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Investment Securities
12 Months Ended
Jun. 30, 2017
Investments, Debt and Equity Securities [Abstract]  
Investment Securities

Note 3. Investment Securities

Investment securities at June 30, 2017 and 2016 consist of certificates of deposit and municipal bonds which are classified as available-for-sale securities and have been determined to be level 1 assets. The cost, gross unrealized gains, gross unrealized losses and fair value of available-for-sale securities by major security type at June 30, 2017 and 2016 are as follows:

       Gross   Gross     
   Amortized   Unrealized   Unrealized   Fair 
   Cost   Gains   Losses   Value 
2017                    
Certificates of deposit  $8,557,000   $   $   $8,557,000 
Municipal bonds   871,872    258    (2,162)   869,968 
2017 Total investment securities  $9,428,872   $258   $(2,162)  $9,426,968 
2016                    
Certificates of deposit  $4,871,000   $   $   $4,871,000 
Municipal bonds   707,593    1,466        709,059 
2016 Total investment securities  $5,578,593   $1,466   $   $5,580,059 

The portfolio is diversified and highly liquid and primarily consists of investment grade fixed income instruments. At June 30, 2017, the Company did not have any investments in individual securities that have been in a continuous loss position considered to be other than temporary.

As of June 30, 2017 and 2016, the remaining contractual maturities of available-for-sale securities were as follows:

   Years to Maturity     
   Less than   One to     
   One Year   Five Years   Total 
             
2017               
Available-for-sale  $8,829,542   $597,426   $9,426,968 
2016               
Available-for-sale  $4,811,511   $768,548   $5,580,059