| Water and Water Systems |
The Company’s water and water systems consist of the following approximate costs and accumulated depreciation and depletion as of August 31:
| |
|
August 31, 2018 |
|
|
August 31, 2017 |
|
| |
|
Costs |
|
|
Accumulated
Depreciation
and Depletion
|
|
|
Costs |
|
|
Accumulated
Depreciation
and Depletion
|
|
Rangeview water supply |
|
$ |
14,813,800 |
|
|
$ |
(12,800 |
) |
|
$ |
14,529,600 |
|
|
$ |
(10,600 |
) |
Sky Ranch water rights and other costs |
|
|
8,514,100 |
|
|
|
(561,400 |
) |
|
|
6,725,000 |
|
|
|
(436,300 |
) |
Fairgrounds water and water system |
|
|
2,899,900 |
|
|
|
(1,062,900 |
) |
|
|
2,899,900 |
|
|
|
(974,800 |
) |
Rangeview water system |
|
|
1,655,600 |
|
|
|
(261,200 |
) |
|
|
1,639,000 |
|
|
|
(207,000 |
) |
Water supply – other |
|
|
4,337,200 |
|
|
|
(625,300 |
) |
|
|
4,058,900 |
|
|
|
(401,300 |
) |
Wild Pointe service rights |
|
|
1,631,700 |
|
|
|
(267,700 |
) |
|
|
1,631,700 |
|
|
|
(213,000 |
) |
Sky Ranch pipeline |
|
|
5,615,900 |
|
|
|
(222,000 |
) |
|
|
4,700,000 |
|
|
|
(39,200 |
) |
Construction in progress |
|
|
267,000 |
|
|
|
— |
|
|
|
673,800 |
|
|
|
— |
|
Totals |
|
|
39,735,200 |
|
|
|
(3,013,300 |
) |
|
|
36,857,900 |
|
|
|
(2,282,200 |
) |
Net investments in water and water systems |
|
$ |
36,721,900 |
|
|
|
|
|
|
$ |
34,575,700 |
|
|
|
|
|
|
| Land and Mineral Interest Costs |
As of August 31, the approximate costs allocated to the Company’s land and mineral interest are as follows:
| |
|
August 31, 2018 |
|
|
August 31, 2017 |
|
Sky Ranch land (1) |
|
$ |
3,037,557 |
|
|
$ |
3,623,348 |
|
Sky Ranch development costs (2) |
|
|
196,553 |
|
|
|
1,199,564 |
|
Arkansas Valley mineral rights |
|
|
1,425,459 |
|
|
|
1,425,459 |
|
Net land and mineral interests |
|
|
4,659,569 |
|
|
|
6,248,371 |
|
| (1) |
The Company transferred $585,700 of Sky Ranch land costs to Inventories related to the initial phase of development, consisting of 151 acres, which began in fiscal 2018. |
| (2) |
The Company transferred the $1.2 million balance for fiscal 2017 of Sky Ranch development costs to Inventories related to the sale of 150 platted lots in fiscal 2018. The $196,500 balance are capitalized development costs not related to the sale of 150 platted lots. |
|