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WATER AND LAND ASSETS (Tables)
 12 Months Ended
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.