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WATER AND LAND ASSETS (Tables)
 12 Months Ended
Aug. 31, 2018
WATER AND LAND ASSETS [Abstract]  
Water and Water Systems
The Company’s water and water systems consist of the following approximate costs and accumulated depreciation and depletion as of August 31:

  
August 31, 2018
  
August 31, 2017
 
  
Costs
  
Accumulated
Depreciation
and Depletion
  
Costs
  
Accumulated
Depreciation
and Depletion
 
Rangeview water supply
 
$
14,813,800
  
$
(12,800
)
 
$
14,529,600
  
$
(10,600
)
Sky Ranch water rights and other costs
  
8,514,100
   
(561,400
)
  
6,725,000
   
(436,300
)
Fairgrounds water and water system
  
2,899,900
   
(1,062,900
)
  
2,899,900
   
(974,800
)
Rangeview water system
  
1,655,600
   
(261,200
)
  
1,639,000
   
(207,000
)
Water supply – other
  
4,337,200
   
(625,300
)
  
4,058,900
   
(401,300
)
Wild Pointe service rights
  
1,631,700
   
(267,700
)
  
1,631,700
   
(213,000
)
Sky Ranch pipeline
  
5,615,900
   
(222,000
)
  
4,700,000
   
(39,200
)
Construction in progress
  
267,000
   
—
   
673,800
   
—
 
Totals
  
39,735,200
   
(3,013,300
)
  
36,857,900
   
(2,282,200
)
Net investments in water and water systems
 
$
36,721,900
      
$
34,575,700
     
Depletion and Depreciation
These figures include depreciation for other equipment not included in the table above.

Assets Classes
 
Estimated Useful Lives
Wild Pointe
 
Units of production depletion
Rangeview water supply
 
Units of production depletion
Rangeview, Sky Ranch and WISE water systems
 
30 years
ECCV wells
 
10 years
Furniture and fixtures
 
5 years
Trucks and heavy equipment
 
5 years
Water system general (pumps, valves, etc.)
 
5 years
Computers
 
3 years
Water equipment
 
3 years
Software
 
1 year
Land and Mineral Interest Costs
As of August 31, the approximate costs allocated to the Company’s land and mineral interest are as follows:

  
August 31, 2018
  
August 31, 2017
 
Sky Ranch land (1)
 
$
3,037,557
  
$
3,623,348
 
Sky Ranch development costs (2)
  
196,553
   
1,199,564
 
Arkansas Valley mineral rights
  
1,425,459
   
1,425,459
 
Net land and mineral interests
  
4,659,569
   
6,248,371
 

(1)
The Company transferred $585,700 of Sky Ranch land costs to Inventories related to the initial phase of development, consisting of 151 acres, which began in fiscal 2018.

(2)
The Company transferred the $1.2 million balance for fiscal 2017 of Sky Ranch development costs to Inventories related to the sale of 150 platted lots in fiscal 2018.  The $196,500 balance are capitalized development costs not related to the sale of 150 platted lots.