White Pine Library Cooperative     
                                                      BALANCE SHEET             
                                                    December 31, 2007           


                                               

                                    Account Name                       Balance YTD
                                    -------------------------        -------------
                                    ASSETS                                         
                                    Petty Cash                               500.00
                                    Checking Account                     285,608.36
                                     Independent Bank CD                 108,797.85
                                     Citizens Bank CD #1                 100,000.00
                                     Citizens Bank CD #2                 100,000.00
                                     Citizens Bank Cd #3                       0.00
                                    Payroll                                  100.00
                                    Escrow                                     0.00
                                    Accounts Receivable                   87,196.69
                                    Inventory                                 -0.00
                                    Prepaid Expenses                       5,084.62
                                    Grants Receivable                         -0.00
                                    Credit Receivable                          0.00
                                                                     ==============
                                    TOTAL ASSETS                         687,287.52



                                    LIABILITIES                           

                                    Accounts Payable                           0.00 
                                    Retirement Payable                         0.00 
                                    Accrued Accounts Payable                 282.00 
                                    Sales Tax Payable                          0.00 
                                    Accrued Payroll                            0.00 
                                    Accrued Benefits                           0.00 
                                    Lease payable                             -0.00 
                                    Copier lease payable                     709.07 
                                    Deferred Renenue                           0.00 
                                    TOTAL LIABILITIES                        991.07 



                                    CAPITAL                                         

                                    Fund Balance                         316,443.52 
                                    Income minus Expenditures            369,852.93 
                                                                     ============== 
                                    TOTAL CAPITAL PLUS                              
                                    LIABILITIES                          687,287.52