Checking/Operating Fund

     Beginning Balance 7/1/96          $ 6,338.86
         Income            $45,414.21
         Expenses          $14,656.00

   Ending Balance 5/31/97            $37,097.07

Savings/Reserve Fund

     Beginning Balance 7/1/96          $20,000.00
        Income            $15,673.17
         Expenses              $0.00

     Ending Balance 5/31/97            $35,673.17

         Total Available Funds         $72,770.24

Highlights:

     - No issues of b/ITE were published.
     - Funds raised for Seattle Conference totaled $5,600.00

Income:

     Allotment               $25,524.80
     Advertising             $   352.00
     Fund Raising            $ 5,600.00
     Interest                $ 1,111.34
     Other                   $   800.00 (Atlanta Conf/Public Utilities Div)
     Account Transfers       $12,026.07
            Total            $45,414.21

Expenses:

     Boston Conference       $ 7,548.54
     Montreal/Internet       $ 6,331.46
     Bank Charges            $    46.00
     Winter Meeting          $   730.00
            Total            $14,656.00

Seattle Contributions:

     Lexis/Nexis             $   500.00
     Library Assn            $   300.00
     Faxon                   $   500.00
     Knight Ridder           $ 1,000.00
     CAS                     $   500.00
     OCLC                    $   750.00
     ISI                     $ 1,000.00
     H.W. Wilson             $   500.00
     Silver/Platter          $   300.00
     Ebsco                   $   250.00
            Total            $ 5,600.00