Stephen F. Austin State University
Statement of Changes in Investment Assets
Operating Fund
At August 31, 2003
Book Value Market Value
Beginning Investment Assets - 06/01/03 26,338,000.16 26,524,595.48
Receipts/Contributions 3,000,000.00 3,000,000.00
Investment Income 1,584,706.34 1,584,706.34
Change in Accrued Interest (36,624.75)
Distributions (11,119,474.28) (11,119,474.28)
Net Realized Gains (Losses) 28,469.19 28,469.19
Change in Cost Basis 1,324.06
Changes in Net Unrealized Appreciation (Depreciation)   (99,588.94)
Ending Investment Assets - 08/31/03 19,833,025.47 19,882,083.04
Rate of Return 6.57%
Accrued interest for the reporting period 68,800.57
Prior period accrued interest 105,425.32
Prepared in Compliance with Generally Accepted Accounting Priniciples