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Investments (Tables)
3 Months Ended
Mar. 31, 2014
Investments Debt And Equity Securities [Abstract]  
Summary of Amounts Included in Investments

The following is a summary of amounts included in investments as of March 31, 2014 and December 31, 2013. The University considered all investments as available for sale.

 

     As of March 31, 2014  
     Adjusted
Cost
     Gross
Unrealized
Gains
     Gross
Unrealized
(Losses)
    Estimated
Fair
Value
 

Municipal securities

   $ 157,465       $ 24       $ (23   $ 157,466   
  

 

 

    

 

 

    

 

 

   

 

 

 

 

     As of December 31, 2013  
     Adjusted
Cost
     Gross
Unrealized
Gains
     Gross
Unrealized
(Losses)
    Estimated
Fair
Value
 

Municipal securities

   $ 108,393       $ 35       $ (8   $ 108,420