Other Comprehensive Income (Loss)

6 Months Ended

Mar. 31, 2013

Other comprehensive (loss)

Other Comprehensive Income (Loss)

Note 3 – Other Comprehensive Income (Loss)

Other comprehensive income (loss) (or “OCI”) is comprised of unrealized gains or losses on securities available for sale as required by FASB ASC 320 and pension liability adjustments as required by FASB ASC 715. There was a drop in the discount rate from 5% to 4% in 2012 which caused the pension liability to increase. The discount rate impact was partially offset by changes in assumptions in the increase rate of compensation which decreased 3% to 2% in 2011 and remained at 2% through 2012. The quarterly accruals for estimated annual pension liability partially offset by the unrealized gain on securities available for sale for the current quarter resulted in an OCI loss of $72,407 for the three months ended March 31, 2013 and $182,773 for the six months ended March 31, 2013. The Company has a regulatory “tracker” relative to pension expense and has therefore studied establishing a regulatory asset to match the pension liability. These financials do not include such a regulatory asset.

	March 31,			September 30,
	2013			2012
Pension adjustment		(3,487,655	)		(3,299,397	)
Net unrealized gain on securities available for sale		58,407			52,922
Accumulated other comprehensive loss		(3,429,248	)		(3,246,475	)