Date: 9/16/05                          Lincoln Trail Libraries System               Page: 1
                                                     Balance Sheet
                                                     As Of 6/30/05
                                                For LIVE & LEARN GRANTS
                                                                                                   Current
                                                                                                     YTD
               ASSETS
                  CURRENT ASSETS
                  Main St. Bank & Trust  Prime Investment                                             68,028.61
                  Main St. Bank & Trust  Board Checking                                                1,604.04
                  Main St. Bank & Trust Payroll Checking                                                 (11.80)
                  Main St. Bank & Trust Grant Account                                                  4,000.00
                  Prepaid Expenses                                                                       500.00
               PROPERTY, PLANT AND EQUIPMENT

               TOTAL ASSETS                                                                          $74,120.85

               LIABILITIES
                  Accounts Payable                                                                   $45,025.77
               Accrued Liabilities
                  Other Accrued Liabilities                                                              767.96
                  Deferred Revenue                                                                     3,999.03
                  Compensated Absences                                                                   952.01

               TOTAL LIABILITIES                                                                     $50,744.77
               FUND EQUITY
                  Reserve for Encumbrances                                                           $10,695.75
               Designated Fund Balance
                  Operating Expenses Fund                                                            (10,695.75)
                  Unreserved/Undesignated Funds                                                      103,853.77
               Net Profit/(Loss)                                                                    ($80,477.69)

               TOTAL FUND EQUITY                                                                     $23,376.08

               TOTAL LIABILITIES & FUND BALANCE                                                      $74,120.85