DSI REALTY INCOME FUND VI
(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 $ 852,470 $ 559,869
PROPERTY, Net 2,991,909 3,176,287
OTHER ASSETS 60,381 60,379
TOTAL $3,904,760 $3,796,535
LIABILITIES AND PARTNERS' EQUITY (DEFICIT)
LIABILITIES $373,817 $367,509
PARTNERS' EQUITY (DEFICIT):
General Partners (57,976) (58,996)
Limited Partners 3,588,919 3,488,022
Total partners' equity 3,530,943 3,429,026
TOTAL $3,904,760 $3,796,535
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 $756,917 $706,590
Interest 2,913 2,357
Total revenue 759,830 708,947
EXPENSES:
Operating Expenses 352,596 364,202
General and Administrative 91,493 75,685
Total expenses 444,089 439,887
NET INCOME $315,741 $269,060
AGGREGATE NET INCOME ALLOCATED TO :
Limited Partners $312,584 $266,369
General Partners 3,157 2,691
TOTAL $315,741 $269,060
NET INCOME PER
LIMITED PARTNERSHIP UNIT $ 13.16 $ 11.21
LIMITED PARTNERSHIP
UNITS USED IN PER
UNIT CALCULATION 23,753 23,753
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 $1,510,609 $1,405,180
Interest 5,378 4,735
Total revenues 1,515,987 1,409,915
EXPENSES:
Operating 702,549 698,358
General and administrative 171,680 151,890
Total expenses 874,229 850,248
NET INCOME $641,758 $559,667
AGGREGATE NET INCOME
ALLOCATED TO:
Limited Partners $635,340 $554,070
General Partners 6,418 5,597
TOTAL $641,758 $559,667
NET INCOME PER LIMITED
PARTNERSHIP UNIT $26.75 $23.33
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 (UNAUDITED)
FOR THE SIX MONTHS ENDED JUNE 30, 2000 AND 1999
GENERAL LIMITED
PARTNERS PARTNERS TOTAL
BALANCE AT JANUARY 1, 1999 ($55,794) $3,805,019 $3,749,225
NET INCOME 5,597 554,070 559,667
DISTRIBUTIONS (5,398) (534,443) (539,841)
BALANCE AT JUNE 30, 1999 ($55,595) $3,824,646 $3,769,051
BALANCE AT JANUARY 1, 2000 ($58,996) $3,488,022 $3,429,026
NET INCOME 6,418 635,340 641,758
DISTRIBUTIONS (5,398) (534,443) (539,841)
BALANCE AT JUNE 30, 2000 ($57,976) $3,588,919 $3,530,943
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 $ 641,758 $ 559,667
Adjustments to reconcile net
income to net cash provided
by operating activities:
Depreciation 209,610 209,610
Changes in assets and liabilities:
Increase in other assets (2) (558)
Increase(decrease) in liabilities 6,308 (53,743)
Net cash provided by operating
activities 857,674 714,976
CASH FLOWS FROM INVESTING ACTIVITIES -
Additions to property (25,232) (19,303)
CASH FLOWS FROM FINANCING ACTIVITIES -
Distributions to partners (539,841) (539,841)
NET INCREASE IN CASH AND
CASH EQUIVALENTS 292,601 155,832
CASH AND CASH EQUIVALENTS:
At beginning of period 559,869 546,110
At end of period $ 852,470 $ 701,942
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 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
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 June 30, 2000, is as follows:
Land $ 1,759,000
Buildings 8,518,313
Equipment 35,185
Total 10,312,498
Less: Accumulated Depreciation ( 7,320,589)
Property - Net $ 2,991,909
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.