Stephen F. Austin State University
Statement of Changes in Bond Proceeds
At November 30, 2002
							Regions Bank Stone Fort Bank							Regions Bank Stone Fort Bank
								REVENUE Series 96						Series 2002 Accrued Interest
								Book Value		Market Value		Yield		Book Value		Market Value		Yield
Beginning Balance - 09/01/02								236,394.95		236,394.95				45,457.07		45,457.07
Receipts/Contributions
Investment Income								863.95		863.95				166.10		166.10
Distributions								(237,258.90)		(237,258.90)				(45,623.17)		(45,623.17)
Net Realized Gains (Losses)
Changes in Net Unrealized Appreciation (Depreciation)
Ending Balance - 11/30/02								0.00		0.00		0.73		0.00		0.00		0.73
Prepared in Compliance with Generally Accepted Accounting Principles
Stephen F. Austin State University
Statement of Changes in Bond Proceeds
At November 30, 2002
							Regions Bank Stone Fort Bank							Citizens' First Bank
							TUITION REVENUE 98							Revenue Series 2000
								Book Value		Market Value		Yield		Book Value		Market Value		Yield
Beginning Balance - 09/01/02								666,249.97		666,249.97				520,425.50		520,425.50
Receipts/Contributions
Investment Income								2,632.50		2,632.50				3,868.26		3,868.26
Distributions								(184,650.88)		(184,650.88)				(10,316.52)		(10,316.52)
Net Realized Gains (Losses)
Changes in Net Unrealized Appreciation (Depreciation)
Ending Balance - 11/30/02								484,231.59		484,231.59		0.46		513,977.24		513,977.24		0.75
Prepared in Compliance with Generally Accepted Accounting Principles
Stephen F. Austin State University
Statement of Changes in Bond Proceeds
At November 30, 2002
							Regions Bank Stone Fort Bank							Regions Bank Stone Fort Bank
							Series 2002 Issuance Account							Bond Series 2002
								Book Value		Market Value		Yield		Book Value		Market Value		Yield
Beginning Balance - 09/01/02								70,281.05		70,281.05				13,932,021.45		13,948,690.52
Receipts/Contributions														43.47		43.47
Investment Income								284.15		284.15				111,833.89		111,833.89
Distributions								(32,318.16)		(32,318.16)
Net Realized Gains (Losses)
Changes in Net Unrealized Appreciation (Depreciation)																(17,040.87)
Ending Balance - 11/30/02								38,247.04		38,247.04		0.53		14,043,898.81		14,043,527.01		0.68
Prepared in Compliance with Generally Accepted Accounting Principles