Stephen F. Austin State University
Statement of Changes in Investment Assets
Endowment Fund
At August 31, 2005
Book Value Market Value
Beginning Investment Assets - 06/01/05 7,909,490.49 9,018,767.49
Receipts/Contributions
Investment Income 55,876.72 55,876.72
Change in Accrued Interest 6,375.12
Distributions
Investment Manager Expenses (21,116.00) (21,116.00)
Change in Cost Basis (1,714.77)
Net Realized Gains (Losses) 100,657.05 100,657.05
Changes in Net Unrealized Appreciation (Depreciation)   161,137.62
Ending Investment Assets - 08/31/05 8,043,193.49 9,321,698.00
Rate of Return 3.60%
Prepared in Compliance with Generally Accepted Accounting Priniciples
Accrued interest for the reporting period       25,620.12
Prior period accrued interest       19,245.00