Stephen F. Austin State University
Statement of Changes in Investment Assets
Endowment Fund
At February 29, 2004
Book Value Market Value
Beginning Investment Assets - 12/01/03 7,494,612.00 8,197,729.00
Receipts/Contributions
Investment Income 73,196.91 73,196.91
Change in Accrued Interest (14,517.00)
Distributions (44,205.45) (44,205.45)
Change in Cost Basis (6,614.99)
Net Realized Gains (Losses) 52,818.53 52,818.53
Changes in Net Unrealized Appreciation (Depreciation)   426,757.01
Ending Investment Assets - 02/29/05 7,569,807.00 8,691,779.00
Rate of Return 6.58%
Prepared in Compliance with Generally Accepted Accounting Priniciples
Accrued interest for the reporting period 26,782.00
Prior period accrued interest       41,299.00