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Notes Payable
12 Months Ended
Jun. 30, 2016
Notes Payable [Abstract]  
Notes Payable
Notes Payable

The current bank line of credit with Branch Banking and Trust Company permits borrowings up to $40,000,000, all of which was available as of June 30, 2016 and June 30, 2015. During 2016, we did not have any borrowing on our bank line of credit. The maximum amount borrowed during 2015 was $126,000. The bank line of credit extends through June 30, 2017. The interest rate on the used line of credit is the London Interbank Offered Rate plus 1.075%. The annual cost of the unused bank line of credit is 0.125%. Our most restrictive covenants are discussed in Note 10 of the Notes to Consolidated Financial Statements.