| Investments in Water and Water Systems |
The Company’s water and water systems consist of the following:
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August 31, 2025 |
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August 31, 2024 |
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Accumulated |
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Accumulated |
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Depreciation |
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Depreciation |
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(In thousands) |
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Costs |
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and Depletion |
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Costs |
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and Depletion |
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Rangeview water system |
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$ |
31,421 |
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$ |
(5,903) |
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$ |
23,381 |
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$ |
(3,579) |
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Rangeview water supply |
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16,273 |
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(21) |
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15,889 |
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(20) |
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Water supply – Other |
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1,300 |
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(1,147) |
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7,588 |
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(2,307) |
a |
Sky Ranch water rights and other costs |
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7,690 |
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(1,689) |
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7,764 |
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(1,641) |
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Sky Ranch pipeline |
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5,740 |
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(1,558) |
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5,740 |
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(1,366) |
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Lost Creek water supply |
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10,836 |
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— |
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7,357 |
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— |
b |
Fairgrounds water and water system |
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2,900 |
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(1,679) |
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2,900 |
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(1,591) |
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Wild Pointe service rights |
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1,632 |
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(1,475) |
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1,632 |
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(1,261) |
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Construction in progress - water and water systems |
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3,203 |
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— |
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1,804 |
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— |
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Totals |
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80,995 |
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(13,472) |
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74,055 |
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(11,765) |
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Net investments in water and water systems |
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$ |
67,523 |
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$ |
62,290 |
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a) |
Change in Water supply – Other for the year ended August 31, 2025 compared to 2024 is primarily due to reclassification of WISE infrastructure into Rangeview water system. |
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b) |
During the year ended August 31, 2025, the Company’s Lost Creek water supply increased $3.5 million, primarily from the acquisition of 378 acre-feet of ditch water in the Henrylyn Irrigation District and 220 acre-feet of groundwater rights in the Lost Creek Designated Basin
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| Useful Life By Asset Class |
The following table presents the estimated useful lives by asset class used for calculating depreciation and depletion charges:
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Asset Classes |
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Estimated Useful Lives |
Wild Pointe |
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Units of production depletion |
Rangeview water supply |
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Units of production depletion |
Lost Creek water supply |
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Units of production depletion |
Rangeview, Sky Ranch and WISE water systems |
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30 years |
ECCV wells |
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10 years |
Furniture and fixtures |
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5 years |
Trucks and heavy equipment |
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5 years |
Water system general (pumps, valves, etc.) |
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5 years |
Computers |
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3 years |
Water equipment |
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3 years |
Software |
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1 year |
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| Land and Mineral Interest |
As of August 31, the costs allocated to the Company’s land held for development is as follows:
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August 31, 2025 |
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August 31, 2024 |
Sky Ranch land |
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$ |
1,875 |
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$ |
1,982 |
Sky Ranch development costs |
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|
461 |
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1,483 |
Lost Creek land |
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|
1,729 |
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|
218 |
Construction in progress |
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|
103 |
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|
1,012 |
Net land and mineral interests held for development |
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$ |
4,168 |
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$ |
4,695 |
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