Investments (Tables)

9 Months Ended

Sep. 30, 2016

Investments, Debt and Equity Securities [Abstract]

Summary of Amounts Included in Restricted Investments and Unrestricted Investments

The following is a summary of amounts included in restricted and unrestricted investments as of September 30, 2016 and December 31, 2015. The University considered all investments as available for sale.

	As of September 30, 2016
	Adjusted Cost		Gross Unrealized Gains		Gross Unrealized (Losses)			Estimated Fair Value
Municipal securities	$	49,749	$	10	$	(105	)	$	49,654
Municipal bond mutual fund	$	56,031	$	—	$	(173	)	$	55,858
Total restricted and unrestricted investments	$	105,780	$	10	$	(278	)	$	105,512
	As of December 31, 2015
	Adjusted Cost		Gross Unrealized Gains		Gross Unrealized (Losses)			Estimated Fair Value
Municipal securities	$	83,507	$	26	$	(169	)	$	83,364
Municipal bond mutual fund	$	55,720	$	—	$	(115	)	$	55,605
Total restricted and unrestricted investments	$	139,227	$	26	$	(284	)	$	138,969