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Supporting Financial Information (Tables)
 3 Months Ended
Dec. 31, 2020
Organization, Consolidation and Presentation of Financial Statements [Abstract]  
Schedule of Accounts Receivable
Accounts receivable
(in thousands)
December 31,September 30,
Ref20202020
Billed receivables$29,309 $24,598 
Contract assets15,576 7,943 
Total accounts receivable44,885 32,541 
Less: Allowance for doubtful accounts(a)— — 
Accounts receivable, net$44,885 $32,541 

Ref (a): Accounts receivable are non-interest bearing, unsecured and carried at net realizable value. We evaluate our receivables on a quarterly basis and determine whether an allowance is appropriate based on specific collection issues. No allowance for doubtful accounts was deemed necessary at either December 31, 2020 or September 30, 2020.
Schedule of Other Current Assets
Other current assets
(in thousands)
December 31,September 30,
20202020
Prepaid insurance and benefits$431 $665 
Other receivables1,617 1,363 
Other prepaid expenses1,420 1,471 
Other current assets$3,468 $3,499 
Schedule of Equipment and Improvements, Net
Equipment and improvements, net
(in thousands)
December 31,September 30,
Ref20202020
Furniture and equipment$958 $958 
Computer equipment1,212 1,171 
Computer software4,353 4,341 
Leasehold improvements1,595 1,595 
Total equipment and improvements8,118 8,065 
Less accumulated depreciation and amortization(5,142)(4,726)
Equipment and improvements, net(a)$2,976 $3,339 

Ref (a): Depreciation expense was $0.4 million and $0.7 million for the three months ended December 31, 2020 and 2019, respectively.
Schedule of Intangible Assets
Intangible assets
(in thousands)
December 31,September 30,
Ref20202020
Intangible assets(a)
Customer contracts and related customer relationships$62,281 $45,600 
Covenants not to compete522 480 
Trade name3,051 2,109 
Acquired intangibles - IBA acquisition(b)— 16,223 
Total intangible assets65,854 64,412 
Less accumulated amortization
Customer contracts and related customer relationships(12,707)(11,150)
Covenants not to compete(225)(212)
Trade name(514)(438)
Total accumulated amortization(13,446)(11,800)
Intangible assets, net$52,408 $52,612 
Ref (a): Intangible assets subject to amortization. The intangibles are amortized on a straight-line basis over their estimated useful lives of 10 years. The total amount of amortization expense was $1.6 million and $1.2 million for the three months ended December 31, 2020 and 2019, respectively.

Ref (b): Intangible assets reported at September 30, 2020 from the acquisition of IBA were based on an estimate and subject to revision. As of December 31, 2020, a third party valuation was completed and of the $17.7 million intangible assets acquired from the acquisition of IBA, $16.7 million was allocated to customer contracts and customer relationships, $0.1 million to covenants not to compete, and $0.9 million to trade name.
Schedule of Estimated Amortization of Intangible Assets
Estimated amortization expense for future years:(in thousands)
Remaining Fiscal 2021$4,939 
Fiscal 20226,585 
Fiscal 20236,585 
Fiscal 20246,585 
Fiscal 20256,585 
Thereafter21,129 
Total amortization expense$52,408 
Schedule of Changes in Carrying Amount of Goodwill
Goodwill

The changes in the carrying amount of goodwill as of December 31, 2020 are as follows:
(in thousands)
RefTotal
Balance at September 30, 2019$52,758 
Preliminary increase from IBA acquisition14,386 
Balance at September 30, 202067,144 
Adjustment from IBA acquisition(a)(1,694)
Balance at December 31, 2020$65,450 
Ref (a): The adjustment was determined based on third party valuation.
Schedule of Accounts Payable, Accrued Expenses, and Other Current Liabilities
Accounts payable, accrued expenses, and other current liabilities
(in thousands)
December 31,September 30,
20202020
Accounts payable$14,195 $14,645 
Accrued benefits2,719 2,833 
Accrued bonus and incentive compensation591 2,340 
Accrued workers' compensation insurance6,067 5,529 
Other accrued expenses3,820 3,231 
Accounts payable, accrued expenses, and other current liabilities$27,392 $28,578 
Schedule of Debt Obligations
Debt obligations
(in thousands)
December 31,September 30,
20202020
Bank revolving line of credit$9,150 $— 
Bank term loan68,250 70,000 
Less unamortized deferred financing costs(2,593)(2,729)
Net bank debt obligations74,807 67,271 
Less current portion of bank debt obligations, net of deferred financing costs(15,884)(6,727)
Long-term portion of bank debt obligations, net of deferred financing costs$58,923 $60,544 
Schedule of Interest Expense
Interest expense
(in thousands)
Three Months Ended
 December 31,
Ref20202019
Interest expense(a)$(870)$(852)
Amortization of deferred financing costs(b)(210)(210)
Other income (expense), net(c)— 121 
Interest expense, net$(1,080)$(941)

Ref (a): Interest expense on borrowing
Ref (b): Amortization of expenses related to term loan and revolving line of credit
Ref (c): Gain on lease modification due to a lease amendment