Note 9 - Operating Leases

12 Months Ended

Mar. 31, 2012

Operating Leases of Lessor Disclosure [Text Block]

9.             Operating Leases

The University has long-term operating leases for its campus facilities.  All leases provide for additional rent based on shared operating expenses.  Total rent expense for facilities was approximately $2,807,000 and $2,350,000 for the years ended March 31, 2012 and 2011.  Approximate future minimum rent commitments are as follows:

Year Ending March 31,	Amount
2013	$	2,464,000
2014		2,485,000
2015		2,508,000
2016		2,542,000
2017		2,472,000
Thereafter		6,469,000
	$	18,940,000