Financial Statements

of
COBBLESTONE CONDOMINIUM ASSOCIATION
For the Periods Ended April 30, 2011 and 2010

COBBLESTONE CONDOMINIUM ASSOCIATION
Balance Sheet
April 30, 2011 and 2010

Assets

			As of				As of		
			Apr. 30, 2011				Apr. 30, 2010		

	Current Assets
	CASH IN BANK-CHECKING	$		6,539.95	$		7,908.62	
	CASH IN BANK-SAVINGS			8,009.04			23,381.43	
	90 DAY CD			10,024.94			0.00	

	Total Current Assets	$		24,573.93	$		31,290.05	

	Total Assets	$		24,573.93	$		31,290.05	

COBBLESTONE CONDOMINIUM ASSOCIATION
Balance Sheet
April 30, 2011 and 2010

Liabilities and Equity

			As of				As of		
			Apr. 30, 2011				Apr. 30, 2010		

	Current Liabilities
	DEPOSITS PAYABLE	$		660.00	$		660.00	
	RESERVE			16,943.39			22,693.69	

	Total Current Liabilities	$		17,603.39	$		23,353.69	

	Equity
	RETAINED EARNINGS			7,102.07			7,406.47	
	Current Income (Loss)			(131.53)			529.89	

	Total Equity			6,970.54			7,936.36	

	Total Liabilities & Equity	$		24,573.93	$		31,290.05	

COBBLESTONE CONDOMINIUM ASSOCIATION
Income Statement
For the Periods Ended April 30, 2011 and 2010

			1 Month Ended								1 Month Ended								4 Months Ended								4 Months Ended						
			Apr. 30, 2011				Pct				Apr. 30, 2010				Pct				Apr. 30, 2011				Pct				Apr. 30, 2010				Pct		

	Revenue
	INCOME-DUES	$		2,160.00			85.44	$		2,160.00			84.87	$		8,640.00			85.21	$		8,640.00			85.33	
	INCOME-RESERVE			360.00			14.24			360.00			14.14			1,440.00			14.20			1,440.00			14.22	
	INCOME-LATE FEES			0.00			0.00			21.00			0.83			42.00			0.41			31.00			0.31	
	INCOME-INTEREST			8.18			0.32			4.08			0.16			17.41			0.17			14.81			0.15	

	Total Revenue			2,528.18			100.00			2,545.08			100.00			10,139.41			100.00			10,125.81			100.00	

	Operating Expenses
	BOOKKEEPING			100.00			3.96			100.00			3.93			400.00			3.95			400.00			3.95	
	BANK SERVICE CHARGE			0.00			0.00			0.00			0.00			0.00			0.00			5.00			0.05	
	CABLE TV			456.66			18.06			427.32			16.79			1,697.26			16.74			1,624.84			16.05	
	MANAGEMENT FEE			400.00			15.82			0.00			0.00			1,200.00			11.84			0.00			0.00	
	OFFICE EXPENSES			0.00			0.00			0.00			0.00			61.63			0.61			15.50			0.15	
	REPAIRS & MAINTENANCE			578.05			22.86			825.00			32.42			(50.97)			(0.50)			825.00			8.15	
	RESERVE ACCOUNT			360.00			14.24			360.00			14.14			1,440.00			14.20			1,440.00			14.22	
	SNOWPLOWING			0.00			0.00			400.00			15.72			1,795.00			17.70			1,600.00			15.80	
	TRASH REMOVAL			146.55			5.80			128.84			5.06			562.95			5.55			515.84			5.09	
	WATER & SEWER			1,377.36			54.48			1,370.88			53.86			2,742.60			27.05			2,727.11			26.93	
	UTILITIES			104.80			4.15			108.93			4.28			422.47			4.17			442.63			4.37	

	Total Expenses			3,523.42			139.37			3,720.97			146.20			10,270.94			101.30			9,595.92			94.77	

	Net Income (Loss)	$		(995.24)			(39.37)	$		(1,175.89)			(46.20)	$		(131.53)			(1.30)	$		529.89			5.23