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Investments (Tables)
12 Months Ended
Dec. 31, 2017
Investments, Debt and Equity Securities [Abstract]  
Summary of Investments

The following is a summary of investments as of December 31, 2017 and 2016. The University considers all investments as available for sale.

 

     As of December 31, 2017  
     Adjusted
Cost
     Gross
Unrealized
Gains
     Gross
Unrealized
(Losses)
    Estimated
Fair
Value
 

Municipal securities

   $ 84,768      $ —        $ (409   $ 84,359  

Certificates of Deposit

   $ 4,915      $ —        $ (3   $ 4,912  
  

 

 

    

 

 

    

 

 

   

 

 

 

Total investments

   $ 89,683      $ —        $ (412   $ 89,271  
  

 

 

    

 

 

    

 

 

   

 

 

 

 

     As of December 31, 2016  
     Adjusted
Cost
     Gross
Unrealized
Gains
     Gross
Unrealized
(Losses)
    Estimated
Fair
Value
 

Municipal securities

   $ 62,769      $ 12      $ (185   $ 62,596