Stephen F. Austin State University
Statement of Changes in Bond Proceeds
At May 31, 2009
								Bancorpsouth
								Bond Series 2008 TRB
								Book Value		Market Value		Yield
Beginning Balance - 03/01/2009								$    4,521,788.13		$    4,564,049.96
Receipts/Contributions
Investment Income								60,498.39		60,498.39
Change in Accrued Interest										(29,091.15)
Realized Appreciation (Depreciation)								(16,782.19)		(16,782.19)
Distributions								(4,565,504.33)		(4,565,504.33)
Change in Cost Basis										0.00
Changes in Net Unrealized Appreciation (Depreciation)										(13,170.68)
Ending Balance - 05/31/2009								$                    -		$                    -		0.06
Accrued interest for the reporting period										$                    -
Prior period accrued interest										$         29,091.15
								Citizen's Bank						Regions Bank - Cost of Issuance
								Bond Series 2008 HEAF						Bond Series 2008 HEAF
								Book Value		Market Value		Yield		Book Value		Market Value		Yield
Beginning Balance - 03/01/2009								$  10,221,148.36		$   10,221,148.36				$            79,941.68		$          79,941.68
Receipts/Contributions														-		-
Investment Income								12,580.47		12,580.47
Change in Accrued Interest
Distributions								(1,391,914.10)		(1,391,914.10)				(70,518.43)		(70,518.43)
Change in Cost Basis
Changes in Net Unrealized Appreciation (Depreciation)
Ending Balance - 05/31/2009								$    8,841,814.73		$    8,841,814.73		0.13		$             9,423.25		$            9,423.25		-
								Regions Bank - Nursing						Regions Bank - Cost of Issuance
								Bond Series 2009 TRB						Bond Series 2008 HEAF
								Book Value		Market Value		Yield		Book Value		Market Value		Yield
Beginning Balance - 03/01/2009								$  11,757,043.75		$   11,791,363.36				$              105,000		$             105,000
Receipts/Contributions
Investment Income								51,943.69		51,943.69				94.52		94.52
Change in Accrued Interest								-		(13,091.53)
Realized Appreciation (Depreciation)								(17,944.06)		(17,944.06)
Distributions								(1,187,397.85)		(1,187,397.85)				(95,666.54)		(95,666.54)
Change in Cost Basis
Changes in Net Unrealized Appreciation (Depreciation)										(37,274.32)
Ending Balance - 05/31/2009								$  10,603,645.53		$   10,587,599.29		(0.15)		$             9,427.98		$            9,427.98		0.17
Accrued interest for the reporting period										$         43,656.17
Prior period accrued interest										$         56,747.70
								Regions Bank - Deferred Maintenance
								Bond Series 2009 TRB
								Book Value		Market Value		Yield
Beginning Balance - 03/01/2009								$    9,895,086.53		$    9,925,159.71
Receipts/Contributions
Investment Income								44,058.72		44,058.72
Change in Accrued Interest								-		2,335.93
Realized Appreciation (Depreciation)								(18,128.91)		(18,128.91)
Distributions								(1,119.73)		(1,119.73)
Change in Cost Basis
Changes in Net Unrealized Appreciation (Depreciation)										(39,662.92)
Ending Balance - 05/31/2009								$    9,919,896.61		$    9,912,642.80		(0.11)
Accrued interest for the reporting period										$         52,614.29
Prior period accrued interest										$         50,278.36
Prepared in Compliance with Generally Accepted Accounting Principles