Financial Statements

of
COBBLESTONE CONDOMINIUM ASSOCIATION
For the Periods Ended November 30, 2005 and 2004

COBBLESTONE CONDOMINIUM ASSOCIATION
Balance Sheet
November 30, 2005 and 2004

Assets

			As of				As of		
			Nov. 30, 2005				Nov. 30, 2004		

	Current Assets
	CASH IN BANK-CHECKING	$		1,241.26	$		908.26	
	CASH IN BANK-SAVINGS			11,065.48			9,111.81	
	ACCOUNTS RECEIVABLE-DUES			0.00			(149.00)	

	Total Current Assets	$		12,306.74	$		9,871.07	

	Total Assets	$		12,306.74	$		9,871.07	

COBBLESTONE CONDOMINIUM ASSOCIATION
Balance Sheet
November 30, 2005 and 2004

Liabilities and Equity

			As of				As of		
			Nov. 30, 2005				Nov. 30, 2004		

	Current Liabilities
	DEPOSITS PAYABLE	$		660.00	$		660.00	
	RESERVE			13,208.00			9,573.00	

	Total Current Liabilities	$		13,868.00	$		10,233.00	

	Equity
	RETAINED EARNINGS			963.17			308.13	
	Current Income (Loss)			(2,524.43)			(670.06)	

	Total Equity			(1,561.26)			(361.93)	

	Total Liabilities & Equity	$		12,306.74	$		9,871.07	

COBBLESTONE CONDOMINIUM ASSOCIATION
Income Statement
For the Periods Ended November 30, 2005 and 2004

			1 Month Ended								1 Month Ended								11 Months Ended								11 Months Ended						
			Nov. 30, 2005				Pct				Nov. 30, 2004				Pct				Nov. 30, 2005				Pct				Nov. 30, 2004				Pct		

	Revenue
	INCOME-DUES	$		1,540.00			81.83	$		1,540.00			80.17	$		16,940.00			81.59	$		16,830.00			81.78	
	INCOME-RESERVE			330.00			17.54			330.00			17.18			3,630.00			17.48			3,630.00			17.64	
	INCOME-LATE FEES			0.00			0.00			51.00			2.65			68.50			0.33			51.00			0.25	
	INCOME-INTEREST			11.90			0.63			0.00			0.00			124.43			0.60			69.70			0.34	

	Total Revenue			1,881.90			100.00			1,921.00			100.00			20,762.93			100.00			20,580.70			100.00	

	Operating Expenses
	BOOKKEEPING			100.00			5.31			100.00			5.21			1,100.00			5.30			1,100.00			5.34	
	CABLE TV			322.03			17.11			303.73			15.81			3,505.73			16.88			3,306.71			16.07	
	INSURANCE			0.00			0.00			0.00			0.00			4,672.00			22.50			4,062.00			19.74	
	LICENSES			0.00			0.00			0.00			0.00			0.00			0.00			45.00			0.22	
	OFFICE EXPENSES			0.00			0.00			0.00			0.00			12.00			0.06			44.00			0.21	
	REPAIRS & MAINTENANCE			0.00			0.00			0.00			0.00			555.00			2.67			1,257.33			6.11	
	RESERVE ACCOUNT			360.00			19.13			360.00			18.74			3,960.00			19.07			3,960.00			19.24	
	SNOWPLOWING			0.00			0.00			0.00			0.00			1,225.00			5.90			660.00			3.21	
	TAXES			0.00			0.00			0.00			0.00			10.00			0.05			0.00			0.00	
	TRASH REMOVAL			148.00			7.86			130.00			6.77			1,469.60			7.08			1,430.00			6.95	
	WATER & SEWER			0.00			0.00			0.00			0.00			5,189.00			24.99			4,735.00			23.01	
	WORK DAY EXPENSES			0.00			0.00			0.00			0.00			1,017.86			4.90			0.00			0.00	
	UTILITIES			29.15			1.55			25.84			1.35			571.17			2.75			650.72			3.16	

	Total Expenses			959.18			50.97			919.57			47.87			23,287.36			112.16			21,250.76			103.26	

	Net Income (Loss)	$		922.72			49.03	$		1,001.43			52.13	$		(2,524.43)			(12.16)	$		(670.06)			(3.26)