Investment Report

Stephen F. Austin State University
Statement of Changes in Investment Assets
Quasi Endowment Fund
At February 29, 2004
Book Value Market Value
Beginning Investment Assets - 12/01/03 3,580,863.00 3,602,901.00
Receipts/Contributions
Investment Income 25,854.73 25,854.73
Change in Accrued Interest 10,588.00
Distributions (6,112.87) (6,112.87)
Net Realized Gains (Losses) 7,661.42 7,661.42
Change in Cost Basis (24,479.28)
Changes in Net Unrealized Appreciation (Depreciation)   (15,738.28)
Ending Investment Assets - 02/29/04 3,583,787.00 3,625,154.00
Rate of Return 0.79%
Accrued interest for the reporting period 36,345.00
Prior Period Accrued Interest 25,757.00
Prepared in Compliance with Generally Accepted Accounting Priniciples