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Note 2 - Property, Plant, Equipment and Water Programs

6 Months Ended

Jun. 30, 2012

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):

	June 30,			December 31,
	2012			2011

Land and land improvements	$	24,192		$	24,188
Water programs		20,815			18,914
Buildings		1,187			1,187
Leasehold improvements		570			570
Furniture and fixtures		458			458
Machinery and equipment		1,061			997
Construction in progress		103			103
		48,386			46,417

Less accumulated depreciation		(4,719	)		(4,531	)

	$	43,667		$	41,886

Depreciation expense totaled $95,000 for the three months ended June 30, 2012, and $92,000 for the three months ended June 30, 2011. Depreciation expense totaled $188,000 and $181,000 for the six months ended June 30, 2012 and 2011, 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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