Schedule  3
Lamar State College - Orange
Quarterly Investment Report
For the Quarter Ended February 29, 2004
Purchase Maturity Book Balance Additions Deductions Book Balance Market Balance Investment Income
Agency/Description Date Date 11/30/2003 Purchases Earnings Returns 2/29/2004 2/29/2004 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 11/30/2003 OPEN  $    6,023,474.71  $                   -    $    15,422.77  $   6,038,897.48  $    15,422.77  $       30,890.97
         TexPool - at Market  $    6,023,474.71  $  6,038,897.48
                 
Total Short-Term Investments    
      At Cost  $    6,023,474.71  $                   -    $    15,422.77  $                 -    $   6,038,897.48  $    15,422.77  $       30,890.97
      At Market  $    6,023,474.71                  $  6,038,897.48        
 
 
Average Earnings Rate 1.04%
Benchmark Rate (See Note A) 0.78%   0.95*(0.0451+0.0466+0.0514)/3
Over/Under Realization 0.25%
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:
  11/30/2003                    $ 1,399,004.94         
  02/28/2004                     $1,919,938.98                    
  05/31/2004                    
  08/31/2004