Stephen F. Austin State University
	Inventory of Fixed Securites
	Bonds
	May 31, 2009
ECRC									Beginning Period				Ending Period
			Maturity		Coupon/		Face		3/1/2009		3/1/2009		5/31/2009		5/31/2009		Market Value		Current		Accrued
	Security		Date		Yield to Maturity		Amount		Book Value		Market Value		Book Value		Market Value		Change		Yield		Interest
	FHLB		3/13/2009		4.75%		1,320,000		1,336,782		1,321,650						(1,321,650)
	FHLMC  DN		3/2/2009		2.11%		1,373,000		1,344,697		1,373,000						(1,373,000)
							$  2,693,000		$    2,681,479		$    2,694,650		$                   -		$                  -		$    (2,694,650)				$                 -
	Weighted Average years to Maturity				N/A
	Weighted Average Yield on Face Amount				N/A
Nursing									Beginning Period				Ending Period
			Maturity		Coupon/		Face		3/1/2009		3/1/2009		5/31/2009		5/31/2009		Market Value		Current		Accrued
	Security		Date		Yield to Maturity		Amount		Book Value		Market Value		Book Value		Market Value		Change		Yield		Interest
	US T-Bill		4/30/2009				1,042,000		1,041,337		1,041,667						(1,041,667)
	Federal Farm Cr Bank		10/23/2009		5.00%		1,122,000		1,157,074		1,151,105		1,157,074		1,142,690		(8,415)		4.91%		5,921.67
	Federal Home Loan Mtg Corp Disc  Note		9/30/2009		Zero Coupon		1,072,000		1,067,924		1,068,248		1,067,924		1,071,357		3,109
	Federal National Mtg Assn		4/1/2009		Zero Coupon		792,000		791,673		791,842						(791,842)
	Federal National Mtg Assn		6/30/2009		Zero Coupon		1,052,000		1,050,305		1,050,843		1,050,305		1,051,895		1,052
	Federal National Mtg Assn		12/31/2009		Zero Coupon		582,000		577,652		578,042		577,652		581,185		3,143
	Federal National Mtg Assn		7/13/2009		5.125%		1,080,000		1,101,125		1,097,885		1,101,125		1,072,915		(24,970)		5.10%		21,217.50
	US Treasury		5/31/2009		4.875%		1,262,000		1,279,944		1,276,198		1,262,000		1,262,000		(14,198)
	US Treasury		8/31/2009		4.000%		1,072,000		1,093,021		1,090,095		1,093,021		1,081,970		(8,126)		3.96%		10,720.00
	US Treasury		11/30/2009		3.125%		1,722,000		1,758,323		1,752,875		1,758,323		1,745,815		(7,060)		3.05%
	Berkshire Hathaway Corp Bonds		1/15/2010		4.13%		372,000		381,482		378,633		381,482		379,377		744		4.05%		5,797.00
							$ 11,170,000		$  11,299,860		$  11,277,432		$      9,448,906		$     9,389,203		$    (1,888,229)				43,656.17
	Weighted Average Years to Maturity				0.34
	Weighted Average Yield on Face Amount				4.10%
	Weighted Average Yield on Market Value				4.10%
Deferred Maintenance									Beginning Period				Ending Period
			Maturity		Coupon/		Face		3/1/2009		3/1/2009		5/31/2009		5/31/2009		Market Value		Current		Accrued
	Security		Date		Yield to Maturity		Amount		Book Value		Market Value		Book Value		Market Value		Change		Yield		Interest
																	-
	US T-Bill		4/30/2009				500,000		499,682		499,840						(499,840)
	Federal Home Loan Mtg Corp		3/1/2010		4.375%		100,000		103,740		102,993		103,740		102,712.00		(281)		4.26%		1,093.75
	Federal Farm Cr Bank		10/23/2009		5.00%		790,000		814,695		810,493		814,695		804,567.60		(5,925)		4.91%		4,169.44
	Federal Home Loan Mtg Corp Disc  Note		9/30/2009		Zero Coupon		340,000		338,707		338,810		338,707		339,796.00		986
	Federal Home Loan BK		3/17/2010		4.375%		50,000		51,862		51,625		51,862		51,484.50		(141)		4.25%		449.65
	Federal Home Loan BK		4/30/2010		2.375%		325,000		330,509		328,962		330,509		330,079.75		1,118		2.34%		643.23
	Federal National Mtg Assn		4/1/2009		Zero Coupon		225,000		224,907		224,955						(224,955)
	Federal National Mtg Assn		6/30/2009		Zero Coupon		2,340,000		2,336,230		2,337,426		2,336,230		2,339,766.00		2,340
	Federal National Mtg Assn		12/31/2009		Zero Coupon		500,000		496,264		496,600		496,264		499,300.00		2,700
	Federal National Mtg Assn		7/13/2009		5.125%		1,620,000		1,651,687		1,646,827		1,651,687		1,609,372.80		(37,454)		5.10%		31,826.25
	Federal National Mtg Assn		5/20/2010		2.375%		25,000		25,411		25,305		25,411		25,429.75		125		2.33%		18.14
	US Treasury		5/31/2009		4.875%		1,275,000		1,293,129		1,289,344		1,275,000		1,275,000.00		(14,344)
	US Treasury		8/31/2009		4.000%		790,000		805,491		803,335		805,491		797,347.00		(5,988)		3.96%		7,900.00
	US Treasury		11/30/2009		3.125%		380,000		388,016		386,813		388,016		385,255.40		(1,558)		3.08%
	Berkshire Hathaway Corp Bonds		1/15/2010		4.13%		418,000		428,654		425,453		428,654		426,288.94		836		4.04%		6,513.83
																	-
							$  9,678,000		$    9,788,986		$    9,768,781		$      9,046,268		$     8,986,400		$       (782,381)				52,614.29
	Weighted Average Years to Maturity				0.29
	Weighted Average Yield on Face Amount				4.35%
	Weighted Average Yield on Market Value				4.35%