Financial Statements

of
COBBLESTONE CONDOMINIUM ASSOCIATION
For the Periods Ended September 30, 2018 and 2017

COBBLESTONE CONDOMINIUM ASSOCIATION
Balance Sheet
September 30, 2018 and 2017

Assets

			As of				As of		
			Sep. 30, 2018				Sep. 30, 2017		

	Current Assets
	CASH IN BANK-CHECKING	$		11,251.93	$		10,896.14	
	CASH IN BANK-RESERVE SAVINGS			400.36			400.29	
	ALPINE BANK-RESERVE ACCOUNT			23,296.04			17,654.21	
	ACCOUNTS RECEIVABLE-DUES			0.00			(800.00)	
	PREPAID INSURANCE			576.97			547.25	
	LOAN FEES-ALPINE BANK			1,404.00			1,404.00	
	ACCUM AMORT-LOAN FEES			(889.20)			(889.20)	

	Total Current Assets	$		36,040.10	$		29,212.69	

	Total Assets	$		36,040.10	$		29,212.69	

COBBLESTONE CONDOMINIUM ASSOCIATION
Balance Sheet
September 30, 2018 and 2017

Liabilities and Equity

			As of				As of		
			Sep. 30, 2018				Sep. 30, 2017		

	Current Liabilities
	DEPOSITS PAYABLE	$		660.00	$		660.00	
	RESERVE			21,537.36			15,897.36	
	NOTE PAYABLE-ALPINE BANK			54,808.86			64,461.15	

	Total Current Liabilities	$		77,006.22	$		81,018.51	

	Equity
	RETAINED EARNINGS			10,884.11			(3,131.06)	
	ROOF RESERVE FUND BALANCE			(59,144.20)			(59,144.20)	
	Current Income (Loss)			7,293.97			10,469.44	

	Total Equity			(40,966.12)			(51,805.82)	

	Total Liabilities & Equity	$		36,040.10	$		29,212.69	

COBBLESTONE CONDOMINIUM ASSOCIATION
Income Statement
For the Periods Ended September 30, 2018 and 2017

			1 Month Ended								1 Month Ended								9 Months Ended								9 Months Ended						
			Sep. 30, 2018				Pct				Sep. 30, 2017				Pct				Sep. 30, 2018				Pct				Sep. 30, 2017				Pct		

	Revenue
	INCOME-DUES	$		4,000.00			82.64	$		4,440.00			92.50	$		38,640.00			89.36	$		38,160.00			90.53	
	INCOME-RESERVE			800.00			16.53			360.00			7.50			4,560.00			10.55			3,240.00			7.69	
	INCOME-WORK DAY			0.00			0.00			0.00			0.00			0.00			0.00			750.00			1.78	
	INCOME-LATE FEES			40.00			0.83			0.00			0.00			40.00			0.09			0.00			0.00	
	INCOME-INTEREST			0.00			0.00			0.14			0.00			1.44			0.00			1.20			0.00	

	Total Revenue			4,840.00			100.00			4,800.14			100.00			43,241.44			100.00			42,151.20			100.00	

	Operating Expenses
	BOOKKEEPING			100.00			2.07			100.00			2.08			900.00			2.08			900.00			2.14	
	CABLE TV			533.11			11.01			515.32			10.74			4,541.11			10.50			4,423.26			10.49	
	INTEREST EXPENSE			335.43			6.93			308.17			6.42			2,737.68			6.33			3,052.19			7.24	
	INSURANCE			508.42			10.50			547.25			11.40			4,575.78			10.58			4,925.25			11.68	
	LICENSES			10.00			0.21			0.00			0.00			10.00			0.02			0.00			0.00	
	MANAGEMENT FEE			500.00			10.33			500.00			10.42			3,250.00			7.52			4,500.00			10.68	
	OFFICE EXPENSES			50.00			1.03			0.00			0.00			98.32			0.23			98.40			0.23	
	PROFESSIONAL FEES-ACC			0.00			0.00			0.00			0.00			350.00			0.81			350.00			0.83	
	REPAIRS & MAINTENANCE			0.00			0.00			178.61			3.72			5,050.78			11.68			360.77			0.86	
	RESERVE ACCOUNT			800.00			16.53			360.00			7.50			4,560.00			10.55			3,240.00			7.69	
	SNOWPLOWING			0.00			0.00			0.00			0.00			2,040.00			4.72			586.25			1.39	
	TRASH REMOVAL			215.80			4.46			352.69			7.35			1,925.39			4.45			3,218.86			7.64	
	WATER & SEWER			0.00			0.00			0.00			0.00			4,943.43			11.43			5,068.45			12.02	
	UTILITIES			44.54			0.92			55.63			1.16			964.98			2.23			958.33			2.27	

	Total Expenses			3,097.30			63.99			2,917.67			60.78			35,947.47			83.13			31,681.76			75.16	

	Net Income (Loss)	$		1,742.70			36.01	$		1,882.47			39.22	$		7,293.97			16.87	$		10,469.44			24.84