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WATER AND LAND ASSETS | 6 Months Ended
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Feb. 28, 2019
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 six months ended February 28, 2019. 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 February 28, 2019 and August 31, 2018:
|  | February 28, 2019 |  |  | August 31, 2018 |
|  | Costs |  |  | Accumulated Depreciation and Depletion |  |  | Costs |  |  | Accumulated Depreciation and Depletion |
Rangeview Water Supply |  | $ | 14,820,700 |  |  | $ | (13,500 | ) |  | $ | 14,813,800 |  |  | $ | (12,800 | )
Sky Ranch water rights and other costs |  |  | 7,338,100 |  |  |  | (652,600 | ) |  |  | 7,171,700 |  |  |  | (561,400 | )
Fairgrounds water and water system |  |  | 2,899,900 |  |  |  | (1,106,900 | ) |  |  | 2,899,900 |  |  |  | (1,062,900 | )
Rangeview water system |  |  | 2,679,100 |  |  |  | (288,800 | ) |  |  | 1,655,600 |  |  |  | (261,200 | )
Water Supply – Other |  |  | 4,535,600 |  |  |  | (748,700 | ) |  |  | 4,337,200 |  |  |  | (625,300 | )
Wild Pointe service rights |  |  | 1,631,700 |  |  |  | (267,700 | ) |  |  | 1,631,700 |  |  |  | (267,700 | )
Sky Ranch pipeline |  |  | 5,697,400 |  |  |  | (316,400 | ) |  |  | 5,615,900 |  |  |  | (222,000 | )
Construction in progress |  |  | 5,785,400 |  |  |  | — |  |  |  | 1,609,400 |  |  |  | — |
Totals |  |  | 45,387,900 |  |  |  | (3,394,600 | ) |  |  | 39,735,200 |  |  |  | (3,013,300 | )
Net investments in water and water systems |  | $ | 41,993,300 |  |  |  |  |  |  | $ | 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. Construction in progress primarily consists of capital water projects at Sky Ranch, including the wastewater facility, the water storage tank and the water pump station. Depletion and Depreciation The Company recorded depletion charges of $200 and $900 during the three months ended February 28, 2019 and 2018, respectively, and $800 and $1,000 during the six months ended February 28, 2019 and 2018, respectively. The depletion was related entirely to the Rangeview Water Supply. The Company recorded $251,300 and $169,700 of depreciation expense during the three months ended February 28, 2019 and 2018, respectively. The Company recorded $491,000 and $344,700 of depreciation expense during the six months ended February 28, 2019 and 2018, respectively. These figures include depreciation for other equipment not included in the table above.

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- Definition The entire disclosure for long-lived, physical assets used in the normal conduct of business and not intended for resale. Includes, but is not limited to, accounting policies and methodology, roll forwards, depreciation, depletion and amortization expense, including composite depreciation, accumulated depreciation, depletion and amortization expense, useful lives and method used, income statement disclosures, assets held for sale and public utility disclosures. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 360 -URI http://asc.fasb.org/topic&trid=2155823 + Details
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