Cemetery Perpetual Care Trusts

12 Months Ended

Jun. 30, 2012

Cemetery Perpetual Care Trusts [Text Block]

5.	Cemetery Perpetual Care Trusts
	The Company sells price-guaranteed preneed cemetery contracts providing for property interment rights. For preneed sales of interment rights (cemetery property), the associated revenue and all costs to acquire the sale are recognized in accordance with FASB ASC 976-10, “Accounting For Sales of Real Estate.” Under FASB ASC 976-10, recognition of revenue and costs must be deferred until 10 percent of the property sale price has been collected. The Company is required by state law to pay into the cemetery perpetual care trusts a portion of the proceeds from the sale of cemetery property interment rights. The Company has consolidated the cemetery perpetual care trusts, including investments accounted for under SFAS No. 115, resulting in such funds being reflected in cemetery perpetual care trust investments within total assets, with a corresponding amount reflected as non-controlling interest in perpetual care trusts.
	The Company recognizes realized earnings of these trusts within investment and other income, net (with a corresponding debit to cemetery perpetual care trust investments). The Company recognizes a corresponding expense within investment and other income, net for the amount of realized earnings of the trusts attributable to the non-controlling interest holders (with a corresponding credit to non-controlling interest in perpetual care trusts). The net effect is an increase by the amount of the realized earnings of the trusts in both the trust asset and the related non-controlling interest.
	Earnings from these cemetery perpetual care trust investments that the Company is legally permitted to withdraw are recognized in current cemetery revenues and are used to defray cemetery maintenance costs which are expensed as incurred.

Year		Beginning Market		Realized		Unrealized							Change		Ending Market
		Value		Gain		Gain(loss)		Distributions			Contributions		in Cash		Value
2012	$	5,345,922	$	48,766	$	53,194	$	(156,395	)	$	139,311	$	44,280	$	5,475,078
2011	$	4,962,756	$	339,428	$	20,719	$	( 89,273	)	$	108,405	$	3,887	$	5,345,922

The cost of the trust investments held by the cemetery are $5,521,486 and $5,339,652 as of June 30, 2012 and 2011, respectively.