Financial Statements

of
COBBLESTONE CONDOMINIUM ASSOCIATION
For the Periods Ended January 31, 2006 and 2005

COBBLESTONE CONDOMINIUM ASSOCIATION
Balance Sheet
January 31, 2006 and 2005

Assets

			As of				As of		
			Jan. 31, 2006				Jan. 31, 2005		

	Current Assets
	CASH IN BANK-CHECKING	$		(1,718.06)	$		814.10	
	CASH IN BANK-SAVINGS			14,312.26			9,849.42	
	ACCOUNTS RECEIVABLE-DUES			0.00			(30.00)	

	Total Current Assets	$		12,594.20	$		10,633.52	

	Total Assets	$		12,594.20	$		10,633.52	

COBBLESTONE CONDOMINIUM ASSOCIATION
Balance Sheet
January 31, 2006 and 2005

Liabilities and Equity

			As of				As of		
			Jan. 31, 2006				Jan. 31, 2005		

	Current Liabilities
	DEPOSITS PAYABLE	$		660.00	$		660.00	
	RESERVE			14,066.69			10,293.00	

	Total Current Liabilities	$		14,726.69	$		10,953.00	

	Equity
	RETAINED EARNINGS			(1,356.14)			278.17	
	Current Income (Loss)			(776.35)			(597.65)	

	Total Equity			(2,132.49)			(319.48)	

	Total Liabilities & Equity	$		12,594.20	$		10,633.52	

COBBLESTONE CONDOMINIUM ASSOCIATION
Income Statement
For the Periods Ended January 31, 2006 and 2005

			1 Month Ended								1 Month Ended								1 Month Ended								1 Month Ended						
			Jan. 31, 2006				Pct				Jan. 31, 2005				Pct				Jan. 31, 2006				Pct				Jan. 31, 2005				Pct		

	Revenue
	INCOME-DUES	$		1,540.00			81.81	$		1,540.00			81.99	$		1,540.00			81.81	$		1,540.00			81.99	
	INCOME-RESERVE			330.00			17.53			330.00			17.57			330.00			17.53			330.00			17.57	
	INCOME-INTEREST			12.52			0.67			8.37			0.45			12.52			0.67			8.37			0.45	

	Total Revenue			1,882.52			100.00			1,878.37			100.00			1,882.52			100.00			1,878.37			100.00	

	Operating Expenses
	BOOKKEEPING			100.00			5.31			100.00			5.32			100.00			5.31			100.00			5.32	
	CABLE TV			322.03			17.11			303.73			16.17			322.03			17.11			303.73			16.17	
	OFFICE EXPENSES			24.00			1.27			0.00			0.00			24.00			1.27			0.00			0.00	
	RESERVE ACCOUNT			360.00			19.12			360.00			19.17			360.00			19.12			360.00			19.17	
	SNOWPLOWING			342.50			18.19			245.00			13.04			342.50			18.19			245.00			13.04	
	TRASH REMOVAL			148.00			7.86			130.00			6.92			148.00			7.86			130.00			6.92	
	WATER & SEWER			1,260.00			66.93			1,260.00			67.08			1,260.00			66.93			1,260.00			67.08	
	UTILITIES			102.34			5.44			77.29			4.11			102.34			5.44			77.29			4.11	

	Total Expenses			2,658.87			141.24			2,476.02			131.82			2,658.87			141.24			2,476.02			131.82	

	Net Income (Loss)	$		(776.35)			(41.24)	$		(597.65)			(31.82)	$		(776.35)			(41.24)	$		(597.65)			(31.82)