NOTE 6 – ACCRUED LIABILITIES

At August 31, 2021 and 2020, the Company had accrued liabilities of $4.1 million and $2.6 million, specific balances are detailed in the table below.

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The amounts due to the Sky Ranch CAB are included in Notes receivable – related parties, including accrued interest or Land development inventories. The amounts recorded in inventory will be subsequently expensed through Land development construction costs. In addition, the amounts payable to the Rangeview District relate to construction costs of water infrastructure, these costs are included in Investments in water and water systems. The remaining items that make up accrued liabilities are generally self-explanatory.