Field measurements from the Boreal Ecosystem-Atmosphere Study (BOREAS) were combined to calculate the water balance of the White Gull Creek basin for the three year period 1994--1996. Evapotranspiration was mapped from the observations made at the BOREAS flux towers to the basin using a simple evaporation model with a bulk canopy resistance based on tower observations. Runoff ratios were low, and evapotranspiration accounted for most of the precipitation over the area. The accumulated storage change, over the 3 year period, was 47 mm or 3.4% of the total precipitation, but precipitation exceeded the sum of discharge and evapotranspiration by 80 mm or 15% of the precipitation in 1994. Five possible explanations for the discrepancy in the water balance are identified, with the most likely cause an underestimation of the evapotranspiration in 1994, especially during periods when the basin is wet.