EX-20 3 0003.txt DSI REALTY INCOME FUND X (A California Real Estate Limited Partnership) BALANCE SHEETS(UNAUDITED), JUNE 30, 2000 AND DECEMBER 31, 1999
June 30, December 31, 2000 1999 ASSETS CASH AND CASH EQUIVALENTS $2,456,205 $2,027,853 PROPERTY, Net 6,412,846 6,682,110 OTHER ASSETS 69,305 69,305 TOTAL $8,938,356 $8,779,268 LIABILITIES AND PARTNERS' EQUITY (DEFICIT) LIABILITIES $2,851,080 $2,688,822 PARTNERS' EQUITY (DEFICIT): General Partners (81,154) (81,123) Limited Partners 6,168,430 6,171,569 Total partners' equity 6,087,276 6,090,446 TOTAL $8,938,356 $8,779,268 See accompanying notes to financial statements(unaudited). STATEMENTS OF INCOME (UNAUDITED) FOR THE THREE MONTHS ENDED JUNE 30, 2000 AND 1999 June 30, June 30, 2000 1999 REVENUES: Rental Income $740,437 $715,217 Interest 19,404 14,389 Total revenue 759,841 729,606 EXPENSES: Operating Expenses 369,409 352,434 General and administrative 60,835 53,488 Total expenses 430,244 405,922 NET INCOME $329,597 $323,684 AGGREGATE NET INCOME ALLOCATED TO : Limited Partners $326,301 $320,447 General Partners 3,296 3,237 TOTAL $329,597 $323,684 NET INCOME PER LIMITED PARTNERSHIP UNIT $10.27 $10.08 LIMITED PARTNERSHIP UNITS USED IN PER UNIT CALCULATION 31,783 31,783 See accompanying notes to financial statements(unaudited). STATEMENTS OF INCOME (UNAUDITED) FOR THE SIX MONTHS ENDED JUNE 30, 2000 AND 1999 June 30, June 30, 2000 1999 REVENUES: Rental income $1,472,989 $1,377,113 Interest 35,463 27,045 Total revenues 1,508,452 1,404,158 EXPENSES: Operating 730,435 699,341 General and administrative 130,759 120,965 Total expenses 861,194 820,306 NET INCOME 647,258 583,852 AGGREGATE NET INCOME ALLOCATED TO: Limited Partners $640,785 $578,013 General Partners 6,473 5,839 TOTAL $647,258 $583,852 NET INCOME PER LIMITED PARTNERSHIP UNIT $20.16 $18.19 LIMITED PARTNERSHIP UNITS USED IN PER UNIT CALCULATION 31,783 31,783 See accompanying notes to financial statements (unaudited).
STATEMENTS OF CHANGES IN PARTNERS' EQUITY (UNAUDITED) FOR THE SIX MONTHS ENDED JUNE 30, 2000 AND 1999
GENERAL LIMITED PARTNERS PARTNERS TOTAL BALANCE AT JANUARY 1, 1999 ($75,264) $6,751,659 $6,676,395 NET INCOME 5,839 578,013 583,852 DISTRIBUTIONS (6,420) (635,660) (642,080) BALANCE AT JUNE 30, 1999 ($75,845) $6,694,012 $6,618,167 BALANCE AT JANUARY 1, 2000 ($81,123) $6,171,569 $6,090,446 NET INCOME 6,473 640,785 647,258 DISTRIBUTIONS (6,504) (643,924) (650,428) BALANE AT JUNE 30, 2000 ($81,154) $6,168,430 $6,087,276 See accompanying notes to financial statements(unaudited).
STATEMENTS OF CASH FLOWS (UNAUDITED) FOR THE SIX MONTHS ENDED JUNE 30, 2000 AND 1999
June 30, June 30, 2000 1999 CASH FLOWS FROM OPERATING ACTIVITIES: Net income $ 647,258 $ 583,852 Adjustments to reconcile net income to net cash provided by operating activities: Depreciation 269,264 269,262 Loss on disposal of property and equipment 0 630 Changes in assets and liabilities: Increase in other assets 0 (2,499) Increase in liabilities 162,258 161,434 Net cash provided by operating activities 1,078,780 1,012,679 CASH FLOWS FROM FINANCING ACTIVITIES - Distributions to partners (650,428) (642,080) NET INCREASE IN CASH AND CASH EQUIVALENTS 428,352 370,599 CASH AND CASH EQUIVALENTS: At beginning of period 2,027,853 1,772,250 At end of period $2,456,205 $2,142,849 See accompanying notes to financial statements(unaudited).
DSI REALTY INCOME FUND X (A California Real Estate Limited Partnership) NOTES TO FINANCIAL STATEMENTS (UNAUDITED) 1. GENERAL DSI Realty Income Fund X (the "Partnership") has three general partners (DSI Properties, Inc., Robert J. Conway and Joseph W. Conway) and limited partners owning 31,783 limited partnership units. The accompanying financial information as of June 30, 2000, and for the periods ended June 30, 2000 and 1999 is unaudited. Such financial information includes all adjustments which are considered necessary by the Partnership's management for a fair presentation of the results for the periods indicated. 2. PROPERTY The Partnership owns five mini-storage facilities. Two facilities are located in Warren, Michigan; one facility is located in Troy, Michigan; one facility is located in Crestwood, Illinois; and one facility is located in Forestville, Maryland. As of June 30, 2000, the total cost and accumulated depreciation of the mini-storage facilities is as follows: Land $ 2,089,882 Buildings 10,834,474 Furniture and Equipment 5,810 Total 12,930,166 Less: Accumulated Depreciation ( 6,517,320) Property - Net $ 6,412,846
3. NET INCOME PER LIMITED PARTNERSHIP UNIT Net income per limited partnership unit is calculated by dividing the net income allocated to the limited partners by the number of limited partnership units outstanding during the period.