White Pine Library Cooperative                                                     

                                                            BALANCE SHEET                                                              
                                                            January 31, 2006   
     

                                                    

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

                                    Petty Cash                               500.00                                                     
                                    Checking Account                      85,114.96                                                     
                                     Independent Bank CD                 100,000.00                                                     
                                     Citizens Bank CD #1                 100,000.00                                                     
                                     Citizens Bank CD #2                  60,000.00                                                     
                                     Citizens Bank Cd #3                  40,000.00                                                     
                                    Payroll                                  100.00                                                     
                                    Escrow                                     0.00                                                     
                                    Accounts Receivable                   15,824.98                                                     
                                    Inventory                                 -0.00                                                     
                                    Prepaid Expenses                           0.00                                                     
                                    Grants Receivable                         -0.00                                                     
                                    Credit Receivable                          0.00                                                     
                                                                     ==============                                                     
                                    TOTAL ASSETS                         401,539.94                                                     



                                    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            173,549.02                                                     
                                                                     ==============                                                     
                                    TOTAL CAPITAL PLUS                                                                                  
                                    LIABILITIES                          401,539.94