Stephen F. Austin State University
	Statement of Changes in Investment Assets
	Quasi Endowment Fund
	At May 31, 2007
									Book Value		Market Value
	Beginning Investment Assets - 03/01/07								3,814,712.00		3,865,214.57
	Receipts/Contributions								31,225.20		31,225.20
	Investment Income
	Change in Accrued Interest										10,538.93
	Distributions								(150.00)		(150.00)
	Net Realized Gains (Losses)
	Change in Cost Basis								(4,186.20)
	Changes in Net Unrealized Appreciation (Depreciation)										(27,974.97)
	Ending Investment Assets - 05/31/07								3,841,601.00		3,878,853.73
	Rate of Return										-0.45%
	Accrued interest for the reporting period										45,952.41
	Prior Period Accrued Interest										35,413.48
	Prepared in Compliance with Generally Accepted Accounting Priniciples
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