Short-term Investments

12 Months Ended

Mar. 31, 2014

Short-term Investments:

The following table presents short-term investments as of March 31, 2014, and 2013:



(in thousands)	March 31, 2014		March 31, 2013
Certificates of deposit	$	1,476	$	3,682
Held-to-maturity, pre-refunded municipal bonds	14,108		20,667
Total investments	$	15,584	$	24,349

The fair value of short-term investments approximates their carrying amounts due to the short-term nature of these financial assets.