Stephen F. Austin State University
						Inventory of Fixed Securites
						Operating Funds
								February 28, 2006
								Beginning Period				Ending Period
		Maturity				Face		12/1/2005		12/1/2005		2/28/2006		2/28/2006		Market Value		Current		Accrued
Security		Date		Coupon		Amount		Book Value		Market Value		Book Value		Market Value		Change		Yield		Interest
U.S. Treasury Note		12/08/05		0.000%		1,000,000		$996,900		$999,278						($999,278)
U.S. Treasury Note		02/15/06		5.625%		746,000		$751,998		$748,768						($748,768)
U.S. Treasury Bill		03/09/06		0.000%		1,752,000						$1,746,188		$1,750,336		$1,750,336
U.S. Treasury Note		04/30/06		2.250%		1,600,000		$1,593,750		$1,587,120		$1,593,750		$1,593,808		$6,688		2.25%		$11,934
U.S. Treasury Note		07/31/06		2.750%		1,500,000		$1,503,145		$1,484,295		$1,501,987		$1,487,985		$3,690		2.77%		$3,191
U.S. Treasury Note		11/15/06		3.500%		896,000		$907,892		$888,232		$904,810		$888,303		$71		3.53%		$9,096
U.S. Treasury Note		03/31/07		3.750%		2,217,000		$2,217,713		$2,197,247		$2,217,480		$2,194,143		($3,104)		3.78%		$34,488
U.S. Treasury Note		02/15/08		3.375%		927,000		$917,567		$906,866		$917,567		$904,622		($2,244)		3.45%		$1,124
U.S. Treasury Note		03/15/10		4.000%		1,501,000		$1,505,688		$1,475,678		$1,505,362		$1,465,531		($10,147)		4.09%		$27,532
U.S. Treasury Inflation Note		04/15/10		adjusted		317,000		$313,669		$315,805		$313,669		$315,754		($51)		0.91%		$1,036
						10,710,000		$10,708,322		$10,603,289		$10,700,813		$10,600,482		($2,807)				$88,401
Weighted Average Years to Maturity				1.59
Weighted Average Yield				2.70%