Stephen F. Austin State University
Statement of Changes in Investment Assets
Operating Fund
At May 31, 2006
Book Value Market Value
Beginning Investment Assets - 03/01/06 24,828,771.56 24,839,997.47
Receipts/Contributions 1,011,098.55 1,011,098.55
Investment Income 226,424.34 226,424.34
Change in Accrued Interest (47,569.19)
Distributions (4,149,180.76) (4,149,180.76)
Net Realized Gains (Losses) 6,902.08 6,902.08
Change in Cost Basis 13,679.85
Changes in Net Unrealized Appreciation (Depreciation)   7,785.21
Ending Investment Assets - 05/31/06 21,937,695.62 21,895,457.70
Rate of Return 0.83%
Accrued interest for the reporting period 63,983.84
Prior period accrued interest 111,553.03
Prepared in Compliance with Generally Accepted Accounting Priniciples