Stephen F. Austin State University
Statement of Changes in Investment Assets
Endowment Fund
At November 30, 2003
								Book Value		Market Value
Beginning Investment Assets - 09/01/03								7,483,523.00		7,872,935.33
Receipts/Contributions
Investment Income								47,524.68		47,524.68
Change in Accrued Interest										23,523.00
Distributions								(17,201.11)		(17,201.11)
Change in Cost Basis								(33,612.87)
Net Realized Gains (Losses)								14,378.30		14,378.30
Changes in Net Unrealized Appreciation (Depreciation)										256,568.80
Ending Investment Assets - 11/30/03								7,494,612.00		8,197,729.00
Rate of Return										4.35%
Prepared in Compliance with Generally Accepted Accounting Priniciples
Accrued interest for the reporting period										41,299.00
Prior period accrued interest										17,776.00