Financial Statements

of
COBBLESTONE CONDOMINIUM ASSOCIATION
For the Period Ended November 30, 2004

COBBLESTONE CONDOMINIUM ASSOCIATION
Balance Sheet
November 30, 2004

Assets

			As of				As of										
			Nov. 30, 2004				Nov. 30, 2003				Change				Pct		

	Current Assets
	CASH IN BANK-CHECKING	$		908.26	$		505.03	$		403.23			80	
	CASH IN BANK-SAVINGS			9,111.81			5,402.15			3,709.66			69	
	ACCOUNTS RECEIVABLE-DUES			(149.00)			0.00			(149.00)			0	

	Total Current Assets	$		9,871.07	$		5,907.18	$		3,963.89			67	

	Total Assets	$		9,871.07	$		5,907.18	$		3,963.89			67	

COBBLESTONE CONDOMINIUM ASSOCIATION
Balance Sheet
November 30, 2004

Liabilities and Equity

			As of				As of										
			Nov. 30, 2004				Nov. 30, 2003				Change				Pct		

	Current Liabilities
	DEPOSITS PAYABLE	$		660.00	$		660.00	$		0.00			0	
	RESERVE			9,573.00			5,253.00			4,320.00			82	

	Total Current Liabilities	$		10,233.00	$		5,913.00	$		4,320.00			73	

	Equity
	RETAINED EARNINGS			308.13			2,030.32			(1,722.19)			(85)	
	Current Income (Loss)			(670.06)			(2,036.14)			1,366.08			(67)	

	Total Equity			(361.93)			(5.82)			(356.11)			999	

	Total Liabilities & Equi	$		9,871.07	$		5,907.18	$		3,963.89			67	

COBBLESTONE CONDOMINIUM ASSOCIATION
Income Statement
For the Period Ended November 30, 2004

			1 Month Ended				Prior Year												11 Months Ended				Prior Year										
			Nov. 30, 2004				Period				Variance				Pct				Nov. 30, 2004				Period				Variance				Pct		

	Revenue
	INCOME-DUES	$		1,540.00	$		1,430.00	$		110.00			8	$		16,830.00	$		15,730.00	$		1,100.00			7	
	INCOME-RESERVE			330.00			330.00			0.00			0			3,630.00			3,630.00			0.00			0	
	INCOME-WORK DA			0.00			0.00			0.00			0			0.00			160.00			(160.00)			(100)	
	INCOME-LATE FEES			51.00			0.00			51.00			0			51.00			32.00			19.00			59	
	INCOME-INTEREST			0.00			4.60			(4.60)		(100	)			69.70			60.36			9.34			15	

	Total Revenue			1,921.00			1,764.60			156.40			9			20,580.70			19,612.36			968.34			5	

	Operating Expenses
	BOOKKEEPING			100.00			100.00			0.00			0			1,100.00			1,100.00			0.00			0	
	CABLE TV			303.73			286.59			17.14			6			3,306.71			3,120.63			186.08			6	
	INSURANCE			0.00			0.00			0.00			0			4,062.00			3,612.00			450.00			12	
	LICENSES			0.00			0.00			0.00			0			45.00			45.00			0.00			0	
	OFFICE EXPENSES			0.00			7.00			(7.00)		(100	)			44.00			7.00			37.00			529	
	REPAIRS & MAINTE			0.00			(241.27)			241.27		(100	)			1,257.33			1,282.71			(25.38)			(2)	
	RESERVE ACCOUNT			360.00			360.00			0.00			0			3,960.00			3,960.00			0.00			0	
	SNOWPLOWING			0.00			0.00			0.00			0			660.00			1,100.00			(440.00)			(40)	
	TRASH REMOVAL			130.00			160.60			(30.60)			(19)			1,430.00			1,766.60			(336.60)			(19)	
	WATER & SEWER			0.00			0.00			0.00			0			4,735.00			5,052.50			(317.50)			(6)	
	UTILITIES			25.84			47.61			(21.77)			(46)			650.72			602.06			48.66			8	

	Total Expenses			919.57			720.53			199.04			28			21,250.76			21,648.50			(397.74)			(2)	

	Net Income (L	$		1,001.43	$		1,044.07	$		(42.64)			(4)	$		(670.06)	$		(2,036.14)	$		1,366.08			(67)