Note 2 - Fair Value of Financial Instruments

9 Months Ended

Jul. 02, 2011

Fair Value of Financial Instruments, Policy [Policy Text Block]

2. FAIR VALUE OF FINANCIAL INSTRUMENTS

     The following table summarizes information on the fair value measurement of the Company’s assets as of July 2, 2011 and October 2, 2010, grouped by the categories described by the FASB.

			Quoted	Significant
			prices in	other		Significant
			active	observable		unobservable
			markets	inputs		inputs
	Total		(Level 1)	(Level 2)		(Level 3)
Cash value of life insurance policies:
July 2, 2011	$	2,036,562		$	2,036,562
October 2, 2010	$	1,927,281		$	1,927,281
Securities available for sale:
July 2, 2011	$	5,400,822	$    5,400,822
October 2, 2010	$	3,701,511	$    3,701,511

     Securities available for sale at July 2, 2011 were variable rate demand bonds with contractual maturities ranging from 2018 to 2029.  Interest rates on these securities are reset weekly, and the bonds may be liquidated at any time with seven days advance notice.  We had no significant unrealized holding gains or losses during the nine months ended July 2, 2011 or July 3, 2010.