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WATER AND LAND ASSETS (Tables) | 12 Months Ended
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Aug. 31, 2019
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, 2019 |  |  | August 31, 2018 |
|  | Costs |  |  | Accumulated Depreciation and Depletion |  |  | Costs |  |  | Accumulated Depreciation and Depletion |
Rangeview water supply |  | $ | 14,823,800 |  |  | $ | (14,700 | ) |  | $ | 14,813,800 |  |  | $ | (12,800 | )
Sky Ranch water rights and other costs |  |  | 7,371,500 |  |  |  | (757,400 | ) |  |  | 8,514,100 |  |  |  | (561,400 | )
Fairgrounds water and water system |  |  | 2,899,800 |  |  |  | (1,151,000 | ) |  |  | 2,899,900 |  |  |  | (1,062,900 | )
Rangeview water system |  |  | 5,617,800 |  |  |  | (372,300 | ) |  |  | 1,655,600 |  |  |  | (261,200 | )
Water supply – other |  |  | 4,758,200 |  |  |  | (860,100 | ) |  |  | 4,337,200 |  |  |  | (625,300 | )
Wild Pointe service rights |  |  | 1,631,800 |  |  |  | (489,800 | ) |  |  | 1,631,700 |  |  |  | (267,700 | )
Sky Ranch pipeline |  |  | 5,723,700 |  |  |  | (411,600 | ) |  |  | 5,615,900 |  |  |  | (222,000 | )
Lost Creek water supply |  |  | 3,324,000 |  |  |  | — |  |  |  | — |  |  |  | — |
Construction in progress |  |  | 8,176,600 |  |  |  | — |  |  |  | 267,000 |  |  |  | — |
Totals |  |  | 54,327,200 |  |  |  | (4,056,900 | ) |  |  | 39,735,200 |  |  |  | (3,013,300 | )
Net investments in water and water systems |  | $ | 50,270,300 |  |  |  |  |  |  | $ | 36,721,900 |  |  |  |  |
Depletion and Depreciation |
Assets Classes |  | Estimated Useful Lives
Wild Pointe |  | Units of production depletion
Rangeview water supply |  | Units of production depletion
Lost Creek 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, 2019 |  |  | August 31, 2018 |
Sky Ranch land (1) |  | $ | 3,037,556 |  |  | $ | 3,037,557 |
Sky Ranch development costs |  |  | 423,324 |  |  |  | 196,553 |
Lost Creek land |  |  | 218,138 |  |  |  | — |
Arkansas Valley mineral rights |  |  | 1,425,459 |  |  |  | 1,425,459 |
Net land and mineral interests |  |  | 5,104,477 |  |  |  | 4,659,569 |
(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.

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