NOTE 4 — CASH AND CASH EQUIVALENTS AND SHORT-TERM INVESTMENTS

Cash and cash equivalents typically comprise cash balances and readily marketable investments with original maturities of three months or less, such as money market funds, short-term government bonds, Treasury bills, marketable securities and commercial paper. Marketable investments with original maturities between three and twelve months are recorded as short-term investments. The Company’s treasury policy is to invest excess cash in money market funds or other investments, which are generally of a short-term duration based upon operating requirements. Income earned on these investments is recorded to interest income in the Company’s condensed consolidated statements of operations. As of March 31, 2014 and December 31, 2013, cash and cash equivalents totaled $9,601 and $24,936, respectively, and short-term investments totaled $1,795 and $1,143, respectively. The components of cash and cash equivalents and short-term investments as of March 31, 2014 and December 31, 2013 are summarized as follows:

	March 31,		December 31,
	2014		2013
Cash and cash equivalents:
Cash	$	9,196	$	12,021
Money market funds	369		7,423
Municipal bonds	36		5,492
Total cash and cash equivalents	9,601		24,936

Short-term investments (available-for-sale):
Municipal bonds	1,795		1,143

Total cash and cash equivalents and short-term investments	11,396		26,079