Date: 7/19/04                          Lincoln Trail Libraries System               Page: 1
                                              Balance Sheet (Preliminary)
                                                     As Of 6/30/04
                                                   For GENERAL FUND
                                                                                                   Current
                                                                                                     YTD
               ASSETS
                  CURRENT ASSETS
                  Petty Cash                                                                            $100.00
                  BankIllinois Prime Investment                                                     (385,975.33)
                  BankIllinois Board Checking                                                         (2,920.60)
                  BankIllinois Payroll Checking                                                        1,000.00
                  BankIllinois Grant Account                                                              39.28
                  The Illinois Funds-Money Market                                                    113,496.91
                  The Illinois Funds-Prime Funds                                                     644,278.05
                  Due from Related Parties                                                               609.70
               Prepaid Expenses                                                                          394.50
               PROPERTY, PLANT AND EQUIPMENT
                  Land                                                                               $20,773.00
                  Building and Improvements                                                          497,790.19
                  Equipment                                                                        1,034,768.79
                  Amount Provided-Long Term Debt                                                      38,483.24

               TOTAL ASSETS                                                                       $1,962,837.73

               LIABILITIES
                  Accounts Payable                                                                   $10,597.47
               Accrued Liabilities
                  IMRF Withholding Payable                                                             2,785.87
                  Health Insurance Withholding Payable                                                   705.28
                  Other Accrued Liabilities                                                           15,555.40
                  Compensated Absences                                                                38,483.24
                  Investment in Gen'l Fixed Assets                                                 1,553,331.98

               TOTAL LIABILITIES                                                                  $1,621,459.24
               FUND EQUITY
               Designated Fund Balance
                  Operating Expenses Fund                                                            277,189.60
                  Unreserved/Undesignated Funds                                                       58,121.38
               Net Profit/(Loss)                                                                      $6,067.51

               TOTAL FUND EQUITY                                                                    $341,378.49

               TOTAL LIABILITIES & FUND BALANCE                                                   $1,962,837.73