Schedule  3

Lamar State College - Orange

Quarterly Investment Report

For the Quarter Ended August 31, 2003

Purchase

Maturity

Book Balance

Additions

Deductions

Book Balance

Market Balance

Investment Income

Agency/Description

Date

Date

5/31/2003

Purchases

Earnings

Returns

8/31/2003

8/31/2003

Current Quarter

FY-to-Date

Short-Term Investments (less than 1 year):

Pooled Investments

Discount Note - At Cost

Discount Note - At Market

TexPool - at Cost

5/31/2003

OPEN

$    7,222,198.65

$      370,000.00

$    18,555.32

$  1,602,747.46

$   6,008,006.51

$    18,555.32

$     103,042.66

TexPool - at Market

$    7,222,198.65

$  6,008,006.51

Total Short-Term Investments

At Cost

$    7,222,198.65

$      370,000.00

$    18,555.32

$  1,602,747.46

$   6,008,006.51

$    18,555.32

$     103,042.66

At Market

$    7,222,198.65

$  6,008,006.51

Average Earnings Rate

1.14%

Benchmark Rate (See Note A)

0.87%

Over/Under Realization

0.27%

Note A:  The Benchmark Rate is 95% of the average 30-day T-bill rate,

on the first day of each month of the Quarter (from the Wall Street Journal)

Note B:   Balance of Fund 2 (0285-Local E & G) in State Treasury as of:

11/30/2002                    $ 1,572,564.24

02/28/2003                    $ 1,797,628.43

05/31/2003                    $ 1,873,812.75

08/31/2003                    $1,896,003.00