Unaudited Consolidated Statements of Cash Flows - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2019	Jun. 30, 2018
Operating Activities
Net income	$ 833	$ 442
Adjustments to reconcile net income to net cash (used in) provided by operating activities:
Depreciation and amortization	2,136	2,220
Amortization of premium/discount of marketable securities	(51)	50
Equity in earnings of unconsolidated joint ventures, net	(2,847)	(819)
Non-cash retirement plan expense	154	82
Non-cash profits recognized from land contribution	(1,667)	0
Loss on sale of property plant and equipment	0	48
Stock compensation expense	1,592	1,776
Excess tax benefit from stock-based compensation	52	18
Changes in operating assets and liabilities:
Receivables, inventories, prepaids and other assets, net	1,410	(413)
Current liabilities, net	(2,890)	1,154
Net cash (used in) provided by operating activities	(1,278)	4,558
Investing Activities
Maturities and sales of marketable securities	26,793	18,455
Funds invested in marketable securities	(19,110)	(17,959)
Real estate and equipment expenditures	(12,581)	(10,386)
Reimbursement proceeds from Community Facilities District	0	1,385
Investment in unconsolidated joint ventures	(100)	0
Distribution of equity from unconsolidated joint ventures	276	373
Investments in long-term water assets	(3,560)	(2,659)
Other	0	(1)
Net cash used in investing activities	(8,282)	(10,792)
Financing Activities
Repayments of long-term debt	(1,999)	(2,033)
Rights offering costs	0	(166)
Taxes on vested stock grants	(844)	(1,063)
Net cash used in financing activities	(2,843)	(3,262)
Decrease in cash and cash equivalents	(12,403)	(9,496)
Cash and cash equivalents at beginning of period	15,908	20,107
Cash and cash equivalents at end of period	3,505	10,611
Supplemental cash flow information
Accrued capital expenditures included in current liabilities	3	155
Contribution to unconsolidated joint venture	5,854	0
Long term deferred profit on land contribution	$ 1,532	$ 0