I think so, the security deposit can be used to cover any money owing.
BTW strictly speaking you can't "not renew" a lease with a tenant.. rather if you don't renew a fixed term lease, it converts to a periodic lease with the same terms. You as the landlord can't opt to not renew the lease and basically force them out; that's not legal.
There's only specific circumstances where a landlord can compel a tenant to leave. Mind you nonpayment of utilities if they committed to pay that would be cause (since that would basically be part of the rent I think).
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Uncertainty is an uncomfortable position.
But certainty is an absurd one.
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