Quarterly report pursuant to Section 13 or 15(d)

PRESENTATION OF INTERIM INFORMATION, Revenue Recognition (Details)

v3.20.2
PRESENTATION OF INTERIM INFORMATION, Revenue Recognition (Details)
gal in Millions
 3 Months Ended 9 Months Ended 12 Months Ended
Nov. 19, 2019
USD ($)
May 31, 2020
USD ($)
a
gal
May 31, 2019
USD ($)
HomeBuilders
Lot
gal
May 31, 2020
USD ($)
a
BusinessLine
Source
HomeBuilders
Lot
Agreement
gal
May 31, 2019
USD ($)
HomeBuilders
Lot
gal
Aug. 31, 2019
USD ($)
Revenue Recognition [Abstract]            
Number of business lines | BusinessLine       2    
Number of revenue sources | Source       4    
Total revenues   $ 1,850,121 $ 5,184,663 $ 15,829,730 $ 10,887,631  
Deferred revenues, current   $ 2,526,155   $ 2,526,155   $ 3,991,535
Land [Abstract]            
Area of land (in acres) | a   930   930    
Number of home builders | HomeBuilders       3    
Contract revenues recognized       $ 16,014,951   $ 20,417,242
Deferred interest income   $ 1,052,900   1,052,900    
Net proceeds from sale of bonds $ 10,500,000          
Net proceeds used to reduce remaining capital expenses in inventories       4,200,000    
Reimbursement of construction costs   $ 0 $ 0 $ 6,275,500 $ 0  
Percentage of expected increase in revenues, reimbursed costs       27.00%    
Construction support amount invoiced       $ 581,100    
Senior Bonds [Member]            
Land [Abstract]            
Aggregate principal amount of bonds 11,435,000          
Subordinate Bonds [Member]            
Land [Abstract]            
Aggregate principal amount of bonds $ 1,765,000          
Facilities Funding and Acquisition Agreement [Member]            
Land [Abstract]            
Interest rate   6.00%   6.00%    
Metered Water Usage [Member]            
Revenue Recognition [Abstract]            
Water delivered to customers | gal   12.2 96.9 32.4 232.3  
Percentage of water used for oil and gas exploration   0.00% 93.00% 3.00% 85.00%  
Total revenues   $ 97,747 $ 39,567 $ 237,952 $ 157,173  
Water Tap Fees [Member]            
Revenue Recognition [Abstract]            
Total revenues   852,800 929,400 3,200,000 1,500,000  
Wastewater Tap Fees [Member]            
Revenue Recognition [Abstract]            
Total revenues   152,100 153,800 602,900 256,300  
Special Facility Funding Recognized [Member]            
Revenue Recognition [Abstract]            
Total revenues   0 0 0 0  
Consulting Fees [Member]            
Revenue Recognition [Abstract]            
Total revenues   13,800 37,900 104,000 148,200  
Lot Sales [Member]            
Revenue Recognition [Abstract]            
Total revenues   696,170 2,708,093 11,503,523 6,035,670  
Lot Sales - Agreement with Purchaser [Member]            
Revenue Recognition [Abstract]            
Total revenues   0 $ 1,770,000 $ 2,836,700 $ 2,070,000  
Land [Abstract]            
Number of home builders | HomeBuilders     1 1 1  
Number of finished lots sold | Lot     25 41 29  
Lot Sales - Agreement with Builders [Member]            
Revenue Recognition [Abstract]            
Total revenues   696,200 $ 938,100 $ 8,666,800 $ 3,965,700  
Deferred revenues, current   2,526,200   2,526,200    
Land [Abstract]            
Proceeds from sale of lots       $ 21,000,000    
Number of home builders | HomeBuilders       2    
Number of platted lots sold | Lot       293    
Number of finished lots sold | Lot       293    
Contract revenues recognized       $ 18,600,000    
Lot Sales - Agreement with Builders [Member] | Maximum [Member]            
Land [Abstract]            
Expected delivery period for lots sold       1 year    
Project Management Services [Member]            
Land [Abstract]            
Number of service agreements | Agreement       2    
Project management fee percentage       5.00%    
Project management services - accrued reimbursable amount   $ 1,371,600   $ 1,371,600