Financial Statements

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

COBBLESTONE CONDOMINIUM ASSOCIATION
Balance Sheet
October 31, 2010 and 2009

Assets

			As of				As of		
			Oct. 31, 2010				Oct. 31, 2009		

	Current Assets
	CASH IN BANK-CHECKING	$		5,098.16	$		5,393.10	
	CASH IN BANK-SAVINGS			5,845.52			21,198.11	
	90 DAY CD			10,009.95			0.00	
	ACCOUNTS RECEIVABLE-DUES			0.00			(175.00)	

	Total Current Assets	$		20,953.63	$		26,416.21	

	Total Assets	$		20,953.63	$		26,416.21	

COBBLESTONE CONDOMINIUM ASSOCIATION
Balance Sheet
October 31, 2010 and 2009

Liabilities and Equity

			As of				As of		
			Oct. 31, 2010				Oct. 31, 2009		

	Current Liabilities
	DEPOSITS PAYABLE	$		660.00	$		660.00	
	RESERVE			14,783.39			20,533.69	

	Total Current Liabilities	$		15,443.39	$		21,193.69	

	Equity
	RETAINED EARNINGS			7,406.47			5,446.33	
	Current Income (Loss)			(1,896.23)			(223.81)	

	Total Equity			5,510.24			5,222.52	

	Total Liabilities & Equity	$		20,953.63	$		26,416.21	

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

			1 Month Ended								1 Month Ended								10 Months Ended								10 Months Ended						
			Oct. 31, 2010				Pct				Oct. 31, 2009				Pct				Oct. 31, 2010				Pct				Oct. 31, 2009				Pct		

	Revenue
	INCOME-DUES	$		2,160.00			85.36	$		2,160.00			85.56	$		21,600.00			83.22	$		20,520.00			82.79	
	INCOME-RESERVE			360.00			14.23			360.00			14.26			3,600.00			13.87			3,420.00			13.80	
	INCOME-WORK DAY			0.00			0.00			0.00			0.00			630.00			2.43			630.00			2.54	
	INCOME-LATE FEES			0.00			0.00			0.00			0.00			86.00			0.33			102.00			0.41	
	INCOME-TRANSFERS			0.00			0.00			0.00			0.00			0.00			0.00			50.00			0.20	
	INCOME-INTEREST			10.48			0.41			4.61			0.18			39.15			0.15			63.18			0.25	

	Total Revenue			2,530.48			100.00			2,524.61			100.00			25,955.15			100.00			24,785.18			100.00	

	Operating Expenses
	BOOKKEEPING			100.00			3.95			100.00			3.96			1,000.00			3.85			1,000.00			4.03	
	BANK SERVICE CHARGE			0.00			0.00			0.00			0.00			5.00			0.02			0.00			0.00	
	CABLE TV			413.19			16.33			399.68			15.83			4,103.84			15.81			3,947.50			15.93	
	INSURANCE			5,278.00			208.58			5,193.00			205.70			5,278.00			20.34			5,193.00			20.95	
	LEGAL			0.00			0.00			325.00			12.87			0.00			0.00			325.00			1.31	
	LICENSES			10.00			0.40			0.00			0.00			10.00			0.04			0.00			0.00	
	MANAGEMENT FEE			400.00			15.81			0.00			0.00			2,400.00			9.25			0.00			0.00	
	OFFICE EXPENSES			0.00			0.00			10.00			0.40			15.50			0.06			92.02			0.37	
	REPAIRS & MAINTENANCE			0.00			0.00			33.38			1.32			1,475.61			5.69			574.66			2.32	
	RESERVE ACCOUNT			0.00			0.00			360.00			14.26			3,240.00			12.48			3,600.00			14.52	
	SNOWPLOWING			0.00			0.00			0.00			0.00			1,600.00			6.16			2,000.00			8.07	
	TRANSFER FEE			0.00			0.00			0.00			0.00			0.00			0.00			50.00			0.20	
	TRASH REMOVAL			128.64			5.08			121.20			4.80			1,287.40			4.96			1,208.10			4.87	
	WATER & SEWER			1,447.62			57.21			960.00			38.03			5,548.43			21.38			5,038.77			20.33	
	WORK DAY EXPENSES			0.00			0.00			0.00			0.00			1,212.24			4.67			1,353.30			5.46	
	UTILITIES			15.81			0.62			36.55			1.45			675.36			2.60			626.64			2.53	

	Total Expenses			7,793.26			307.98			7,538.81			298.61			27,851.38			107.31			25,008.99			100.90	

	Net Income (Loss)	$		(5,262.78)			(207.98)	$		(5,014.20)			(198.61)	$		(1,896.23)			(7.31)	$		(223.81)			(0.90)