Date: 1/18/05                          Lincoln Trail Libraries System               Page: 1
                                                     Balance Sheet
                                                    As Of 12/31/04
                                                For LIVE & LEARN GRANTS
                                                                                                   Current
                                                                                                     YTD
               ASSETS
                  CURRENT ASSETS
                  BankIllinois Prime Investment                                                      119,656.96
                  BankIllinois Board Checking                                                           (267.85)
                  Due from Related Parties                                                           127,988.00
               PROPERTY, PLANT AND EQUIPMENT

               TOTAL ASSETS                                                                         $247,377.11

               LIABILITIES
                  Accounts Payable                                                                    $1,644.78
               Accrued Liabilities
                  Deferred Revenue                                                                   171,562.50

               TOTAL LIABILITIES                                                                    $173,207.28
               FUND EQUITY
               Designated Fund Balance
                  Unreserved/Undesignated Funds                                                      103,853.77
               Net Profit/(Loss)                                                                    ($29,683.94)

               TOTAL FUND EQUITY                                                                     $74,169.83

               TOTAL LIABILITIES & FUND BALANCE                                                     $247,377.11