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Statements of Cash Flows - USD ($)
12 Months Ended
Jun. 30, 2020
Jun. 30, 2019
Cash Flows from Operating Activities:    
Net income $ 1,163,668 $ 2,342,694
Adjustments to reconcile net income to net cash provided by (used in) operating activities:    
Bad debt expense 69,010
Stock-based compensation 189,639 172,148
Depreciation 568,528 540,978
ESOP compensation expense 305,006 390,369
Loss on disposal of assets 4,525 566
Deferred income tax (benefit) expense (43,641) 258,040
Changes in assets and liabilities:    
Decrease (increase) in trade receivables 1,982,378 (6,687,067)
Decrease in income tax receivable 161,975
Increase in inventories (1,562,918) (1,816,211)
Decrease in prepaid expenses and other current assets 97,295 798,394
Increase in accounts payable 701,263 337,836
Increase (decrease) in accrued salaries and wages 139,311 (199,115)
(Decrease) increase in vacation accrual (97,036) 79,258
Increase in other accrued expenses 208,567 5,092
Increase in payroll and other taxes withheld 125,519 8,016
Increase (decrease) in contract liabilities 2,169,181 (96,870)
Increase in income taxes payable 17,226 30,481
Net cash provided by (used in) operating activities 5,968,511 (3,604,406)
Cash Flows from Investing Activities:    
Additions to property, plant and equipment (214,421) (608,318)
Purchase of investment securities (9,338,100) (6,039,808)
Proceeds from sale/maturity of investment securities 9,878,531 11,882,666
Net cash provided by investing activities 326,010 5,234,540
Cash Flows from Financing Activities:    
Dividends paid on common stock (2,388,211) (4,736,962)
Purchase of treasury stock (47,949) (44,888)
Proceeds from exercise of stock options 81,000 315,681
Net cash used in financing activities (2,355,160) (4,466,169)
Increase (decrease) in cash and cash equivalents 3,939,361 (2,836,035)
Cash and cash equivalents, beginning of the year 1,462,761 4,298,796
Cash and cash equivalents, end of the year 5,402,122 1,462,761
Supplemental Schedule of Cash Flow Information:    
Income taxes paid $ 172,475 $ 87,200