Fair Value of Financial Instruments (Tables)
9 Months Ended
Apr. 30, 2013
Fair Value of Financial Instruments [Abstract]  
Assets Measured at Fair Value on a Recurring Basis
The fair value of the Company's assets and liabilities that are measured at fair value on a recurring basis is summarized by level within the fair value hierarchy in the following table.

 
April 30, 2013
 
 
Level 1
 
Level 2
 
Level 3
 
Total
 
Assets
 
 
 
 
Mutual funds
 
$
1,467,981
  
$
---
  
$
---
  
$
1,467,981
 

 
July 31, 2012
 
 
Level 1
 
Level 2
 
Level 3
 
Total
 
Assets
 
 
 
 
Mutual funds
 
$
1,353,365
  
$
51,217
  
$
---
  
$
1,404,582