Date: 6/14/05                          Lincoln Trail Libraries System               Page: 1
                                                     Balance Sheet
                                                     As Of 4/30/05
                                                For LIVE & LEARN GRANTS
                                                                                                   Current
                                                                                                     YTD
               ASSETS
                  CURRENT ASSETS
                  BankIllinois Prime Investment                                                       94,615.73
                  BankIllinois Board Checking                                                            960.74
                  BankIllinois Payroll Checking                                                          (11.80)
                  Due from Related Parties                                                           127,988.00
               PROPERTY, PLANT AND EQUIPMENT

               TOTAL ASSETS                                                                         $223,552.67

               LIABILITIES
                  Accounts Payable                                                                      $221.19
               Accrued Liabilities
                  Deferred Revenue                                                                   171,562.50

               TOTAL LIABILITIES                                                                    $171,783.69
               FUND EQUITY
               Designated Fund Balance
                  Unreserved/Undesignated Funds                                                      103,853.77
               Net Profit/(Loss)                                                                    ($52,084.79)

               TOTAL FUND EQUITY                                                                     $51,768.98

               TOTAL LIABILITIES & FUND BALANCE                                                     $223,552.67