YTD Revenue as of March 31 FY03 FY02 State Appropriations 4,771,971 4,706,877 Tuition and Fees 6,823,676 4,807,750 Advalorem Taxes 3,185,943 3,059,465 Mandatory Transfers 0 75 Non-mandatory Tfr 17,799 300,000 Other Revenues 730,022 459,574 Total Revenues 15,529,411 13,333,741

YTD Expenditures as of March 31 FY03 FY02 Salaries 7,474,574 7,279,661 Employee Benefits 883,621 806,274 Capital Expenditures 86,004 360,650 Mandatory Transfers 961,195 942,869 Non-mandatory Tfr 0 0 Other Expenditures 3,412,510 2,681,084 Total Expenditures 12,817,904 12,070,537

INVESTMENT REPORT 2nd Quarter 2003 PERIOD COVERS December 1, 2002 THRU February 28, 2003

SUMMARY OF CHANGES FOR THE PERIOD COVERING 12/01/02 – 02/28/03 UNRESTRICTED FUND Purchased None Matured None Called None Received/accrued income $30,383.41 Net change in market value $ 0.00

SUMMARY OF CHANGE (CONT) ENDOWMENT Purchased None Matured None Called FHLB Note $1,200,000.00 (12-19-02) Received/accrued income $44,758.62 Net change in market value Stocks ($ 3,505.89) Government Securities ($14,690.00)

SUMMARY OF CHANGE (CONT) PLANT Purchased None Matured None Called None Received/accrued income $15,187.74 Net change in market value Government Securities $ 5,000.00 Stocks $ 301.28

SUMMARY OF CHANGE (CONT) BOND FUNDS Purchased None Matured None Called None Received/accrued income $ 8,626.30 Net change in market value $ 0.00

SUMMARY OF CHANGE (CONT) AUXILIARY Received/accrued income $ 386.57 SCHOLARSHIP Received/accrued income $ 48.74 AGENCY Received/accrued income $ 293.67 RESTRICTED Received/accrued income $ 20.15 These funds had changes in Texpool only