DSI REALTY INCOME FUND X
(A California Real Estate Limited Partnership)
BALANCE SHEETS(UNAUDITED), JUNE 30, 2000 AND DECEMBER 31, 1999
<TABLE>
<CAPTION>
June 30, December 31,
2000 1999
<S> <C> <C>
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).
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STATEMENTS OF CHANGES IN PARTNERS' EQUITY (UNAUDITED)
FOR THE SIX MONTHS ENDED JUNE 30, 2000 AND 1999
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<CAPTION>
GENERAL LIMITED
PARTNERS PARTNERS TOTAL
<S> <C> <C> <C>
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).
</TABLE>
STATEMENTS OF CASH FLOWS (UNAUDITED)
FOR THE SIX MONTHS ENDED JUNE 30, 2000 AND 1999
<TABLE>
<CAPTION>
June 30, June 30,
2000 1999
<S> <C> <C>
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).
</TABLE>
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:
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<S> <C>
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
</TABLE>
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.
