NOTE 3

Investments

The following is a summary of investments:


	Gross Amortized Costs		Gross Unrealized Gains		Fair Value
	(Dollars in thousands)
May 31, 2014
U. S. Treasury Bills	$	—	$	—	$	—

May 31, 2013
U. S. Treasury Bills	$	4,000	$	—	$	4,000

The fair value is determined by a secondary market for U.S. Government Securities. At May 31, 2013, the U.S. Treasury Bills matures within three months. In the third quarter of fiscal 2014, U.S. Treasury Bills with a gross amortized cost of $5,000,000 were sold before maturity at cost. The sale occurred for purposes of maintaining liquidity during a period where the Corporation’s sales and cash collections are at its lowest level for the fiscal year.