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Note 2 - Property, Plant, Equipment And Water Programs

3 Months Ended

Sep. 30, 2011

Property, Plant and Equipment Disclosure [Text Block]

NOTE 2 - PROPERTY, PLANT, EQUIPMENT AND WATER PROGRAMS

Property, plant, equipment and water programs consist of the following (in thousands):

	September 30,			December 31,
	2011			2010

Land and land improvements	$	24,188		$	23,680
Water programs		17,780			15,496
Buildings		1,187			1,180
Leasehold improvements		570			570
Furniture and fixtures		442			442
Machinery and equipment		978			950
Construction in progress		116			163
		45,261			42,481

Less accumulated depreciation		(4,439	)		(4,166	)

	$	40,822		$	38,315

Depreciation expense totaled $92,000 for the three months ended September 30, 2011, and $81,000 for the three months ended September 30, 2010. Depreciation expense totaled $273,000 and $263,000 for the nine months ended September 30, 2011 and 2010, respectively.

- Definition

The entire disclosure for long-lived, physical assets that are used in the normal conduct of business to produce goods and services and not intended for resale. Examples include land, buildings, machinery and equipment, and other types of furniture and equipment including, but not limited to, office equipment, furniture and fixtures, and computer equipment and software. This disclosure may include property plant and equipment accounting policies and methodology, a schedule of property, plant and equipment gross, additions, deletions, transfers and other changes, depreciation, depletion and amortization expense, net, accumulated depreciation, depletion and amortization expense and useful lives, income statement disclosures, assets held for sale and public utility disclosures.

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