| Investments in Water and Water Systems |
The Company’s water and water systems consist of the following:
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August 31, 2023 |
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August 31, 2022 |
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Accumulated |
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Accumulated |
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Depreciation |
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Depreciation |
(In thousands) |
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Costs |
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and Depletion |
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Costs |
|
and Depletion |
Rangeview water system |
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$ |
20,020 |
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$ |
(2,813) |
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$ |
19,881 |
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$ |
(2,099) |
Rangeview water supply |
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15,084 |
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(18) |
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14,809 |
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(17) |
Water supply – Other |
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7,612 |
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(2,064) |
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7,612 |
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(1,739) |
Sky Ranch water rights and other costs |
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7,764 |
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(1,487) |
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7,764 |
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(1,280) |
Sky Ranch pipeline |
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5,740 |
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(1,175) |
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5,740 |
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(984) |
Lost Creek water supply |
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7,328 |
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— |
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7,041 |
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— |
Fairgrounds water and water system |
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2,900 |
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(1,503) |
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2,900 |
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(1,415) |
Wild Pointe service rights |
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1,632 |
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(1,222) |
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1,632 |
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(1,082) |
Totals |
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68,080 |
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(10,282) |
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67,379 |
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(8,616) |
Net investments in water and water systems |
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$ |
57,798 |
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$ |
58,763 |
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| Useful Life By Asset Class |
The following table presents the estimated useful lives by asset class used for calculating depreciation and depletion charges:
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Assets Classes |
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Estimated Useful Lives |
Wild Pointe |
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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 |
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| Land and Mineral Interest |
As of August 31, the costs allocated to the Company’s land held for development is as follows:
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August 31, 2023 |
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August 31, 2022 |
Sky Ranch land |
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$ |
1,982 |
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$ |
2,482 |
Sky Ranch development costs |
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|
2,452 |
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|
4,073 |
Lost Creek land |
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|
218 |
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|
218 |
Net land and mineral interests held for development |
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$ |
4,652 |
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$ |
6,773 |
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