Quarterly report pursuant to Section 13 or 15(d)

WATER AND LAND ASSETS

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WATER AND LAND ASSETS
 6 Months Ended
Feb. 28, 2021
WATER AND LAND ASSETS [Abstract]  
WATER AND LAND ASSETS
NOTE 5 – WATER AND LAND ASSETS

The Company’s water rights and current water and wastewater service agreements, including capitalized terms not defined herein, are more fully described in Note 4 – Water and Land Assets in Part II, Item 8 of the 2020 Annual Report.

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, 2021 and August 31, 2020:

   
February 28, 2021
    
August 31, 2020
  
   
Costs
    
Accumulated
Depreciation
and Depletion
    
Costs
    
Accumulated
Depreciation
and Depletion
  
   
(In thousands)
  
Rangeview water supply
  
$
14,573
    
$
(16
)
  
$
14,570
    
$
(15
)
Sky Ranch water rights and other costs
    
7,336
      
(995
)
    
7,499
      
(981
)
Fairgrounds water and water system
    
2,900
      
(1,283
)
    
2,900
      
(1,239
)
Rangeview water system
    
16,960
      
(1,157
)
    
15,948
      
(789
)
Water supply – Other
    
7,548
      
(1,274
)
    
7,550
      
(1,116
)
Wild Pointe service rights
    
1,632
      
(741
)
    
1,632
      
(708
)
Sky Ranch pipeline
    
5,727
      
(698
)
    
5,727
      
(602
)
Lost Creek water supply
    
3,374
      
—
      
3,372
      
—
  
Construction in progress
    
851
      
—
      
1,339
      
—
  
Totals
    
60,901
      
(6,164
)
    
60,537
      
(5,450
)
Net investments in water and water systems
  
$
54,737
            
$
55,087
          

Construction in progress primarily consists of additional water facilities at Sky Ranch. The Company anticipates the additional facilities will be placed in service during fiscal 2021.