Pure Cycle Corporation Quarterly report pursuant to Section 13 or 15(d)

Quarterly report pursuant to Section 13 or 15(d)

REVENUE RECOGNITION AND REIMBURSABLE COSTS (Tables)

REVENUE RECOGNITION AND REIMBURSABLE COSTS (Tables)

9 Months Ended

May 31, 2021

REVENUE RECOGNITION AND REIMBURSABLE COSTS [Abstract]

The following table summarizes the amounts the Company paid, what was repaid by the Sky Ranch CAB and amounts still owed to the Company by the Sky Ranch CAB:


	As of May 31, 2021
					Amounts payable to Pure
			Payments repaid by		Cycle by the Sky Ranch
	Costs incurred to date		Sky Ranch CAB		CAB

	(In thousands)
Phase 1
Public improvements	$	27,205	$	10,505	$	16,700
Accrued interest		2,626		400		2,226
Project management services		1,556		—		1,556
Construction support activities		834		—		834
Phase 1 reimbursable costs	$	32,221	$	10,905	$	21,316

Phase 2
Public improvements	$	444	$	—	$	444
Phase 2 reimbursable costs	$	444	$	—	$	444

Deferred Revenue and Changes in Deferred Revenue

Deferred revenue by segment is as follows:


	May 31, 2021		August 31, 2020

	(In thousands)
Land development segment	$	550	$	1,636
Water and wastewater resource development segment		275		1,965
Balance, end of period	$	825	$	3,601

Changes in deferred revenue were as follows:


	May 31, 2021
	(In thousands)
Balance, August 31, 2020	$	3,601
Deferral of revenue		2,293
Recognition of unearned revenue		(5,069)
Balance, May 31, 2021	$	825