Fair Value Measurements

9 Months Ended

Sep. 30, 2012

Fair Value Measurements [Abstract]

FAIR VALUE MEASUREMENTS

NOTE 4 — FAIR VALUE MEASUREMENTS

For disclosure purposes, assets and liabilities are classified in their entirety in the fair value hierarchy level based on the lowest level of input that is significant to the overall fair value measurement. Our assessment of the significance of a particular input to the fair value measurement requires judgment and may affect the placement within the fair value hierarchy levels.

The following table sets forth the assets and liabilities measured at fair value on a recurring basis, by input level, in the consolidated statement of net assets at September 30, 2012:

	Level 1		Level 2		Level 3		Total
Municipal Bonds	$	13,820	$	—	$	—	$	13,820
Certificates of Deposit		5,640		—		—		5,640
Total assets at fair value	$	19,460	$	—	$	—	$	19,460

The following table sets forth the assets and liabilities measured at fair value on a recurring basis, by input level, in the consolidated statement of net assets at December 31, 2011:

	Level 1		Level 2		Level 3		Total
Municipal Bonds	$	22,892		—		—	$	22,892
Certificates of Deposit		5,003		—		—		5,003
Total assets at fair value	$	27,895	$	—	$	—	$	27,895

The Company believes the fair value of its financial instruments consisting of cash, cash equivalents, and short-term investments, adjusted to recognize unrealized gains and losses, approximate their carrying values due to the relatively short maturity of these instruments.