Stephen F. Austin State University
Statement of Changes in Bond Proceeds
At May 31, 2008
								Bancorpsouth
								Bond Series 2008
								Book Value		Market Value		Yield
Beginning Balance - 03/01/2008								$                  -		$                    -
Receipts/Contributions								20,275,875.00		20,275,875.00
Investment Income								16,100.30		16,100.30
Change in Accrued Interest										14,845.10
Distributions								(4,434,643.06)		(4,439,084.25)
Net Realized Gains (Losses)								(4,441.19)		(4,441.19)
Changes in Net Unrealized Appreciation (Depreciation)										30,800.09
Ending Balance - 05/31/2008								$ 15,852,891.05		$  15,894,095.05		0.72
Accrued interest for the reporting period										$         14,845.10
Prior period accrued interest										$                    -
Prepared in Compliance with Generally Accepted Accounting Principles