UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q (Mark One) QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended June 30, 2002 ------------------------------------ OR TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to ----------------------- ------------------------ Commission file number 0-20164 ---------------------------- Krupp Government Income Trust II Massachusetts 04-3073045 (State or other jurisdiction of incorporation or organization) (IRS employer identification no.) One Beacon Street, Boston, Massachusetts 02108 (Address of principal executive offices) (Zip Code) (617) 523-0066 (Registrant's telephone number, including area code) Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days. Yes X No ----- ------Part I. FINANCIAL INFORMATION Item 1. FINANCIAL STATEMENTS - ------ This Form 10-Q contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. When used in this Form 10-Q, the words "believes," "anticipates," "expects," "plans," "intends," "estimates," "continue," "may" or "will" (or the negative of such words) and similar expressions are intended to identify forward-looking statements. Such statements are subject to a number of risks and uncertainties, including but not limited to the following: federal, state or local regulations; adverse changes in general economic or local conditions; prepayments of mortgages; failure of borrowers to pay participation interests due to poor operating results of properties underlying the mortgages; uninsured losses and potential conflicts of interest between the Trust and its Affiliates, including the Trustees. The Company's filings with the Securities and Exchange Commission, including its Annual Report on Form 10-K for the year ended December 31, 2001, contain additional information concerning such risk factors. Actual results in the future could differ materially from those described in any forward-looking statements as a result of the risk factors set forth above, and the risk factors described in the Annual Report. KRUPP GOVERNMENT INCOME TRUST II BALANCE SHEETS ASSETS June 30, December 31, 2002 2001 ------------- --------------- Participating Insured Mortgage Investments ("PIMIs")(Note 2) Insured mortgages $ 59,229,805 $ 85,625,185 Additional Loans, net of impairment provision of $0 and $500,000, respectively 13,654,000 17,654,500 Participating Insured Mortgages ("PIMs")(Note 2) 37,032,913 37,239,922 Mortgage-Backed Securities ("MBS")(Note 3) 13,098,425 15,600,964 ------------- --------------- Total mortgage investments 123,015,143 156,120,571 Cash and cash equivalents 4,867,553 6,453,663 Interest receivable and other assets 1,038,766 1,174,106 Prepaid acquisition fees and expenses, net of accumulated amortization of $6,824,434 and $7,964,938, respectively 1,790,474 2,913,250 Prepaid participation servicing fees, net of accumulated amortization of $2,107,459 and $2,420,697, respectively 661,285 1,102,473 -------------- --------------- Total assets $ 131,373,221 $ 167,764,063 ============== =============== LIABILITIES AND SHAREHOLDERS' EQUITY Deferred income on Additional Loans (Note 2) $ - $ 1,242,282 Other liabilities 100,387 25,985 -------------- --------------- Total liabilities 100,387 1,268,267 --------------- -------------- Shareholders' equity (Note 4) Common stock, no par value; 25,000,000 Shares authorized; 18,371,477 Shares issued and outstanding 130,884,349 166,214,677 Accumulated comprehensive income 388,485 281,119 -------------- --------------- Total Shareholders' equity 131,272,834 166,495,796 -------------- --------------- Total liabilities and Shareholders' equity $ 131,373,221 $ 167,764,063 ============== =============== The accompanying notes are an integral part of the financial statements. KRUPP GOVERNMENT INCOME TRUST II STATEMENTS OF INCOME AND COMPREHENSIVE INCOME For the Three Months For the Six Months Ended June 30, Ended June 30, -------------------------------------------------------------------- 2002 2001 2002 2001 -------------- --------------- -------------- -------------- Revenues: Interest income - PIMs and PIMIs: Basic interest $ 1,655,328 $ 2,575,956 $ 3,629,965 $ 5,301,009 Additional Loan interest 292,378 394,533 2,498,605 1,061,959 Participation interest - 113,253 2,673,573 2,624,332 Interest income - MBS 223,134 316,868 449,141 648,691 Interest income - cash and cash equivalents 29,816 76,134 75,638 200,890 -------------- ---------------- -------------- -------------- Total revenues 2,200,656 3,476,744 9,326,922 9,836,881 -------------- --------------- -------------- -------------- Expenses: Asset management fee to an affiliate 229,713 349,666 493,300 712,598 Expense reimbursements to affiliates 62,406 75,192 94,381 117,175 Amortization of prepaid