Stephen F. Austin State University
Statement of Changes in Investment Assets
Operating Fund
At August 31, 2005
Book Value Market Value
Beginning Investment Assets - 06/01/05 19,434,434.37 19,482,406.27
Receipts/Contributions 3,480,641.49 3,480,641.49
Investment Income 120,885.35 120,885.35
Change in Accrued Interest 10,016.93
Distributions (3,991,608.20) (3,991,608.20)
Net Realized Gains (Losses) (580.10) (580.10)
Change in Cost Basis (19,474.68)
Changes in Net Unrealized Appreciation (Depreciation)   (27,595.78)
Ending Investment Assets - 08/31/05 19,024,298.23 19,074,165.96
Rate of Return 0.53%
Accrued interest for the reporting period 105,369.83
Prior period accrued interest 95,352.90
Prepared in Compliance with Generally Accepted Accounting Priniciples