White Pine Library Cooperative                                                     
                                                                                                           
                                                  BALANCE SHEET                                                              
                                               December 30, 2006                                                            



                                    Account Name                       Balance YTD                                                      
                                    -------------------------        --------------                                                     
                                    ASSETS                                                                                              

                                    Petty Cash                               500.00                                                     
                                    Checking Account                     293,299.46                                                     
                                     Independent Bank CD                 103,560.22                                                     
                                     Citizens Bank CD #1                 100,000.00                                                     
                                     Citizens Bank CD #2                       0.00                                                     
                                     Citizens Bank Cd #3                       0.00                                                     
                                    Payroll                                  100.00                                                     
                                    Escrow                                     0.00                                                     
                                    Accounts Receivable                   54,874.15                                                     
                                    Inventory                                 -0.00                                                     
                                    Prepaid Expenses                           0.00                                                     
                                    Grants Receivable                         -0.00                                                     
                                    Credit Receivable                          0.00                                                     
                                                                     ==============                                                     
                                    TOTAL ASSETS                         552,333.83                                                     



                                    LIABILITIES                                                                                         

                                    Accounts Payable                       9,299.76                                                     
                                    Retirement Payable                      -888.80                                                     
                                    Accrued Accounts Payable               2,693.50                                                     
                                    Sales Tax Payable                          0.00                                                     
                                    Accrued Payroll                        2,972.96                                                     
                                    Accrued Benefits                         473.74                                                     
                                    Lease payable                            580.83                                                     
                                    Copier lease payable                   1,598.15                                                     
                                    Deferred Renenue                       4,569.46                                                     
                                    TOTAL LIABILITIES                     21,299.60                                                     



                                    CAPITAL                                                                                             

                                    Fund Balance                         254,077.59                                                     
                                    Income minus Expenditures            276,956.64                                                     
                                                                     ==============                                                     
                                    TOTAL CAPITAL PLUS                                                                                  
                                    LIABILITIES                          552,333.83