White Pine Library Cooperative
                  BALANCE SHEET
                  July 31, 2004


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

Petty Cash                               500.00
Checking Account                     306,659.18
Cert. of Deposit                          -0.00
Payroll                                  100.00
Escrow                                     0.00
Accounts Receivable                    3,629.29
Inventory                                 -0.00
Prepaid Expenses                           0.00
Grants Receivable                         -0.00
Credit Receivable                          0.00
                                 ==============
TOTAL ASSETS                         310,888.47



LIABILITIES                                    

Accounts Payable                           0.06
Retirement Payable                      -360.00
Accrued Accounts Payable                  -0.00
Sales Tax Payable                          0.00
Accrued Payroll                            0.00
Accrued Benefits                           0.00
Lease payable                            342.58
Copier lease payable                   1,223.44
Deferred Renenue                           0.00
                                 ==============
TOTAL LIABILITIES                      1,926.02


CAPITAL                                        

Fund Balance                         284,851.77
Income minus Expenditures             24,110.68
                                 ==============
TOTAL CAPITAL PLUS                             
LIABILITIES                          310,888.47