fees and expenses 278,556 414,521 1,563,964 1,335,809 General and administrative 99,253 121,061 200,063 228,980 Reduction of provision for impaired additional loan (Note 2) - - (500,000) - -------------- --------------- -------------- -------------- Total expenses 669,928 960,440 1,851,708 2,394,562 -------------- --------------- -------------- -------------- Net income 1,530,728 2,516,304 7,475,214 7,442,319 Other comprehensive income: Net change in unrealized gain (loss) on MBS 105,937 (7,500) 107,366 49,184 -------------- --------------- -------------- -------------- Total comprehensive income $ 1,636,665 $ 2,508,804 $ 7,582,580 $ 7,491,503 ============== ================ ============== ============== Basic earnings per share $ .09 $ .14 $ .41 $ .41 ============== =============== ============== ============== Weighted average Shares outstanding 18,371,477 18,371,477 ========== ========== The accompanying notes are an integral part of the financial statements. KRUPP GOVERNMENT INCOME TRUST II STATEMENTS OF CASH FLOWS For the Six Months Ended June 30, ---------------------------------- 2002 2001 ------------- ------------- Operating activities: Net income $ 7,475,214 $ 7,442,319 Adjustments to reconcile net income to net cash provided by operating activities: Amortization of net premium 46,708 28,223 Amortization of prepaid fees and expenses 1,563,964 1,335,809 Reduction of provision for impaired additional loan (500,000) - Changes in assets and liabilities: Decrease in interest receivable and other assets 135,340 64,432 Decrease in deferred income on Additional Loans (1,242,282) (572,377) Increase (decrease) in other liabilities 74,402 (101,995) ------------- ------------- Net cash provided by operating activities 7,553,346 8,196,411 ------------- ------------- Investing activities: Principal collections on MBS 2,563,062 1,385,347 Principal collections on Additional Loans 4,500,500 650,000 Principal collections on PIMs and Insured Mortgages 26,602,524 13,235,507 ------------- ------------- Net cash provided by investing activities 33,666,086 15,270,854 ------------- ------------- Financing activity: Dividends (42,805,542) (24,066,636) ------------- ------------- Net decrease in cash and cash equivalents (1,586,110) (599,371) Cash and cash equivalents, beginning of period 6,453,663 7,089,453 ------------- ------------- Cash and cash equivalents, end of period $ 4,867,553 $ 6,490,082 ============= ============= Non Cash Activities: Increase in Fair Value of MBS $ 107,366 $ 49,184 ============= ============= The accompanying notes are an integral part of the financial statements. KRUPP GOVERNMENT INCOME TRUST II NOTES TO FINANCIAL STATEMENTS 1. Accounting Policies Certain information and footnote disclosures normally included in financial statements prepared in accordance with accounting principles generally accepted in the United States of America have been condensed or omitted in this report on Form 10-Q pursuant to the Rules and Regulations of the Securities and Exchange Commission. However, in the opinion of Berkshire Mortgage Advisors Limited Partnership (the "Advisor"), which is the advisor to Krupp Government Income Trust II (the "Trust"), the disclosures contained in this report are adequate to make the information presented not misleading. See Notes to Financial Statements in the Trust's Form 10-K for the year ended December 31, 2001 for additional information relevant to significant accounting policies followed by the Trust. In the opinion of the Advisor of the Trust, the accompanying unaudited financial statements reflect all adjustments (consisting primarily of normal recurring accruals) necessary to present fairly the Trust's financial position as of June 30, 2002 and the results of its operations for the three and six months ended June 30, 2002 and 2001 and its cash flows for the six months ended June 30, 2002 and 2001. The results of operations for the three and six months ended June 30, 2002 are not necessarily indicative of the results which may be expected for the full year. See Management's Discussion and Analysis of Financial Condition and Results of Operations included in this report. 