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WATER AND LAND ASSETS
 3 Months Ended
Nov. 30, 2018
WATER AND LAND ASSETS [Abstract]  
WATER AND LAND ASSETS
NOTE 3 – WATER AND LAND ASSETS

The Company’s water rights and current water and wastewater service agreements are more fully described in Note 4 – Water and Land Assets in Part II, Item 8 of the 2018 Annual Report. There have been no significant changes to the Company’s water rights or water and wastewater service agreements during the three months ended November 30, 2018.

Investment in Water and Water Systems

The Company’s Investments in Water and Water Systems consist of the following costs and accumulated depreciation and depletion at November 30, 2018 and August 31, 2018:

  
November 30, 2018
  
August 31, 2018
 
  
Costs
  
Accumulated
Depreciation
and Depletion
  
Costs
  
Accumulated
Depreciation
and Depletion
 
Rangeview water supply
 
$
14,818,200
  
$
(13,400
)
 
$
14,813,800
  
$
(12,800
)
Sky Ranch water rights and other costs
  
7,237,100
   
(602,900
)
  
7,171,700
   
(561,400
)
Fairgrounds water and water system
  
2,899,900
   
(1,084,900
)
  
2,899,900
   
(1,062,900
)
Rangeview water system
  
1,823,700
   
(274,800
)
  
1,655,600
   
(261,200
)
Water supply – other
  
4,431,000
   
(686,400
)
  
4,337,200
   
(625,300
)
Wild Pointe service rights
  
1,631,700
   
(267,700
)
  
1,631,700
   
(267,700
)
Sky Ranch pipeline
  
5,688,900
   
(269,000
)
  
5,615,900
   
(222,000
)
Construction in progress
  
3,578,300
   
—
   
1,609,400
   
—
 
Totals
  
42,108,800
   
(3,199,100
)
  
39,735,200
   
(3,013,300
)
Net investments in water and water systems
 
$
38,909,700
      
$
36,721,900
     

Capitalized terms in this section not defined herein are defined in Note 4 – Water and Land Assets in Part II, Item 8 of the 2018 Annual Report.

Depletion and Depreciation

The Company recorded depletion charges of $600 and $100 during the three months ended November 30, 2018 and 2017, respectively. The depletion was related entirely to the Rangeview Water Supply.

The Company recorded $238,700 and $175,000 of depreciation expense during the three months ended November 30, 2018 and 2017, respectively. These figures include depreciation for other equipment not included in the table above.