Stephen F. Austin State University
Statement of Changes in Bond Proceeds
At February 28, 2005
								Citizens' First Bank						Regions Bank
								Revenue Series 2000						Bond Series 2004
								Book Value		Market Value		Yield		Book Value		Market Value		Yield
Beginning Balance - 12/01/04								442,723.51		442,723.51				26,098,659.06		26,017,989.39
Receipts/Contributions
Investment Income														119,695.60		119,695.60
Distributions								(442,723.51)		(442,723.51)				(1,080,649.09)		(1,080,649.09)
Net Realized Gains (Losses)
Changes in Net Unrealized Appreciation (Depreciation)																(34,965.70)
Ending Balance - 02/28/05								0.00		0.00				25,137,705.57		25,022,070.20		0.33
Prepared in Compliance with Generally Accepted Accounting Principles
Stephen F. Austin State University
Statement of Changes in Bond Proceeds
At February 28, 2005
								Regions Bank Stone Fort Bank						Regions Bank Stone Fort Bank
								Bond Series 2002						Series 2002 Issuance Account
								Book Value		Market Value		Yield		Book Value		Market Value		Yield
Beginning Balance - 12/01/04								2,089,517.68		2,089,517.68				16,123.83		16,123.83
Receipts/Contributions								16,146.97		16,146.97
Investment Income								9,279.37		9,279.37				23.14		23.14
Distributions								(416,738.72)		(416,738.72)				(16,146.97)		(16,146.97)
Net Realized Gains (Losses)
Changes in Net Unrealized Appreciation (Depreciation)										(619.60)
Ending Balance - 02/28/05								1,698,205.30		1,697,585.70		0.46		0.00		0.00		0.29
Prepared in Compliance with Generally Accepted Accounting Principles
Stephen F. Austin State University
Statement of Changes in Bond Proceeds
At February 28, 2005
								Regions Bank Stone Fort Bank						Texas Term
								Debt Service Account 2004A					Local Government Investment Pool
								Book Value		Market Value		Yield		Book Value		Market Value		Yield
Beginning Balance - 12/01/04								14,699.07		14,699.07				0.00		0.00
Restate Beginning Balance - 12/01/04														5,475,334.68		5,484,037.30
Receipts/Contributions
Investment Income								71.65		71.65				26,761.55		26,761.55
Distributions								(3.09)		(3.09)				(319,983.62)		(319,983.62)
Net Realized Gains (Losses)
Changes in Net Unrealized Appreciation (Depreciation)
Ending Balance - 02/28/05								14,767.63		14,767.63		0.49		5,182,112.61		5,190,815.23		0.50
Prepared in Compliance with Generally Accepted Accounting Principles