Contract Receivables, net

12 Months Ended

Jul. 31, 2012

Contract Receivables, net [Abstract]

Contract Receivables, net

	July 31,
	2012			2011
Billed	$	42,977,016		$	42,636,632
Unbilled		28,829,818			27,869,325
		71,806,834			70,505,957
Allowance for doubtful accounts and contract adjustments		(10,238,391	)		(6,755,087	)
	$	61,568,443		$	63,750,870

Unbilled receivables result from revenues which have been earned, but are not billed as of period-end.  The above unbilled balances are comprised of incurred costs plus fees not yet processed and billed; and differences between year-to-date provisional billings and year-to-date actual contract costs incurred.  Management anticipates that the July 31, 2012 unbilled receivables will be substantially billed and collected within one year.  Within the above billed balances are contractual retainages in the amount of approximately $248,000 and $222,000 at July 31, 2012 and 2011. Management anticipates that the July 31, 2012 retainage balance will be substantially collected within one year.  Included in the balance of receivables are receivables due under the contracts with organizations in Kuwait of $14.5 million and $12.4 million at July 31, 2012 and 2011, respectively.  Of the outstanding balances due from Kuwait, approximately $1.9 million and $1.8 million were included in billings in excess of revenue as of July 31, 2012 and 2011, respectively.  Additionally, approximately $3.8 million and $3.5 million of allowance for doubtful accounts has been recognized at July 31, 2012 and 2011, respectively.