Crane Lake Water & Sanitary District Balance Sheet as of May 31, 2008
ASSETS
	Current Assets
		Checking/Savings
			100-Orr Bank
				Administrative Fund		44,746.65
				GC Capital Reserve Fund
					Hookup Fee Fund	14,300.00
					Operating Reserve Fund	11,950.00
				Total GC Capital Reserve Fund		26,250.00
				GC Sewer Operating Fund
					Base Volume Charge Fund	18,749.87
					Service Connection Fund	14,050.00
				Total GC Sewer Operating Fund		32,799.87
				ISTS Fund		2,772.00
			Total 100-Orr Bank			106,568.52
			103-CD 0001-AB			13,117.96
			104-Savings-AB			4,438.79
		Total Checking/Savings				124,125.27
		Other Current Assets
			115-AR/RVS Summary			8,123.88
		Total Other Current Assets				8,123.88
	Total Current Assets					132,249.15
	Fixed Assets
		140-Land				15,024.00
		150-Office Equipment				5,865.60
		151-Accumulated Depr. Off.Equip				-2,968.00
		155-Equipment				8,265.00
		156-Accum. Depreciate Equip				-787.14
		160-Construction In Progress				3,317,835.51
	Total Fixed Assets					3,343,234.97
TOTAL ASSETS						3,475,484.12
LIABILITIES & EQUITY
	Liabilities
		Current Liabilities
			Accounts Payable
				201-Accounts Payable		49,680.94
			Total Accounts Payable			49,680.94
			Other Current Liabilities
				Payroll Liabilities		2,519.55
			Total Other Current Liabilities			2,519.55
		Total Current Liabilities				52,200.49
		Long Term Liabilities
			222-Rural Development Loan			1,297,250.00
		Total Long Term Liabilities				1,297,250.00
	Total Liabilities					1,349,450.49
	Equity
		255-Contributed Capital				169,294.00
		256-Retained Earnings				1,996,777.06
		Net Income				-40,037.43
	Total Equity					2,126,033.63
TOTAL LIABILITIES & EQUITY						3,475,484.12