Financial Statements

of
COBBLESTONE CONDOMINIUM ASSOCIATION
For the Periods Ended August 31, 2010 and 2009

COBBLESTONE CONDOMINIUM ASSOCIATION
Balance Sheet
August 31, 2010 and 2009

Assets

			As of				As of		
			Aug. 31, 2010				Aug. 31, 2009		

	Current Assets
	CASH IN BANK-CHECKING	$		9,599.31	$		9,316.10	
	CASH IN BANK-SAVINGS			10,156.57			20,469.02	
	90 DAY CD			10,000.00			0.00	
	ACCOUNTS RECEIVABLE-DUES			0.00			(130.00)	

	Total Current Assets	$		29,755.88	$		29,655.12	

	Total Assets	$		29,755.88	$		29,655.12	

COBBLESTONE CONDOMINIUM ASSOCIATION
Balance Sheet
August 31, 2010 and 2009

Liabilities and Equity

			As of				As of		
			Aug. 31, 2010				Aug. 31, 2009		

	Current Liabilities
	DEPOSITS PAYABLE	$		660.00	$		660.00	
	RESERVE			19,456.04			19,813.69	

	Total Current Liabilities	$		20,116.04	$		20,473.69	

	Equity
	RETAINED EARNINGS			7,406.47			5,446.33	
	Current Income (Loss)			2,233.37			3,735.10	

	Total Equity			9,639.84			9,181.43	

	Total Liabilities & Equity	$		29,755.88	$		29,655.12	

COBBLESTONE CONDOMINIUM ASSOCIATION
Income Statement
For the Periods Ended August 31, 2010 and 2009

			1 Month Ended								1 Month Ended								8 Months Ended								8 Months Ended						
			Aug. 31, 2010				Pct				Aug. 31, 2009				Pct				Aug. 31, 2010				Pct				Aug. 31, 2009				Pct		

	Revenue
	INCOME-DUES	$		2,160.00			85.64	$		2,160.00			78.69	$		17,280.00			82.84	$		16,200.00			82.08	
	INCOME-RESERVE			360.00			14.27			360.00			13.12			2,880.00			13.81			2,700.00			13.68	
	INCOME-WORK DAY			0.00			0.00			210.00			7.65			630.00			3.02			630.00			3.19	
	INCOME-LATE FEES			0.00			0.00			10.00			0.36			41.00			0.20			102.00			0.52	
	INCOME-TRANSFERS			0.00			0.00			0.00			0.00			0.00			0.00			50.00			0.25	
	INCOME-INTEREST			2.28			0.09			4.84			0.18			27.60			0.13			54.09			0.27	

	Total Revenue			2,522.28			100.00			2,744.84			100.00			20,858.60			100.00			19,736.09			100.00	

	Operating Expenses
	BOOKKEEPING			100.00			3.96			100.00			3.64			800.00			3.84			800.00			4.05	
	BANK SERVICE CHARGE			0.00			0.00			0.00			0.00			5.00			0.02			0.00			0.00	
	CABLE TV			413.19			16.38			399.68			14.56			3,277.46			15.71			3,148.14			15.95	
	MANAGEMENT FEE			400.00			15.86			0.00			0.00			1,600.00			7.67			0.00			0.00	
	OFFICE EXPENSES			0.00			0.00			0.00			0.00			15.50			0.07			38.02			0.19	
	REPAIRS & MAINTENANCE			375.00			14.87			17.48			0.64			1,475.61			7.07			130.28			0.66	
	RESERVE ACCOUNT			360.00			14.27			360.00			13.12			2,880.00			13.81			2,880.00			14.59	
	SNOWPLOWING			0.00			0.00			0.00			0.00			1,600.00			7.67			2,000.00			10.13	
	TRANSFER FEE			0.00			0.00			0.00			0.00			0.00			0.00			50.00			0.25	
	TRASH REMOVAL			128.52			5.10			118.20			4.31			1,030.24			4.94			965.70			4.89	
	WATER & SEWER			0.00			0.00			404.45			14.73			4,100.81			19.66			4,078.77			20.67	
	WORK DAY EXPENSES			0.00			0.00			0.00			0.00			1,212.24			5.81			1,353.30			6.86	
	UTILITIES			39.78			1.58			33.30			1.21			628.37			3.01			556.78			2.82	

	Total Expenses			1,816.49			72.02			1,433.11			52.21			18,625.23			89.29			16,000.99			81.07	

	Net Income (Loss)	$		705.79			27.98	$		1,311.73			47.79	$		2,233.37			10.71	$		3,735.10			18.93