2. PIMs and PIMIs At June 30, 2002, the Trust's PIMs and PIMIs, including Additional Loans, had a fair value of $112,673,155 and gross unrealized gains of $2,756,437. The PIMs and PIMIs had maturities ranging from 2008 to 2036. At June 30, 2002 there are no insured mortgage loans within the Trust's portfolio that were delinquent of principal or interest. On March 28, 2002, the Trust received a prepayment of the Windmill Lakes Subordinated Promissory Note and the Windmill Lakes Additional Loan. The Trust received $2,000,000 of Additional Loan principal and $162,500 of Additional Loan interest. The Trust recognized $562,500 of the Additional Loan principal as Additional Loan interest. Due to the payoff, the remaining impairment provision of $500,000 was reversed. On April 25, 2002, the Trust received $10,727,382 representing the principal proceeds on the first mortgage note from Windmill Lakes. The Trust paid a special dividend of $.71 per share from the proceeds of the Windmill Lakes prepayment on May 1, 2002. On February 13, 2002, the Trust received a prepayment of the Norumbega Pointe Subordinated Promissory Note and the Norumbega Pointe Additional Loan. The Trust received $3,063,000 of Additional Loan principal, $302,877 of Shared Appreciation Interest and $2,280,362 of Preferred Interest. On February 25, 2002, the Trust received $15,123,167 representing the principal proceeds on the first mortgage note. In addition, the Trust recognized $1,242,282 of Additional Loan interest that had been previously received and recorded as deferred income on the additional loan. The Trust paid a special dividend of $1.14 per share from the proceeds of the Norumbega Pointe prepayment on March 12, 2002. 3. MBS At June 30, 2002, the Trust's MBS portfolio had an amortized cost of approximately $12,709,940 and gross unrealized gains of approximately $388,485. The MBS portfolio had maturities ranging from 2008 to 2031. Continued KRUPP GOVERNMENT INCOME TRUST II NOTES TO FINANCIAL STATEMENTS, Continued 4. Changes in Shareholders' Equity A summary of changes in Shareholders' equity for the six months ended June 30, 2002 is as follows: Accumulated Total Common Retained Comprehensive Shareholders' Stock Earnings Income Equity -------------------------------------------------------------------------- Balance at December 31, 2001 $ 166,214,677 $ - $ 281,119 $ 166,495,796 Net income - 7,475,214 - 7,475,214 Dividends (35,330,328) (7,475,214) - (42,805,542) Change in unrealized gain on MBS - - 107,366 107,366 -------------- ------------- ----------- ---------------- Balance at June 30, 2002 $ 130,884,349 $ - $ 388,485 $ 131,272,834 ============== ============= =========== ================ 5. Related Party Transactions The Trust received $221,641 of Additional Loan interest during the six months ended June 30, 2001 from an affiliate of the Advisor. The Trust also received participation interest of $129,872 from an affiliate of the Advisor during the six months ended June 30, 2001. Item 2. MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS - ------ Certain statements in this Management's Discussion and Analysis of Financial Condition and Results of Operations and elsewhere in this report on Form 10-Q constitute "forward-looking statements" within the meaning of the Federal Private Securities Litigation Reform Act of 1995. These forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the Trust's actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by these forward-looking statements. These factors include, among other things, federal, state or local regulations; adverse changes in general economic or local conditions; the inability of the borrower to meet financial obligations on additional loans; pre-payments of mortgages; failure of borrowers to pay participation interests due to poor operating results at properties underlying the mortgages; uninsured losses and potential conflicts of interest between the Trust and its Affiliates, including the Advisor. Liquidity and Capital Resources At June 30, 2002, the Trust had liquidity consisting of cash and cash equivalents of approximately $4.9 million, as well as the cash inflows provided by PIMs, PIMIs, MBS and cash and cash equivalents. The Trust may also receive additional cash flow from the participation features of its PIMs and PIMIs. The Trust anticipates that these sources will be adequate to provide the Trust with sufficient liquidity to meet its obligations, including providing dividends to its investors. The most significant demands on the Trust's liquidity are quarterly dividends paid to investors of approximately $2.6 million and special dividends. Funds for dividends come from interest income received on PIMs, PIMIs, MBS and cash and cash equivalents net of operating expenses, and the principal collections received on PIMs, PIMIs and MBS. The portion of dividends funded from principal collections reduces the capital resources of the Trust. As the capital resources of the Trust decrease, the total cash flows to the Trust will also decrease which may result in periodic adjustments to the dividends paid to the investors. The Advisor periodically reviews the dividend rate to determine whether an adjustment is necessary based on projected future cash flows. The Trustees, based