White Pine Library Cooperative                                                     
                                                             BALANCE SHEET                                                              
                                                           December 31, 2005                                                            





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

                                    Petty Cash                               500.00                                                     
                                    Checking Account                     404,482.90                                                     
                                    Cert. of Deposit                          -0.00                                                     
                                    Payroll                                  100.00                                                     
                                    Escrow                                     0.00                                                     
                                    Accounts Receivable                   23,137.69                                                     
                                    Inventory                                 -0.00                                                     
                                    Prepaid Expenses                           0.00                                                     
                                    Grants Receivable                         -0.00                                                     
                                    Credit Receivable                          0.00                                                     
                                                                     ==============                                                     
                                    TOTAL ASSETS                         428,220.59                                                     



                                    LIABILITIES                                                                                         

                                    Accounts Payable                           0.00                                                     
                                    Retirement Payable                         0.00                                                     
                                    Accrued Accounts Payable               3,564.00                                                     
                                    Sales Tax Payable                          0.00                                                     
                                    Accrued Payroll                            0.00                                                     
                                    Accrued Benefits                           0.00                                                     
                                    Lease payable                            836.14                                                     
                                    Copier lease payable                   1,461.98                                                     
                                    Deferred Renenue                           0.00                                                     
                                    TOTAL LIABILITIES                      5,862.12                                                     



                                    CAPITAL                                                                                             

                                    Fund Balance                         222,128.80                                                     
                                    Income minus Expenditures            200,229.67                                                     
                                                                     ==============                                                     
                                    TOTAL CAPITAL PLUS                                                                                  
                                    LIABILITIES                          428,220.59