Stephen F. Austin State University
Statement of Changes in Investment Assets
Operating Fund
At August 31, 2008
Book Value Market Value
Beginning Investment Assets - 06/01/2008  $24,451,825.59  $24,998,621.83
Receipts/Contributions    25,254,798.59    25,254,798.59
Investment Income         273,867.15         273,867.15
Change in Accrued Interest         (20,463.15)
Distributions     (4,378,994.81)     (4,378,994.81)
Net Realized Gains (Losses)
Change in Cost Basis           (4,314.82)
Changes in Net Unrealized Appreciation (Depreciation)            79,488.90
Ending Investment Assets - 08/31/2008  $45,597,181.70  $46,207,318.51
Rate of Return 0.94%
Accrued interest for the reporting period  $     139,744.83
Prior period accrued interest  $     160,207.98
Prepared in Compliance with Generally Accepted Accounting Priniciples