DSI REALTY INCOME FUND X
(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 $2,193,843 $2,027,853
PROPERTY, NET 6,547,478 6,682,110
OTHER ASSETS 72,366 69,305
TOTAL $8,813,687 $8,779,268
LIABILITIES AND PARTNERS' EQUITY (DEFICIT)
LIABILITIES $2,730,794 $2,688,822
PARTNERS' EQUITY (DEFICIT):
General Partners (81,198) (81,123)
Limited Partners 6,164,091 6,171,569
Total partners' equity 6,082,893 6,090,446
TOTAL $8,813,687 $8,779,268
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 $732,552 $661,896
Interest 16,059 12,656
Total revenue 748,611 674,552
EXPENSES:
Operating Expenses 361,026 346,907
General and administrative 69,924 67,477
Total expenses 430,950 414,384
NET INCOME $317,661 $260,168
AGGREGATE NET INCOME ALLOCATED TO :
Limited partners $314,484 $257,566
General partners 3,177 2,602
TOTAL $317,661 $260,168
NET INCOME PER
LIMITED PARTNERSHIP UNIT $9.89 $8.10
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 (DEFICIT)(UNAUDITED)
FOR THE THREE MONTHS ENDED MARCH 31, 2000 AND 1999
GENERAL LIMITED
PARTNERS PARTNERS TOTAL
BALANCE AT JANUARY 1, 1999 ($75,264) $6,751,659 $6,676,395
NET INCOME 2,602 257,566 260,168
DISTRIBUTIONS (3,210) (317,830) (321,040)
BALANCE AT MARCH 31, 1999 ($75,872) $6,691,395 $6,615,523
BALANCE AT JANUARY 1, 2000 ($81,123) $6,171,569 $6,090,446
NET INCOME 3,177 314,484 317,661
DISTRIBUTIONS (3,252) (321,962) (325,214)
BALANCE AT MARCH 31, 2000 ($81,198) $6,164,091 $6,082,893
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 $ 317,661 $ 260,168
Adjustments to reconcile net
income to net cash provided
by operating activities:
Depreciation 134,632 134,630
Loss on disposal of
property and equipment 0 630
Changes in assets and liabilities:
Increase in other assets (3,061) (1,965)
Increase in liabilities 41,972 50,820
Net cash provided by operating
activities 491,204 444,283
CASH FLOWS FROM FINANCING ACTIVITIES -
Distributions to partners (325,214) (321,040)
NET INCREASE IN CASH AND
CASH EQUIVALENTS 165,990 123,243
CASH AND CASH EQUIVALENTS:
At beginning of period 2,027,853 1,772,250
At end of period $2,193,843 $1,895,493
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 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
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 March 31, 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 ( 6,382,688)
Property - Net $ 6,547,478
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.