Financial Statements

of
COBBLESTONE CONDOMINIUM ASSOCIATION
For the Periods Ended November 30, 2007 and 2006

COBBLESTONE CONDOMINIUM ASSOCIATION
Balance Sheet
November 30, 2007 and 2006

Assets

			As of				As of		
			Nov. 30, 2007				Nov. 30, 2006		

	Current Assets
	CASH IN BANK-CHECKING	$		4,131.15	$		2,013.60	
	CASH IN BANK-SAVINGS			12,722.35			9,291.27	
	ACCOUNTS RECEIVABLE-DUES			(248.00)			(450.00)	

	Total Current Assets	$		16,605.50	$		10,854.87	

	Total Assets	$		16,605.50	$		10,854.87	

COBBLESTONE CONDOMINIUM ASSOCIATION
Balance Sheet
November 30, 2007 and 2006

Liabilities and Equity

			As of				As of		
			Nov. 30, 2007				Nov. 30, 2006		

	Current Liabilities
	DEPOSITS PAYABLE	$		660.00	$		660.00	
	RESERVE			12,253.69			8,933.69	

	Total Current Liabilities	$		12,913.69	$		9,593.69	

	Equity
	RETAINED EARNINGS			2,141.82			(1,356.14)	
	Current Income (Loss)			1,549.99			2,617.32	

	Total Equity			3,691.81			1,261.18	

	Total Liabilities & Equity	$		16,605.50	$		10,854.87	

COBBLESTONE CONDOMINIUM ASSOCIATION
Income Statement
For the Periods Ended November 30, 2007 and 2006

			1 Month Ended								1 Month Ended								11 Months Ended								11 Months Ended						
			Nov. 30, 2007				Pct				Nov. 30, 2006				Pct				Nov. 30, 2007				Pct				Nov. 30, 2006				Pct		

	Revenue
	INCOME-DUES	$		1,980.00			85.31	$		1,980.00			85.44	$		21,780.00			83.65	$		21,326.33			77.46	
	INCOME-RESERVE			330.00			14.22			330.00			14.24			3,630.00			13.94			3,630.00			13.19	
	INCOME-WORK DAY			0.00			0.00			0.00			0.00			420.00			1.61			0.00			0.00	
	INCOME-LATE FEES			0.00			0.00			0.00			0.00			105.00			0.40			0.00			0.00	
	INCOME-TRANSFERS			0.00			0.00			0.00			0.00			0.00			0.00			50.00			0.18	
	INCOME-INTEREST			10.98			0.47			7.48			0.32			102.76			0.39			124.53			0.45	
	SPECIAL ASSESSMENT			0.00			0.00			0.00			0.00			0.00			0.00			2,400.00			8.72	

	Total Revenue			2,320.98			100.00			2,317.48			100.00			26,037.76			100.00			27,530.86			100.00	

	Operating Expenses
	BOOKKEEPING			100.00			4.31			100.00			4.32			1,100.00			4.22			1,100.00			4.00	
	CABLE TV			357.76			15.41			342.80			14.79			3,903.55			14.99			3,729.26			13.55	
	INSURANCE			93.00			4.01			0.00			0.00			4,935.00			18.95			4,760.00			17.29	
	LICENSES			0.00			0.00			0.00			0.00			10.00			0.04			0.00			0.00	
	OFFICE EXPENSES			0.00			0.00			0.00			0.00			66.53			0.26			63.00			0.23	
	REPAIRS & MAINTENANCE			0.00			0.00			0.00			0.00			376.40			1.45			1,437.21			5.22	
	RESERVE ACCOUNT			360.00			15.51			360.00			15.53			3,960.00			15.21			3,960.00			14.38	
	SNOWPLOWING			395.00			17.02			432.50			18.66			1,895.00			7.28			1,912.50			6.95	
	TRANSFER FEE			0.00			0.00			0.00			0.00			0.00			0.00			50.00			0.18	
	TRASH REMOVAL			111.51			4.80			106.20			4.58			1,700.09			6.53			1,350.23			4.90	
	WATER & SEWER			0.00			0.00			0.00			0.00			4,722.84			18.14			5,097.50			18.52	
	WORK DAY EXPENSES			0.00			0.00			0.00			0.00			1,050.52			4.03			806.83			2.93	
	UTILITIES			43.46			1.87			47.82			2.06			767.84			2.95			647.01			2.35	

	Total Expenses			1,460.73			62.94			1,389.32			59.95			24,487.77			94.05			24,913.54			90.49	

	Net Income (Loss)	$		860.25			37.06	$		928.16			40.05	$		1,549.99			5.95	$		2,617.32			9.51