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Note 9 - Operating Leases

12 Months Ended

Mar. 31, 2013

Operating Leases of Lessor Disclosure [Abstract]

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 $2,904,000 and $2,807,000 for the years ended March 31, 2013 and 2012. Approximate future minimum rent commitments are as follows:

Year Ending March 31,	Amount
2014	$	2,532,000
2015		2,555,000
2016		2,589,000
2017		2,507,000
2018		2,195,000
Thereafter		4,273,000
	$	16,651,000

- Definition

The entire disclosure for operating leases of a lessor. This may include a general description of lessor's leasing arrangements for operating leases, including the basis on which contingent rental payments are determined, the existence and terms of renewal or purchase options and escalation clauses, restrictions imposed by lease arrangements, such as those concerning dividends, additional debt, and further leasing, rent holidays, rent concessions, or leasehold improvement incentives and unusual provisions or conditions.

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