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8. Fair Value of Financial Instruments
12 Months Ended
Mar. 30, 2018
Notes  
8. Fair Value of Financial Instruments

8.     Fair Value of Financial Instruments

 

The fair value amounts have been determined using available market information, assumptions, estimates and valuation methodologies.

 

Cash and cash equivalents

 

The carrying amount approximates fair value.

 

Investment in Pemberwick Fund, a short duration bond fund

 

The fair value of Pemberwick is based on current market quotes received from active markets. Pemberwick’s NAV is calculated and published daily (see Note 4).

 

Investment in local partnerships

 

The carrying amount approximates fair value.