Stephen F. Austin State University
Statement of Changes in Investment Assets
Operating Fund
At May 31, 2008
Book Value Market Value
Beginning Investment Assets - 03/01/2008  $27,251,333.42  $28,111,367.34
Receipts/Contributions 1,300,000.00 1,300,000.00
Investment Income 263,360.91 263,360.91
Change in Accrued Interest 18,392.97
Distributions (4,358,750.97) (4,358,750.97)
Net Realized Gains (Losses)
Change in Cost Basis (4,117.77)
Changes in Net Unrealized Appreciation (Depreciation)   (335,748.42)
Ending Investment Assets - 05/31/2008  $24,451,825.59  $24,998,621.83
Rate of Return -0.20%
Accrued interest for the reporting period  $     160,207.98
Prior period accrued interest  $     141,815.01
Prepared in Compliance with Generally Accepted Accounting Priniciples