Stephen F. Austin State University
Statement of Changes in Investment Assets
Endowment Fund
At November 30, 2004
Book Value Market Value
Beginning Investment Assets - 09/01/04 7,674,577.00 8,509,843.65
Receipts/Contributions 7,500.00 7,500.00
Investment Income 43,607.76 43,607.76
Change in Accrued Interest 12,296.00
Distributions (69,173.14) (69,173.14)
Change in Cost Basis 112,976.63
Net Realized Gains (Losses) 94,200.27 94,200.27
Changes in Net Unrealized Appreciation (Depreciation)   399,368.24
Ending Investment Assets - 11/30/04 7,863,688.52 8,997,642.78
Rate of Return 6.48%
Prepared in Compliance with Generally Accepted Accounting Priniciples
Accrued interest for the reporting period 29,373.00
Prior period accrued interest       17,077.00