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Interest Rate Swap Agreements (Tables)
12 Months Ended
Mar. 31, 2013
Derivative Instruments and Hedging Activities Disclosure [Abstract]  
Schedule of notional amounts of interest rate swaps
 
     2013      2012      2011  

Notional amounts at beginning of year

   $ —         $  —         $ 50,000,000   

New contracts

     50,000,000         —           —     

Matured contracts

     —           —           (50,000,000
  

 

 

    

 

 

    

 

 

 

Notional amounts at end of year

   $ 50,000,000       $ —         $ —     
Schedule of locations and amounts of losses recognized in income
 
     2013     2012      2011  

Periodic change in fair value of interest rate swaps

   $ (504,852   $  —         $ 783,678   

Losses reclassified from accumulated other comprehensive loss

     —          —           (288,542
  

 

 

   

 

 

    

 

 

 
     (504,852     —           495,136   

Periodic settlement differentials included in interest expense

     (277,364     —           (801,048
  

 

 

   

 

 

    

 

 

 

Loss recognized in income

   $ (782,216   $ —         $ (305,912
  

 

 

   

 

 

    

 

 

 
Schedule of average variable rates received and average fixed rates paid under the swap agreements
 
     2013     2012  

Average variable rate received

     0.22     0.00

Average fixed rate paid

     0.94     0.00