Stephen F. Austin State University
							Inventory of Fixed Securites
							Operating Funds
							August 31, 2005
									Beginning Period				Ending Period
			Maturity				Face		6/1/2005		6/1/2005		8/31/2005		8/31/2005		Market Value		Current		Accrued
	Security		Date		Coupon		Amount		Book Value		Market Value		Book Value		Market Value		Change		Yield		Interest
	U.S. Treasury Note		08/15/05		6.500%		1,200,000		$1,212,178		$1,208,628						(1,208,628)
	U.S. Treasury Note		09/22/05		0.000%		1,000,000						$996,823		$998,090		998,090
	U.S. Treasury Note		12/31/05		1.875%		434,000		$430,609		$430,523		$430,609		$431,439		916		1.88%		$1,371
	U.S. Treasury Note		02/15/06		5.625%		746,000		$766,059		$758,734		$758,985		$752,408		(6,326)		5.57%		$1,824
	U.S. Treasury Note		04/30/06		2.250%		2,500,000		$2,490,234		$2,474,425		$2,490,234		$2,475,400		975		2.27%		$18,801
	U.S. Treasury Note		07/31/06		2.750%		1,500,000		$1,505,504		$1,487,820		$1,504,316		$1,486,050		(1,770)		2.77%		$3,475
	U.S. Treasury Note		11/15/06		3.500%		896,000		$914,160		$895,820		$911,009		$829,819		(66,001)		3.51%		$9,203
	U.S. Treasury Note		03/31/07		3.750%		1,817,000		$1,818,737		$1,821,960		$1,818,498		$1,814,583		(7,377)		3.75%		$28,484
	U.S. Treasury Note		02/15/08		3.375%		527,000		$522,224		$523,395		$522,224		$521,235		(2,160)		3.41%		$773
	U.S. Treasury Note		03/15/10		4.000%		755,000		$755,201		$762,784		$755,137		$759,251		(3,533)		3.97%		$13,869
	U.S. Treasury Note		03/15/10		4.000%		246,000						$249,471		$247,385		247,385		3.97%		$4,519
	U.S. Treasury Infl Note		04/15/10		adjusted		317,000		$313,671		$317,107		$313,669		$317,813		706		0.89%		$1,046
							10,738,000		$10,728,577		$10,681,196		$10,750,975		$10,633,473		$1,160,905				$83,365
	Weighted Average Years to Maturity				1.38
	Weighted Average Yield				3.16%