Stephen F. Austin State University
Statement of Changes in Investment Assets
Endowment Fund
At February 28, 2006
Book Value Market Value
Beginning Investment Assets - 12/01/05 8,182,404.49 9,366,583.55
Receipts/Contributions
Investment Income 64,036.78 64,036.78
Change in Accrued Interest (15,634.23)
Distributions (318,207.03) (318,207.03)
Investment Manager Expenses (19,404.51) (19,404.51)
Change in Cost Basis 91,993.11
Net Realized Gains (Losses) 217,551.65 217,551.65
Changes in Net Unrealized Appreciation (Depreciation)   45,806.28
Ending Investment Assets - 02/28/06 8,218,374.49 9,340,732.49
Rate of Return 3.39%
Prepared in Compliance with Generally Accepted Accounting Priniciples
Accrued interest for the reporting period       23,851.44
Prior period accrued interest       39,485.67