on the Advisor's recommendations, generally set a dividend rate that provides for level quarterly distributions. To the extent quarterly dividends do not fully utilize the cash available for distribution and cash balances increase, the Trustees may adjust the dividend rate or distribute such funds through a special dividend. On May 16, 2002, the Trustees declared a quarterly dividend rate of $.14 per Share, reduced from $.24 per Share, effective with the dividend payable on August 14, 2002. In addition to providing guaranteed or insured monthly principal and interest payments, the Trust's investments in the PIMs and PIMIs also may provide additional income through the interest on the Additional Loan portion of the PIMIs as well as participation interest based on operating cash flow and increase in the value realized upon the sale or refinance of the underlying properties. However, these payments are neither guaranteed nor insured and depend on the successful operations of the underlying properties. The Trust received the first installment of Additional Loan interest due in 2002 from all five of the PIMI investments during the six months ended June 30, 2002. During the first quarter of 2002, the Trust received $90,334 of participation interest from the operations of Mequon Trails. In addition, the Trust received and recognized participation interest related to the Norumbega Pointe payoff (see below). On March 28, 2002, the Trust received a prepayment of the Windmill Lakes Subordinated Promissory Note and the Windmill Lakes Additional Loan. The Trust received $2,000,000 of Additional Loan principal and $162,500 of Additional Loan interest. The Trust recognized $562,500 of the Additional Loan principal as Additional Loan interest. Due to the payoff, the remaining impairment provision of $500,000 was reversed. On April 25, 2002, the Trust received $10,727,382 representing the principal proceeds on the first mortgage note from Windmill Lakes. The Trust paid a special dividend of $.71 per share from the proceeds of the Windmill Lakes prepayment on May 1, 2002. On February 13, 2002, the Trust received a prepayment of the Norumbega Pointe Subordinated Promissory Note and the Norumbega Pointe Additional Loan. The Trust received $3,063,000 of Additional Loan principal, $302,877 of Shared Appreciation Interest and $2,280,362 of Preferred Interest. On February 25, 2002, the Trust received $15,123,167 representing the principal proceeds on the first mortgage note. In addition, the Trust recognized $1,242,282 of Additional Loan interest that had been previously received and recorded as deferred income on the additional loan. The Trust paid a special dividend of $1.14 per share from the proceeds of the Norumbega Pointe prepayment on March 12, 2002. There are contractual restrictions on the prepayment of the PIMs and PIMIs. During the first five years of the investment, borrowers are generally prohibited from repayment. During the second five years, the PIM borrowers can prepay the insured mortgage by paying the greater of a prepayment premium or the participation interest due at the time of the prepayment. Similarly, the PIMI borrowers can prepay the insured mortgage and the Additional Loan by satisfying the Preferred Return obligation. The participation features and the Additional Loans are neither insured nor guaranteed. If the prepayment of the PIM or PIMI results from the foreclosure on the underlying property or an insurance claim, the Trust generally would not receive any participation interest or any amounts due under the Additional Loan. The Trust has the option to call certain PIMs and all the PIMIs by accelerating their maturity if the loans are not prepaid by the tenth year after permanent funding. The Advisor will determine the merits of exercising the call option for each PIM and PIMI as economic conditions warrant. Such factors as the condition of the asset, local market conditions, the interest rate environment and available financing will have an impact on these decisions. Critical Accounting Policies The Trust's critical accounting policies relate primarily to revenue recognition related to the participation features of the Trust's PIM and PIMI investments as well as the recognition of deferred interest income on the Additional Loans. The Trust's policies are as follows: Basic interest is recognized based on the stated rate of the Department of Housing and Urban Development ("HUD") Insured Mortgage loan (less the servicer's fee) or the coupon rate of the Fannie Mae MBS. The Trust recognizes interest related to the participation features when the amount becomes fixed and the transaction that gives rise to such amount is consummated. The Trust defers the