Annual report pursuant to Section 13 and 15(d)

Contracts Receivable Including Retainage, net

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Contracts Receivable Including Retainage, net
 12 Months Ended
Sep. 30, 2024
Contractors [Abstract]  
Contracts Receivable Including Retainage, net Contracts Receivable Including Retainage, net
Contracts receivable including retainage, net consisted of the following at September 30, 2024, 2023, and 2022 (in thousands):
September 30,
2024 2023 2022
Contracts receivable $ 299,156  $ 251,324  $ 221,566 
Retainage 52,728  53,286  44,253 
351,884  304,610  265,819 
Allowance for credit losses (1,073) (906) (612)
Contracts receivable including retainage, net $ 350,811  $ 303,704  $ 265,207 
The following is a summary of changes in the allowance for credit losses balance during the fiscal years ended September 30, 2024, 2023, and 2022 (in thousands):
For the Fiscal Year Ended 
September 30,
2024 2023 2022
Balance at beginning of period $ 906  $ 612  $ 1,926 
Charged (credited) to bad debt expense 491  456  (947)
Write-off of contracts receivable including retainage (324) (162) (367)
Balance at end of period $ 1,073  $ 906  $ 612 
Retainage receivables are amounts earned by the Company but held by customers until contracts are near completion or fully completed.