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