Financial Statements

of
COBBLESTONE CONDOMINIUM ASSOCIATION
For the Periods Ended October 31, 2006 and 2005

COBBLESTONE CONDOMINIUM ASSOCIATION
Balance Sheet
October 31, 2006 and 2005

Assets

			As of				As of		
			Oct. 31, 2006				Oct. 31, 2005		

	Current Assets
	CASH IN BANK-CHECKING	$		912.92	$		330.44	
	CASH IN BANK-SAVINGS			8,923.79			10,693.58	
	ACCOUNTS RECEIVABLE-DUES			(270.00)			0.00	

	Total Current Assets	$		9,566.71	$		11,024.02	

	Total Assets	$		9,566.71	$		11,024.02	

COBBLESTONE CONDOMINIUM ASSOCIATION
Balance Sheet
October 31, 2006 and 2005

Liabilities and Equity

			As of				As of		
			Oct. 31, 2006				Oct. 31, 2005		

	Current Liabilities
	DEPOSITS PAYABLE	$		660.00	$		660.00	
	RESERVE			8,573.69			12,848.00	

	Total Current Liabilities	$		9,233.69	$		13,508.00	

	Equity
	RETAINED EARNINGS			(1,356.14)			963.17	
	Current Income (Loss)			1,689.16			(3,447.15)	

	Total Equity			333.02			(2,483.98)	

	Total Liabilities & Equity	$		9,566.71	$		11,024.02	

COBBLESTONE CONDOMINIUM ASSOCIATION
Income Statement
For the Periods Ended October 31, 2006 and 2005

			1 Month Ended								1 Month Ended								10 Months Ended								10 Months Ended						
			Oct. 31, 2006				Pct				Oct. 31, 2005				Pct				Oct. 31, 2006				Pct				Oct. 31, 2005				Pct		

	Revenue
	INCOME-DUES	$		1,966.33			80.14	$		1,540.00			81.82	$		19,346.33			76.73	$		15,400.00			81.56	
	INCOME-RESERVE			330.00			13.45			330.00			17.53			3,300.00			13.09			3,300.00			17.48	
	INCOME-LATE FEES			0.00			0.00			0.00			0.00			0.00			0.00			68.50			0.36	
	INCOME-TRANSFERS			50.00			2.04			0.00			0.00			50.00			0.20			0.00			0.00	
	INCOME-INTEREST			7.21			0.29			12.20			0.65			117.05			0.46			112.53			0.60	
	SPECIAL ASSESSMENT			100.00			4.08			0.00			0.00			2,400.00			9.52			0.00			0.00	

	Total Revenue			2,453.54			100.00			1,882.20			100.00			25,213.38			100.00			18,881.03			100.00	

	Operating Expenses
	BOOKKEEPING			100.00			4.08			100.00			5.31			1,000.00			3.97			1,000.00			5.30	
	CABLE TV			342.80			13.97			322.03			17.11			3,386.46			13.43			3,183.70			16.86	
	INSURANCE			4,760.00			194.01			4,672.00			248.22			4,760.00			18.88			4,672.00			24.74	
	OFFICE EXPENSES			39.00			1.59			12.00			0.64			63.00			0.25			12.00			0.06	
	REPAIRS & MAINTENANCE			0.00			0.00			0.00			0.00			1,437.21			5.70			555.00			2.94	
	RESERVE ACCOUNT			360.00			14.67			360.00			19.13			3,600.00			14.28			3,600.00			19.07	
	SNOWPLOWING			0.00			0.00			0.00			0.00			1,480.00			5.87			1,225.00			6.49	
	TAXES			0.00			0.00			10.00			0.53			0.00			0.00			10.00			0.05	
	TRANSFER FEE			50.00			2.04			0.00			0.00			50.00			0.20			0.00			0.00	
	TRASH REMOVAL			106.20			4.33			151.60			8.05			1,244.03			4.93			1,321.60			7.00	
	WATER & SEWER			1,270.00			51.76			1,394.00			74.06			5,097.50			20.22			5,189.00			27.48	
	WORK DAY EXPENSES			0.00			0.00			0.00			0.00			806.83			3.20			1,017.86			5.39	
	UTILITIES			28.59			1.17			25.95			1.38			599.19			2.38			542.02			2.87	

	Total Expenses			7,056.59			287.61			7,047.58			374.43			23,524.22			93.30			22,328.18			118.26	

	Net Income (Loss)	$		(4,603.05)			(187.61)	$		(5,165.38)			(274.43)	$		1,689.16			6.70	$		(3,447.15)			(18.26)