Annual report pursuant to Section 13 and 15(d)

ACCRUED LIABILITIES

v3.21.2
ACCRUED LIABILITIES
12 Months Ended
Aug. 31, 2021
ACCRUED LIABILITIES [Abstract]  
ACCRUED LIABILITIES

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.

    

August 31, 2021

    

August 31, 2020

(In thousands)

Due to the Sky Ranch CAB - related party

$

2,187

$

1,169

Accrued compensation

729

767

Other operating payables

 

248

 

353

WISE water

62

69

Land development - warranty and other - related party

 

56

 

Operating lease obligations

84

74

Property taxes

50

72

Professional fees

51

56

Due to Rangeview - related party

638

43

Total

$

4,105

$

2,603

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.