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Music Library Association.

STATEMENTS OF FINANCIAL POSITION

June 30, 2006 and 2005

                                        2006        2005

ASSETS
  Cash and cash equivalents:
    Unrestricted                          $112,253     $46,893
    Restricted, Mellon Grant                99,735     250,854
    Temporarily restricted                  14,405      15,034
    Permanently restricted                   2,612       2,713
    Total cash and cash equivalents        229,005     315,494
  Certificate of deposit--restricted,       60,000           0
    Mellon Grant
  Accounts receivable, less allowance        5,047      33,860
    for doubtful accounts 2006-$3,800;
    2005-$0
  Inventories                                7,692       9,310
  Investments in mutual funds:
    Unrestricted                           568,881     525,652
    Temporarily restricted                  22,564      15,910
    Permanently restricted                 154,580     144,580
    Total investments in mutual funds      746,025     686,142
  Equipment, net of accumulated              2,143       1,170
    depreciation 2006-$2,547;
    2005-$1,879
  TOTAL ASSETS                          $1,049,912  $1,045,976
LIABILITIES AND NET ASSETS
  Accounts payable                         $13,962     $15,275
  Customer prepayments                      59,382      57,110
  Mellon Grant payable                     129,084     248,960
  Total liabilities                        202,428     321,345
NET ASSETS
  Unrestricted                             654,080     546,394
  Temporarily restricted                    36,212      30,944
  Permanently restricted                   157,192     147,293
  Total net assets                         847,484     724,631
TOTAL LIABILITIES AND NET ASSETS        $1,049,912  $1,045,976

The accompanying notes are an integral part of these financial
statements.
COPYRIGHT 2007 Music Library Association, Inc.
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 2007 Gale, Cengage Learning. All rights reserved.

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Title Annotation:Financial Statements
Publication:Notes
Article Type:Financial report
Geographic Code:1USA
Date:Jun 1, 2007
Words:208
Previous Article:Independent auditor's report.
Next Article:Music Library Association.


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