Financial Statements

of
COBBLESTONE CONDOMINIUM ASSOCIATION
For the Periods Ended January 31, 2007 and 2006

COBBLESTONE CONDOMINIUM ASSOCIATION
Balance Sheet
January 31, 2007 and 2006

Assets

			As of				As of		
			Jan. 31, 2007				Jan. 31, 2006		

	Current Assets
	CASH IN BANK-CHECKING	$		2,223.49	$		(1,718.06)	
	CASH IN BANK-SAVINGS			10,027.73			14,312.26	
	ACCOUNTS RECEIVABLE-DUES			(130.00)			0.00	

	Total Current Assets	$		12,121.22	$		12,594.20	

	Total Assets	$		12,121.22	$		12,594.20	

COBBLESTONE CONDOMINIUM ASSOCIATION
Balance Sheet
January 31, 2007 and 2006

Liabilities and Equity

			As of				As of		
			Jan. 31, 2007				Jan. 31, 2006		

	Current Liabilities
	DEPOSITS PAYABLE	$		660.00	$		660.00	
	RESERVE			9,653.69			14,066.69	

	Total Current Liabilities	$		10,313.69	$		14,726.69	

	Equity
	RETAINED EARNINGS			2,141.82			(1,356.14)	
	Current Income (Loss)			(334.29)			(776.35)	

	Total Equity			1,807.53			(2,132.49)	

	Total Liabilities & Equity	$		12,121.22	$		12,594.20	

COBBLESTONE CONDOMINIUM ASSOCIATION
Income Statement
For the Periods Ended January 31, 2007 and 2006

			1 Month Ended								1 Month Ended								1 Month Ended								1 Month Ended						
			Jan. 31, 2007				Pct				Jan. 31, 2006				Pct				Jan. 31, 2007				Pct				Jan. 31, 2006				Pct		

	Revenue
	INCOME-DUES	$		1,980.00			85.41	$		1,540.00			81.81	$		1,980.00			85.41	$		1,540.00			81.81	
	INCOME-RESERVE			330.00			14.24			330.00			17.53			330.00			14.24			330.00			17.53	
	INCOME-INTEREST			8.14			0.35			12.52			0.67			8.14			0.35			12.52			0.67	

	Total Revenue			2,318.14			100.00			1,882.52			100.00			2,318.14			100.00			1,882.52			100.00	

	Operating Expenses
	BOOKKEEPING			100.00			4.31			100.00			5.31			100.00			4.31			100.00			5.31	
	CABLE TV			342.80			14.79			322.03			17.11			342.80			14.79			322.03			17.11	
	OFFICE EXPENSES			0.00			0.00			24.00			1.27			0.00			0.00			24.00			1.27	
	RESERVE ACCOUNT			360.00			15.53			360.00			19.12			360.00			15.53			360.00			19.12	
	SNOWPLOWING			375.00			16.18			342.50			18.19			375.00			16.18			342.50			18.19	
	TRASH REMOVAL			111.51			4.81			148.00			7.86			111.51			4.81			148.00			7.86	
	WATER & SEWER			1,260.00			54.35			1,260.00			66.93			1,260.00			54.35			1,260.00			66.93	
	UTILITIES			103.12			4.45			102.34			5.44			103.12			4.45			102.34			5.44	

	Total Expenses			2,652.43			114.42			2,658.87			141.24			2,652.43			114.42			2,658.87			141.24	

	Net Income (Loss)	$		(334.29)			(14.42)	$		(776.35)			(41.24)	$		(334.29)			(14.42)	$		(776.35)			(41.24)