Stephen F. Austin State University
Statement of Changes in Bond Proceeds
February 28, 2009
Bancorpsouth
Bond Series 2008 TRB
Book Value Market Value Yield
Beginning Balance - 12/01/08  $          7,790,083.59  $          7,875,740.52
Receipts/Contributions
Investment Income 50,640.20 50,640.20
Change in Accrued Interest 15,226.44
Distributions (3,318,935.66) (3,318,935.66)
Change in Cost Basis
Changes in Net Unrealized Appreciation (Depreciation)   (58,621.54)
Ending Balance - 02/28/09  $          4,521,788.13  $          4,564,049.96        0.12
Accrued interest for the reporting period  $              29,091.15
Prior period accrued interest  $              13,864.71
Citizen's Bank Regions Bank - Cost of Issuance
Bond Series 2008 HEAF Bond Series 2008 HEAF
Book Value Market Value Yield Book Value Market Value Yield
Beginning Balance - 12/01/08  $                          -    $                          -    $                          -    $                          -  
Receipts/Contributions            10,201,600.00            10,201,600.00                  80,000.00                  80,000.00
Investment Income 19,548.36 19,548.36
Change in Accrued Interest
Distributions                       (58.32)                       (58.32)
Change in Cost Basis
Changes in Net Unrealized Appreciation (Depreciation)        
Ending Balance - 02/28/09  $        10,221,148.36  $        10,221,148.36        0.38  $              79,941.68  $              79,941.68            -  
Regions Bank - Nursing Regions Bank - Cost of Issuance
Bond Series 2009 TRB Bond Series 2009 TRB
Book Value Market Value Yield Book Value Market Value Yield
Beginning Balance - 12/01/08  $                          -    $                          -    $                          -    $                          -  
Receipts/Contributions            13,000,000.00            13,000,000.00                105,000.00                105,000.00
Investment Income                 (62,200.57)                 (62,200.57)                             -                               -  
Change in Accrued Interest                             -                    56,747.70                             -                               -  
Realized Appreciation (Depreciation)                             -                               -                               -                               -  
Distributions             (1,180,755.68)             (1,180,755.68)                             -                               -  
Change in Cost Basis                             -                               -                               -                               -  
Changes in Net Unrealized Appreciation (Depreciation)                             -                   (22,428.09)                             -                               -  
Ending Balance - 02/28/09  $        11,757,043.75  $        11,791,363.36       (0.47)  $             105,000.00  $             105,000.00            -  
Accrued interest for the reporting period  $              56,747.70
Prior period accrued interest  $                          -  
Regions Bank - Deferred Maintenance
Bond Series 2009 TRB
Book Value Market Value Yield
Beginning Balance - 12/01/08  $                          -    $                          -  
                            -                               -  
Receipts/Contributions            10,000,000.00            10,000,000.00
Investment Income                 (51,878.10)                 (51,878.10)
Change in Accrued Interest                             -                    50,278.36
Realized Appreciation (Depreciation)                        11.84                        11.84
Distributions                 (53,047.21)                 (53,047.21)
Change in Cost Basis                             -                               -  
Changes in Net Unrealized Appreciation (Depreciation)                             -                   (20,205.18)
Ending Balance - 02/28/09  $          9,895,086.53  $          9,925,159.71       (0.44)
Accrued interest for the reporting period  $              50,278.36
Prior period accrued interest  $                          -  
Prepared in Compliance with Generally Accepted Accounting Principles