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CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($)
Jan. 31, 2016
Jul. 31, 2015
ASSETS    
Property and Equipment - Net (Notes 5 and 6) $ 48,634,085 $ 48,191,392
Current Assets:    
Cash and cash equivalents (Note 4) 4,534,381 4,085,704
Receivables (Note 4) 720,050 $ 638,643
Real estate taxes refundable 16,474
Income taxes refundable 597,866 $ 695,265
Deferred income taxes 3,437,000 3,531,000
Security deposits 88,584 83,012
Prepaid expenses 1,465,145 1,477,996
Total current assets 10,859,500 10,511,620
Other Assets:    
Deferred charges 3,901,664 3,859,594
Less: accumulated amortization 1,730,284 1,560,205
Net 2,171,380 2,299,389
Receivables (Note 4)   30,000
Security deposits 1,244,472 1,328,952
Unbilled receivables (Notes 4 and 8) 2,421,224 2,613,246
Marketable securities (Notes 3 and 4) 1,168,462 1,461,504
Total other assets 7,005,538 7,733,091
TOTAL ASSETS 66,499,123 66,436,103
Long-Term Debt:    
Mortgages payable (Note 5) 5,709,650 5,786,525
Note payable - related party (Note 7)   1,000,000
Security deposits payable 606,997 693,576
Payroll and other accrued liabilities 121,223 121,223
Deferred revenue (Note 13) 437,500 1,020,833
Total long-term debt 6,875,370 8,622,157
Deferred Income Taxes (Note 1) 7,586,000 7,386,000
Current Liabilities:    
Accounts payable 100,192 39,759
Payroll and other accrued liabilities 2,561,484 2,597,104
Deferred revenue (Note 13) 1,166,666 1,166,667
Other taxes payable 12,000 $ 5,972
Current portion of note payable - related party (Note 7) 1,000,000
Current portion of long-term debt (Note 5) 153,511 $ 150,763
Current portion of security deposits payable 88,584 83,012
Total current liabilities 5,082,437 4,043,277
TOTAL LIABILITIES 19,543,807 20,051,434
Shareholders' Equity:    
Common stock, par value $1 each share (shares - 5,000,000 authorized; 2,178,297 issued) 2,178,297 2,178,297
Additional paid in capital 3,346,245 3,346,245
Unrealized gain on available-for-sale securities - net of deferred taxes of $73,000 at January 31, 2016 and $101,000 at July 31, 2015 142,579 196,033
Retained earnings 42,576,047 41,951,946
Stockholders' Equity before Treasury Stock 48,243,168 47,672,521
Less common stock held in treasury, at cost - 162,517 shares at January 31, 2016 and at July 31, 2015 (Note 11) 1,287,852 1,287,852
Total shareholders' equity $ 46,955,316 $ 46,384,669
Contingencies (Note 14)
TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY $ 66,499,123 $ 66,436,103