White Pine Library Cooperative                                                     
                                      BALANCE SHEET                                                              
                                    March 31, 2006     


                                                        
                     Account Name                       Balance YTD                                                      
                     -------------------------        --------------                                                     
                     ASSETS                                                                                              
                     Petty Cash                               500.00                                                     
                     Checking Account                      62,208.39                                                     
                     Independent Bank CD                 100,000.00                                                     
                     Citizens Bank CD #1                 100,000.00                                                     
                     Citizens Bank CD #2                  60,000.00                                                     
                     Citizens Bank Cd #3                       0.00                                                     
                     Payroll                                  100.00                                                     
                     Escrow                                     0.00                                                     
                     Accounts Receivable                   15,306.48                                                     
                     Inventory                                 -0.00                                                     
                     Prepaid Expenses                           0.00                                                     
                     Grants Receivable                         -0.00                                                     
                     Credit Receivable                          0.00                                                     
                                                      ==============                                                     
                     TOTAL ASSETS                         338,114.87                                                     



                     LIABILITIES                                                                                         

                     Accounts Payable                           0.00                                                     
                     Retirement Payable                         0.00                                                     
                     Accrued Accounts Payable                  -0.00                                                     
                     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                      2,298.12                                                     


                     CAPITAL                                                                                             

                     Fund Balance                         222,128.80                                                     
                     Income minus Expenditures            113,687.95                                                     
                                                      ==============                                                     
                     TOTAL CAPITAL PLUS                                                                                  
                     LIABILITIES                          338,114.87