Quarterly report pursuant to Section 13 or 15(d)

CONSOLIDATED STATEMENTS OF CASH FLOWS

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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
 9 Months Ended
May 31, 2022
May 31, 2021
Cash flows from operating activities:    
Net income $ 4,044 $ 18,276
Adjustments to reconcile net income to net cash used by operating activities:    
Depreciation and depletion 1,332 1,310
Share-based compensation expense 491 404
Trade accounts receivable 333 (810)
Deferred water sales revenue (18) (1,690)
Land under development (44) (131)
Other assets and liabilities (57) (59)
Deferred income taxes (187) 623
Prepaid expenses (311) (13)
Deferred lot sale revenues (1,106) (1,088)
Accounts payable and accrued liabilities (2,136) (562)
Taxes payable net of taxes receivable (3,849) 5,283
Reimbursable public improvements (10,526)  
Other 101 (34)
Recognition of public improvement reimbursables, interest income and project management fees   (21,316)
Net cash (used) provided by operating activities (11,933) 193
Cash flows from investing activities:    
Construction costs of single-family rentals (142)  
Investments in water and water systems (1,235) (2,152)
Investments in land held for development (2,417)  
Purchase of property and equipment   (101)
Net cash used by investing activities (3,794) (2,253)
Cash flows from financing activities:    
Proceeds from notes payable 1,000  
Proceeds from option exercises 34 62
Payments to contingent liability holders (1) (3)
Net cash provided by financing activities 1,033 59
Net change in cash, cash equivalents and restricted cash (14,694) (2,001)
Cash, cash equivalents and restricted cash - beginning of period 22,444 21,797
Cash, cash equivalents and restricted cash - end of period 7,750 19,796
Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents [Abstract]    
Cash and cash equivalents 5,422 19,514
Restricted cash 2,328 282
Total cash, cash equivalents and restricted cash 7,750 19,796
SUPPLEMENTAL DISCLOSURE OF CASH FLOW INFORMATION AND NON-CASH ACTIVITIES    
Income taxes paid 5,260  
Change in reimbursable public improvements included in accounts payable and accrued liabilities $ 445  
Transfer of land development costs to other assets   484
Transfer of land development costs to land under development   467
Change in land under development included in accounts payable and accrued liabilities   613
Change in investments in water and water systems included in accounts payable and accrued liabilities   $ 298