recognition of Additional Loan interest payments as income to the extent these interest payments are from escrows established with the proceeds of the Additional Loan. When the properties underlying the PIMIs generate sufficient cash flow to make the required Additional Loan interest payments and the Additional Loan value is deemed collectible, the Trust recognizes income as earned and commences amortizing deferred interest amounts into income over the remaining estimated term of the Additional Loan. During periods where mortgage loans are impaired the Trust suspends amortizing deferred interest. The Trust also fully reserves the portion of any Additional Loan interest payment satisfied through the issuance of an operating loan and any associated interest due on such operating loan. The Trust will recognize the income related to the operating loan when the borrower repays amounts due under the operating loan. Results of Operations The Trust's net income decreased in the three months ended June 30, 2002 as compared to June 30, 2001 primarily due to decreases in basic interest on PIMs and PIMIs and Additional Loan interest. This was partially offset by decreases in amortization expense and asset management fees. Basic interest on PIMs and PIMIs decreased due to the Norumbega Pointe and Windmill Lakes payoffs and the payoff of the Seasons PIMI in July 2001. These prepayments also caused Additional Loan interest to decrease. Amortization expense was greater during the three months ended June 30, 2001 as compared to June 30, 2002 as a result of the full amortization of the remaining prepaid fees and expenses on the PIMI prepayments in 2001. Asset management fees decreased due to the decrease in the Trust's investments as a result of principal collections and payoffs. The Trust's net income increased during the six months ended June 30, 2002 as compared to June 30, 2001 primarily due to an increase in Additional Loan interest and decreases in asset management fees and the provision for impaired mortgage loan. This was partially offset by an increase in amortization expense and a decrease in basic interest from PIMs and PIMIs. Additional Loan interest increased primarily due to the recognition of deferred income from the Norumbega Pointe payoff and base interest recognized from the Windmill Lakes payoff. The decrease in asset management fees is a result of the Trust's asset base declining from PIM and PIMI prepayments in 2001 and the six months ended June 30, 2002. These prepayments also caused basic interest on PIMs and PIMIs to decrease. Amortization expense increased primarily due to the full amortization of the remaining prepaid fees and expenses related to the Norumbega Pointe and Windmill Lakes payoffs. The provision for impaired mortgage decreased due to the reversal of the impairment provision for the Windmill Lakes PIMI as a result of the Additional Loan payoff received on March 28, 2002. Item 3. QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK - ------- Assessment of Credit Risk The Trust's investments in insured mortgages and MBS are guaranteed or insured by Fannie Mae, the Federal Home Loan Mortgage Corporation ("FHLMC"), the Government National Mortgage Association ("GNMA") or the Department of Housing and Urban Development ("HUD"), and therefore, the certainty of their cash flows and the risk of a material loss of the amounts invested depends upon the creditworthiness of these entities. Fannie Mae is a federally chartered private corporation that guarantees obligations originated under its programs. However, obligations of Fannie Mae are not backed by the U.S. Government. Fannie Mae is one of the largest corporations in the United States and the Secretary of the Treasury of the United States has discretionary authority to lend up to $2.25 billion to Fannie Mae at any time. FHLMC is a federally chartered corporation that guarantees obligations originated under its programs and is wholly-owned by the twelve Federal Home Loan Banks. These obligations are not guaranteed by the U.S. Government or the Federal Home Loan Bank Board. GNMA guarantees the full and timely payment of principal and basic interest on the securities it issues, which represent interests in pooled mortgages insured by HUD. Obligations insured by HUD, an agency of the U.S. Government, are backed by the full faith and credit of the U.S. Government. The Trust's Additional Loans have similar risks as those associated with higher risk debt instruments, including: reliance on the owner's operating skills, ability to maintain occupancy levels, control operating expenses, ability to maintain the properties and obtain adequate insurance coverage. Operations also may be affected by adverse