Note 3: Balance Sheet Components

Property and Equipment

At December 31, 2024 and September 30, 2024, property and equipment include the following:

		December 31,			September 30,
		2024			2024
		(unaudited)
Land	$	11,609,000		$	11,609,000
Building and resort improvements		13,375,000			13,382,000
Furniture, fixtures and equipment		1,033,000			1,033,000
Transportation equipment		1,068,000			1,062,000
Operating lease right-of-use asset		85,000			85,000
Construction in progress		185,000			147,000
		27,355,000			27,318,000
Less accumulated depreciation and amortization		(10,724,000	)		(10,580,000	)
	$	16,631,000		$	16,738,000

Transportation equipment includes assets under finance leases. Refer to Note 5 for additional information.

Accounts Payable and Accrued Liabilities

Accounts payable and accrued liabilities include trade payables, tourism taxes payable, property taxes payable, and other liabilities. The following table summarizes accounts payable and accrued liabilities as of December 31, 2024 and September 30, 2024:

		December 31,		September 30,
		2024		2024
		(unaudited)
Trade accounts payable	$	81,000	$	73,000
Accrued expenses		117,000		99,000
Tourism taxes payable		113,000		80,000
Property taxes payable		-		66,000
Other		69,000		72,000
	$	380,000	$	390,000

Accrued expenses in the table above relate primarily to accrued utilities and other accrued operating expenses. Other accrued liabilities in the table above relate primarily to unclaimed property and gift certificates.

Accrued Wages and Related

Accrued wages and related are primarily related to the Company's annual bonus and employee vacation liabilities. The Company's annual bonus for the prior fiscal year is typically paid during November of the following year.