DSI REALTY INCOME FUND VI
(A California Real Estate Limited Partnership)
BALANCE SHEETS(UNAUDITED), March 31, 2000 AND DECEMBER 31, 1999
March 31, December 31,
2000 1999
ASSETS
CASH AND CASH EQUIVALENTS $ 734,027 $ 559,869
PROPERTY,NET 3,071,482 3,176,287
OTHER ASSETS 60,381 60,379
TOTAL $3,865,890 $3,796,535
LIABILITIES AND PARTNERS' EQUITY (DEFICIT)
LIABILITIES $380,767 $367,509
PARTNERS' EQUITY (DEFICIT):
General Partners (58,435) (58,996)
Limited Partners 3,543,558 3,488,022
Total partners' equity 3,485,123 3,429,026
TOTAL $3,865,890 $3,796,535
See accompanying notes to financial statements (unaudited).
STATEMENTS OF INCOME (UNAUDITED)
FOR THE THREE MONTHS ENDED March 31, 2000 AND 1999
March 31, March 31,
2000 1999
REVENUES:
Rental Income $753,692 $698,590
Interest 2,465 2,378
Total revenue 756,157 700,968
EXPENSES:
Operating 349,953 334,156
General and administrative 80,187 76,205
Total expenses 430,140 410,361
NET INCOME $326,017 $290,607
AGGREGATE NET INCOME ALLOCATED TO :
Limited partners $322,757 $287,701
General partners 3,260 2,906
TOTAL $326,017 $290,607
NET INCOME PER
LIMITED PARTNERSHIP UNIT $13.59 $12.11
LIMITED PARTNERSHIP
UNITS USED IN PER
UNIT CALCULATION 23,753 23,753
See accompanying notes to financial statements(unaudited).
STATEMENTS OF CHANGES IN PARTNERS' EQUITY (DEFICIT)(UNAUDITED)
FOR THE THREE MONTHS ENDED March 31, 2000 AND 1999
GENERAL LIMITED
PARTNERS PARTNERS TOTAL
BALANCE AT JANUARY 1, 1999 ($55,794) $3,805,019 $3,749,225
NET INCOME 2,906 287,701 290,607
DISTRIBUTIONS (2,699) (267,221) (269,920)
BALANCE AT MARCH 31, 1999 ($55,587) $3,825,499 $3,769,912
BALANCE AT JANUARY 1, 2000 ($58,996) $3,488,022 $3,429,026
NET INCOME 3,260 322,757 326,017
DISTRIBUTIONS (2,699) (267,221) (269,920)
BALANCE AT MARCH 31, 2000 ($58,435) $3,543,558 $3,485,123
See accompanying notes to financial statements(unaudited).
STATEMENTS OF CASH FLOWS (UNAUDITED)
FOR THE THREE MONTHS ENDED MARCH 31, 2000 AND 1999
March 31, March 31,
2000 1999
CASH FLOWS FROM OPERATING
ACTIVITIES:
Net income $ 326,017 $ 290,607
Adjustments to reconcile net
income to net cash provided
by operating activities:
Depreciation 104,805 104,805
Changes in assets and liabilities:
Increase in other assets (2) 0
Increase in liabilities 13,258 10,501
Net cash provided by operating
activities 444,078 405,913
CASH FLOWS FROM INVESTING ACTIVITIES-
Additions to property 0 (19,303)
CASH FLOWS FROM FINANCING ACTIVITIES-
Distributions to partners (269,920) (269,920)
NET INCREASE IN CASH AND
CASH EQUIVALENTS 174,158 116,690
CASH AND CASH EQUIVALENTS:
At beginning of period 559,869 546,110
At end of period $ 734,027 $ 662,800
See accompanying notes to financial statements (unaudited).
DSI REALTY INCOME FUND VI
(A California Real Estate Limited Partnership)
NOTES TO FINANCIAL STATEMENTS (UNAUDITED)
1. GENERAL
DSI Realty Income Fund VI (the "Partnership"), a limited partnership, has two
general partners (DSI Properties, Inc., and Diversified Investors Agency)
and limited partners owning 23,753 limited partnership units. The Partnership
was formed under the California Uniform Limited Partnership Act for the
primary purpose of acquiring and operating real estate.
The accompanying financial information as of March 31, 2000, and for
the periods ended March 31, 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
Properties owned by the Partnership are all mini-storage facilities.
Depreciation is calculated using the straight line method over the estimated
useful life of 20 years. The total cost of property and accumulated
depreciation at March 31, 2000, is as follows:
Land $ 1,759,000
Buildings 8,429,963
Furniture and Equipment 35,185
Total 10,287,266
Less: Accumulated Depreciation ( 7,215,784)
Property - Net $ 3,071,482
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.