REVENUE RECOGNITION AND REIMBURSABLE COSTS (Tables)

3 Months Ended

Nov. 30, 2020

REVENUE RECOGNITION AND REIMBURSABLE COSTS [Abstract]

The following table summarizes the amounts the Company paid, what was repaid by the Sky Ranch CAB and amounts still owed to the Company by the Sky Ranch CAB:

	As of November 30, 2020
	Costs incurred to date		Payments repaid by Sky Ranch CAB		Amounts payable to Pure Cycle by the Sky Ranch CAB
	(In thousands)
Public Improvements	$	28,008	$	10,505	$	17,503
Accrued interest		1,456		—		1,456
Project management services		1,496		—		1,496
Construction support activities		683		—		683
Total reimbursable costs	$	31,643	$	10,505	$	21,138

Deferred Revenue and Changes in Deferred Revenue

Deferred revenue by segment is as follows:

	November 30, 2020		August 31, 2020
	(In thousands)
Land development segment	$	1,462	$	1,636
Water and wastewater resource development segment		713		1,965
Balance, end of period	$	2,175	$	3,601

Changes in deferred revenue were as follows:

	November 30, 2020
	(In thousands)
Balance, August 31, 2020	$	3,601
Deferral of revenue		2,182
Recognition of unearned revenue		(3,608	)
Balance, November 30, 2020	$	2,175