Financial Statements

of
COBBLESTONE CONDOMINIUM ASSOCIATION
For the Periods Ended April 30, 2006 and 2005

COBBLESTONE CONDOMINIUM ASSOCIATION
Balance Sheet
April 30, 2006 and 2005

Assets

			As of				As of		
			Apr. 30, 2006				Apr. 30, 2005		

	Current Assets
	CASH IN BANK-CHECKING	$		984.41	$		1,411.22	
	CASH IN BANK-SAVINGS			15,428.97			10,958.62	
	ACCOUNTS RECEIVABLE-DUES			230.00			80.00	

	Total Current Assets	$		16,643.38	$		12,449.84	

	Total Assets	$		16,643.38	$		12,449.84	

COBBLESTONE CONDOMINIUM ASSOCIATION
Balance Sheet
April 30, 2006 and 2005

Liabilities and Equity

			As of				As of		
			Apr. 30, 2006				Apr. 30, 2005		

	Current Liabilities
	DEPOSITS PAYABLE	$		660.00	$		660.00	
	RESERVE			15,146.69			11,373.00	

	Total Current Liabilities	$		15,806.69	$		12,033.00	

	Equity
	RETAINED EARNINGS			(1,356.14)			278.17	
	Current Income (Loss)			2,192.83			138.67	

	Total Equity			836.69			416.84	

	Total Liabilities & Equity	$		16,643.38	$		12,449.84	

COBBLESTONE CONDOMINIUM ASSOCIATION
Income Statement
For the Periods Ended April 30, 2006 and 2005

			1 Month Ended								1 Month Ended								4 Months Ended								4 Months Ended						
			Apr. 30, 2006				Pct				Apr. 30, 2005				Pct				Apr. 30, 2006				Pct				Apr. 30, 2005				Pct		

	Revenue
	INCOME-DUES	$		1,980.00			65.53	$		1,540.00			81.87	$		7,480.00			71.58	$		6,160.00			81.57	
	INCOME-RESERVE			330.00			10.92			330.00			17.54			1,320.00			12.63			1,320.00			17.48	
	INCOME-LATE FEES			0.00			0.00			0.00			0.00			0.00			0.00			34.00			0.45	
	INCOME-INTEREST			11.67			0.39			10.94			0.58			49.23			0.47			37.57			0.50	
	SPECIAL ASSESSMENT			700.00			23.17			0.00			0.00			1,600.00			15.31			0.00			0.00	

	Total Revenue			3,021.67			100.00			1,880.94			100.00			10,449.23			100.00			7,551.57			100.00	

	Operating Expenses
	BOOKKEEPING			100.00			3.31			100.00			5.32			400.00			3.83			400.00			5.30	
	CABLE TV			342.80			11.34			322.03			17.12			1,329.66			12.72			1,251.52			16.57	
	OFFICE EXPENSES			0.00			0.00			0.00			0.00			24.00			0.23			0.00			0.00	
	REPAIRS & MAINTENANCE			107.21			3.55			0.00			0.00			107.21			1.03			0.00			0.00	
	RESERVE ACCOUNT			360.00			11.91			360.00			19.14			1,440.00			13.78			1,440.00			19.07	
	SNOWPLOWING			260.00			8.60			245.00			13.03			1,480.00			14.16			980.00			12.98	
	TRASH REMOVAL			148.00			4.90			130.00			6.91			592.00			5.67			520.00			6.89	
	WATER & SEWER			1,260.00			41.70			1,260.00			66.99			2,520.00			24.12			2,520.00			33.37	
	UTILITIES			83.12			2.75			65.91			3.50			363.53			3.48			301.38			3.99	

	Total Expenses			2,661.13			88.07			2,482.94			132.01			8,256.40			79.01			7,412.90			98.16	

	Net Income (Loss)	$		360.54			11.93	$		(602.00)			(32.01)	$		2,192.83			20.99	$		138.67			1.84