Annual report pursuant to Section 13 and 15(d)

WATER AND LAND ASSETS (Tables)

v3.22.2.2
WATER AND LAND ASSETS (Tables)
12 Months Ended
Aug. 31, 2022
WATER AND LAND ASSETS [Abstract]  
Investments in Water and Water Systems

The Company’s water and water systems consist of the following:

August 31, 2022

August 31, 2021

Accumulated

Accumulated

Depreciation

Depreciation

(In thousands)

    

Costs

    

and Depletion

    

Costs

    

and Depletion

Rangeview water system

$

19,881

$

(2,099)

$

17,526

$

(1,470)

Rangeview water supply

14,809

(17)

14,622

(17)

Water supply – Other

 

7,612

 

(1,739)

 

7,569

 

(1,433)

Sky Ranch water rights and other costs

 

7,764

 

(1,280)

 

7,338

 

(1,087)

Sky Ranch pipeline

 

5,740

 

(984)

 

5,727

 

(793)

Lost Creek water supply

 

7,041

 

 

3,374

 

Fairgrounds water and water system

 

2,900

 

(1,415)

 

2,900

 

(1,327)

Wild Pointe service rights

 

1,632

 

(1,082)

 

1,632

 

(775)

Totals

 

67,379

 

(8,616)

 

60,688

 

(6,902)

Net investments in water and water systems

$

58,763

$

53,786

Useful Life By Asset Class

The following table presents the estimated useful lives by asset class used for calculating depreciation and depletion charges:

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

As of August 31, the costs allocated to the Company’s land is as follows:

    

August 31, 2022

    

August 31, 2021

Sky Ranch land

$

2,482

$

2,601

Sky Ranch development costs

 

4,073

 

3,105

Lost Creek land

 

218

 

218

Net land and mineral interests

$

6,773

$

5,924