Date: 10/27/04                         Lincoln Trail Libraries System               Page: 1
                                                     Balance Sheet
                                                     As Of 9/30/04
                                                For LIVE & LEARN GRANTS
                                                                                                   Current
                                                                                                     YTD
               ASSETS
                  CURRENT ASSETS
                  BankIllinois Prime Investment                                                      135,397.51
                  BankIllinois Board Checking                                                           (590.10)
                  Due from Related Parties                                                           127,988.00
               PROPERTY, PLANT AND EQUIPMENT

               TOTAL ASSETS                                                                         $262,795.41

               LIABILITIES
                  Accounts Payable                                                                      $156.70
               Accrued Liabilities
                  IMRF Withholding Payable                                                               179.04
                  Deferred Revenue                                                                   171,562.50

               TOTAL LIABILITIES                                                                    $171,898.24
               FUND EQUITY
               Designated Fund Balance
                  Unreserved/Undesignated Funds                                                      103,853.77
               Net Profit/(Loss)                                                                    ($12,956.60)

               TOTAL FUND EQUITY                                                                     $90,897.17

               TOTAL LIABILITIES & FUND BALANCE                                                     $262,795.41