Date: 6/23/05                          Lincoln Trail Libraries System               Page: 1
                                                     Balance Sheet
                                                     As Of 5/31/05
                                                For LIVE & LEARN GRANTS
                                                                                                   Current
                                                                                                     YTD
               ASSETS
                  CURRENT ASSETS
                  BankIllinois Prime Investment                                                       91,199.15
                  BankIllinois Board Checking                                                            639.70
                  BankIllinois Payroll Checking                                                          (11.80)
                  Due from Related Parties                                                           127,988.00
               PROPERTY, PLANT AND EQUIPMENT

               TOTAL ASSETS                                                                         $219,815.05

               LIABILITIES
               Accrued Liabilities
                  Deferred Revenue                                                                   171,562.50

               TOTAL LIABILITIES                                                                    $171,562.50
               FUND EQUITY
               Designated Fund Balance
                  Unreserved/Undesignated Funds                                                      103,853.77
               Net Profit/(Loss)                                                                    ($55,601.22)

               TOTAL FUND EQUITY                                                                     $48,252.55

               TOTAL LIABILITIES & FUND BALANCE                                                     $219,815.05