Stephen F. Austin State University
Statement of Changes in Investment Assets
Operating Fund
At May 31, 2007
Book Value Market Value
Beginning Investment Assets - 03/01/07 25,388,042.04 25,576,251.10
Receipts/Contributions 455,202.00 455,202.00
Investment Income 249,479.67 249,479.65
Change in Accrued Interest 26,928.06
Distributions (4,307,534.62) (4,307,534.62)
Net Realized Gains (Losses) 548.00 548.00
Change in Cost Basis (14,242.65)
Changes in Net Unrealized Appreciation (Depreciation)   (90,392.09)
Ending Investment Assets - 05/31/07 21,771,494.44 21,910,482.10
Rate of Return 0.79%
Accrued interest for the reporting period 170,713.43
Prior period accrued interest 143,785.37
Prepared in Compliance with Generally Accepted Accounting Priniciples