changes in general economic conditions, local conditions and changes in governmental regulations, real estate zoning laws, or tax laws; and other circumstances over which the Trust may have little or no control. The Trust includes in cash and cash equivalents approximately $4.6 million of Agency paper, which is issued by Government Sponsored Enterprises with a credit rating equal to the top rating category of a nationally recognized statistical rating organization. Interest Rate Risk The Trust's primary market risk exposure is to interest rate risk, which can be defined as the exposure of the Trust's net income, comprehensive income or financial condition to adverse movements in interest rates. At June 30, 2002, the Trust's PIMs, PIMIs and MBS comprise the majority of the Trust's assets. Decreases in interest rates may accelerate the prepayment of the Trust's investments. The Trust does not utilize any derivatives or other instruments to manage this risk as the Trust plans to hold all of its investments to expected maturity. The Trust monitors prepayments and considers prepayment trends, as well as dividend requirements of the Trust, when setting regular dividend policy. For MBS, the fund forecasts prepayments based on trends in similar securities as reported by statistical reporting entities such as Bloomberg. For PIMs and PIMIs, the Trust incorporates prepayment assumptions into planning as individual properties notify the Trust of the intent to prepay or as they mature. KRUPP GOVERNMENT INCOME TRUST II PART II - OTHER INFORMATION Item 1. Legal Proceedings None Item 2. Changes in Securities None Item 3. Defaults upon Senior Securities None Item 4. Submission of Matters to a Vote of Security Holders None Item 5. Other Information None Item 6. Exhibits and Reports on Form 8-K (a) Exhibits (99.1) Chairman of the Board Certification pursuant to 18 U.S.C. Section 1350, as adopted pursuant to Section 906 of the Sarbanes-Oxley Act of 2002. (99.2) Chief Accounting Officer Certification pursuant to 18 U.S.C. Section 1350, as adopted pursuant to Section 906 of the Sarbanes-Oxley Act of 2002. (b) Reports on Form 8-K Financial Statements Date of Report Event Reported Included -------------- -------------------- ------------------- May 16, 2002 Reduction in the None quarterly dividend rate SIGNATURE Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized. Krupp Government Income Trust II -------------------------------- (Registrant) BY: / s / Robert A. Barrows -------------------------------------------------------- Robert A. Barrows Treasurer and Chief Accounting Officer of Krupp Government Income Trust II. DATE: August 13, 2002 CERTIFICATION PURSUANT TO 18 U.S.C. SECTION 1350, AS ADOPTED PURSUANT TO SECTION 906 OF THE SARBANES-OXLEY ACT OF 2002 In connection with the Quarterly Report of Krupp Government Income Trust II (the "Trust") on Form 10-Q for the period ending June 30, 2002 as filed with the Securities and Exchange Commission on the date hereof (the "Report"), I, Douglas Krupp, Chairman of the Board of the Trust, certify, pursuant to U.S.C. ss. 1350, as adopted pursuant to ss. 906 of the Sarbanes-Oxley Act of 2002, that: (1) The Report fully complies with the requirements of section 13(a) or 15(d) of the Securities Exchange Act of 1934; and (2) The information contained in the Report fairly presents, in all material respects, the financial condition and results of operations of the Trust as of June 30, 2002 (the last date of the period covered by the Report). / s / Douglas Krupp - ---------------------------------- Douglas Krupp, Chairman of the Board CERTIFICATION PURSUANT TO 18 U.S.C. SECTION 1350, AS ADOPTED PURSUANT TO SECTION 906 OF THE SARBANES-OXLEY ACT OF 2002 In connection with the Quarterly Report of Krupp Government Income Trust II (the "Trust") on Form 10-Q for the period ending June 30, 2002 as filed with the Securities and Exchange Commission on the date hereof (the "Report"), I, Robert A. Barrows, Chief Accounting Officer of the Trust, certify, pursuant to U.S.C. ss. 1350, as adopted pursuant to ss. 906 of the Sarbanes-Oxley Act of 2002, that: (1) The Report fully complies with the requirements of section 13(a) or 15(d) of the Securities Exchange Act of 1934; and (2) The information contained in the Report fairly presents, in all material respects, the financial condition and results of operations of the Trust as of June 30, 2002 (the last date of the period covered by the Report). / s / Robert A. Barrows - ----------------------------- Robert A. Barrows, Chief Accounting Officer
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10-Q Filing
Krupp Government Income Trust-ii (XXVR) Inactive 10-Q2002 Q2 Quarterly report
Filed: 14 Aug 02, 12:00am