Date: 7/19/04                          Lincoln Trail Libraries System               Page: 1
                                              Balance Sheet (Preliminary)
                                                     As Of 6/30/04
                                          For Gen'l & Internal Service Funds
                                                                                                   Current
                                                                                                     YTD
               ASSETS
                  CURRENT ASSETS
                  Petty Cash                                                                            $100.00
                  BankIllinois Prime Investment                                                     (218,386.39)
                  BankIllinois Board Checking                                                        (68,320.37)
                  BankIllinois Payroll Checking                                                        1,000.00
                  BankIllinois Grant Account                                                              39.28
                  Certificates of Deposit                                                            100,000.00
                  The Illinois Funds-Money Market                                                    227,510.68
                  The Illinois Funds-Prime Funds                                                     785,480.15
                  Due from Related Parties                                                             1,552.10
                  Inventory                                                                            4,836.16
               Prepaid Expenses                                                                       10,975.01
               PROPERTY, PLANT AND EQUIPMENT
                  Land                                                                               $20,773.00
                  Building and Improvements                                                          500,435.26
                  Equipment                                                                        1,664,604.01
                  Accumulated Depreciation                                                          (338,212.70)
                  Amount Provided-Long Term Debt                                                      38,483.24

               TOTAL ASSETS                                                                       $2,730,869.43

               LIABILITIES
                  Accounts Payable                                                                  $155,406.54
               Accrued Liabilities
                  IMRF Withholding Payable                                                             3,983.70
                  Health Insurance Withholding Payable                                                   705.28
                  Other Accrued Liabilities                                                           21,371.76
                  Compensated Absences                                                                49,971.86
                  Investment in Gen'l Fixed Assets                                                 1,553,331.98

               TOTAL LIABILITIES                                                                  $1,784,771.12
               FUND EQUITY
               Designated Fund Balance
                  Operating Expenses Fund                                                            277,189.60
                  Capital Maintenance Fund                                                           233,331.06
                  Unreserved/Undesignated Funds                                                       58,121.38
                  Appropriated Funds                                                                 155,403.34
                  Contributed Capital                                                                 84,441.00
                  Retained Earnings                                                                   15,362.44
               Net Profit/(Loss)                                                                    $122,249.49

               TOTAL FUND EQUITY                                                                    $946,098.31

               TOTAL LIABILITIES & FUND BALANCE                                                   $2,730,869.43