ACCUMULATED OTHER COMPREHENSIVE INCOME (Tables)

12 Months Ended

Jul. 31, 2014

ACCUMULATED OTHER COMPREHENSIVE INCOME [Abstract]

Schedule of Accumulated Other Comprehensive Income (Loss)

A summary of the changes in accumulated other comprehensive income for the fiscal years ended July 31, 2014, 2013, and 2012 is as follows:

	Years Ended July 31,
	2014			2013			2012
Beginning balance, net of tax effect	$	183,633		$	133,477		$	126,415
Other comprehensive income, net of tax effect:
Unrealized gains on available-for-sale securities		57,966			90,156			53,062
Tax effect		(26,000	)		(40,000	)		(46,000	)
Unrealized gains on available-for-sale securities, net of tax		31,966			50,156			7,062
Amounts reclassified from accumulated other
comprehensive income, net of tax effect:
Unrealized gains (losses) on available-for-sale
securities reclassified		(155,187	)		-			-
Tax effect		69,000			-			-
Amount reclassified, net of tax effect		(86,187	)		-			-
Ending balance, net of tax effect	$	129,412		$	183,633		$	133,477