Date: 11/16/04                         Lincoln Trail Libraries System               Page: 1
                                                     Balance Sheet
                                                    As Of 10/31/04
                                                For LIVE & LEARN GRANTS
                                                                                                   Current
                                                                                                     YTD
               ASSETS
                  CURRENT ASSETS
                  BankIllinois Prime Investment                                                      129,935.40
                  BankIllinois Board Checking                                                         (1,508.34)
                  Due from Related Parties                                                           127,988.00
               PROPERTY, PLANT AND EQUIPMENT

               TOTAL ASSETS                                                                         $256,415.06

               LIABILITIES
                  Accounts Payable                                                                       $27.36
               Accrued Liabilities
                  Deferred Revenue                                                                   171,562.50

               TOTAL LIABILITIES                                                                    $171,589.86
               FUND EQUITY
               Designated Fund Balance
                  Unreserved/Undesignated Funds                                                      103,853.77
               Net Profit/(Loss)                                                                    ($19,028.57)

               TOTAL FUND EQUITY                                                                     $84,825.20

               TOTAL LIABILITIES & FUND BALANCE                                                     $256,415.06