
Class of Stock [Line Items]
Common stock, shares authorized (in shares)	1,040,000		1,040,000
Common stock, shares issued (in shares)	881,452	881,452	881,452	881,452
Common stock, shares outstanding (in shares)	881,452	881,452	881,452	881,452
Common stock, par value (in dollars per share)	$ 1		$ 1

REGULATORY PROCEEDINGS (Details

REGULATORY PROCEEDINGS (Details) - USD ($)	May 31, 2016	Nov. 24, 2015	May 31, 2015	Nov. 13, 2014	Sep. 30, 2016	Sep. 30, 2015	Sep. 30, 2016	Sep. 30, 2015	Aug. 18, 2015	Apr. 11, 2014
Delaware [Member]
Rate Proceedings [Abstract]
Percentage of gross water sales							15.00%
Period to complete rate case by law							7 months
Delaware [Member] | Maximum [Member]
Rate Proceedings [Abstract]
Temporary annual rate increase subject to 15% gross water sales limitation							$ 2,500,000
Percentage of rate relief allowed should a rate case not complete							15.00%
Other Proceedings [Abstract]
Distribution System Improvement Charge rate increase applied between base rate filings							7.50%
Distribution System Improvement Charge rate increase within a 12-month period							5.00%
Artesian Water [Member]
Rate Proceedings [Abstract]
Percentage of revenue increase in a filed request to implement new rates										15.90%
Amount of annual revenue increase in a filed request to implement new rates										$ 10,000,000
Authorized rate increase in annualized basis revenue									$ 6,000,000
Incremental increase to customers									6.20%
Percentage increase in annual operating revenue due to temp rate increase in effect									9.50%
Other Proceedings [Abstract]
Percentage of Distribution System Improvement Charges annual rate increase application filed by company to regulatory	2.30%	1.57%	1.15%	0.34%
Increase in revenue due to DSIC rate increase application, annually	$ 10,300,000	$ 7,000,000	$ 4,600,000	$ 1,300,000
Revenue earned in DSIC rate increases					$ 432,000	$ 218,000	$ 938,000	$ 340,000

INCOME TAXES (Details)

INCOME TAXES (Details) - USD ($)	3 Months Ended		9 Months Ended
	Sep. 30, 2016	Sep. 30, 2015	Sep. 30, 2016	Sep. 30, 2015
Income Tax Examination [Line Items]
Income tax penalties and interest accrued for unrecognized tax position	$ 400	$ 5,000	$ 3,300	$ 11,000
Deferred tax assets, net	$ 201,000		201,000
State Authorities [Member] | Tax Year 2013 [Member] | Minimum [Member]
Income Tax Examination [Line Items]
Open tax year	2,013
State Authorities [Member] | Tax Year 2015 [Member] | Maximum [Member]
Income Tax Examination [Line Items]
Open tax year	2,015
Federal Authorities [Member]
Income Tax Examination [Line Items]
Deduction on tax return for qualifying capital expenditures made			$ 1,400,000
Federal Authorities [Member] | Tax Year 2015 [Member]
Income Tax Examination [Line Items]
Open tax year			2,015

FAIR VALUE OF FINANCIAL INSTR26

FAIR VALUE OF FINANCIAL INSTRUMENTS (Details) - USD ($) $ in Thousands	Sep. 30, 2016	Dec. 31, 2015
Carrying Amount [Member]
Long-term Financial Liabilities [Abstract]
Long-term debt	$ 103,911	$ 104,936
Estimated Fair Value [Member]
Long-term Financial Liabilities [Abstract]
Long-term debt	$ 119,558	$ 120,243

RELATED PARTY TRANSACTIONS (Det

RELATED PARTY TRANSACTIONS (Details) - USD ($)	Jul. 31, 2016	May 31, 2015	Sep. 30, 2016	Sep. 30, 2016	Sep. 30, 2015	Dec. 31, 2015
Related Party Transaction [Line Items]
Stock ownership required to be disclosed, minimum			5.00%	5.00%
W.F. Construction [Member]
Related Party Transaction [Line Items]
Contract to repair water treatment plant	$ 131,000	$ 48,000
Amounts paid			$ 0	$ 0	$ 48,000
Accounts payable balance due						$ 0
Accrued liabilities			$ 66,000	$ 66,000