Financial Statements

of
COBBLESTONE CONDOMINIUM ASSOCIATION
For the Periods Ended April 30, 2007 and 2006

COBBLESTONE CONDOMINIUM ASSOCIATION
Balance Sheet
April 30, 2007 and 2006

Assets

			As of				As of		
			Apr. 30, 2007				Apr. 30, 2006		

	Current Assets
	CASH IN BANK-CHECKING	$		2,428.48	$		984.41	
	CASH IN BANK-SAVINGS			11,133.53			15,428.97	
	ACCOUNTS RECEIVABLE-DUES			(130.00)			230.00	

	Total Current Assets	$		13,432.01	$		16,643.38	

	Total Assets	$		13,432.01	$		16,643.38	

COBBLESTONE CONDOMINIUM ASSOCIATION
Balance Sheet
April 30, 2007 and 2006

Liabilities and Equity

			As of				As of		
			Apr. 30, 2007				Apr. 30, 2006		

	Current Liabilities
	DEPOSITS PAYABLE	$		660.00	$		660.00	
	RESERVE			10,733.69			15,146.69	

	Total Current Liabilities	$		11,393.69	$		15,806.69	

	Equity
	RETAINED EARNINGS			2,141.82			(1,356.14)	
	Current Income (Loss)			(103.50)			2,192.83	

	Total Equity			2,038.32			836.69	

	Total Liabilities & Equity	$		13,432.01	$		16,643.38	

COBBLESTONE CONDOMINIUM ASSOCIATION
Income Statement
For the Periods Ended April 30, 2007 and 2006

			1 Month Ended								1 Month Ended								4 Months Ended								4 Months Ended						
			Apr. 30, 2007				Pct				Apr. 30, 2006				Pct				Apr. 30, 2007				Pct				Apr. 30, 2006				Pct		

	Revenue
	INCOME-DUES	$		1,980.00			85.39	$		1,980.00			65.53	$		7,920.00			85.21	$		7,480.00			71.58	
	INCOME-RESERVE			330.00			14.23			330.00			10.92			1,320.00			14.20			1,320.00			12.63	
	INCOME-LATE FEES			0.00			0.00			0.00			0.00			21.00			0.23			0.00			0.00	
	INCOME-INTEREST			8.73			0.38			11.67			0.39			33.94			0.37			49.23			0.47	
	SPECIAL ASSESSMENT			0.00			0.00			700.00			23.17			0.00			0.00			1,600.00			15.31	

	Total Revenue			2,318.73			100.00			3,021.67			100.00			9,294.94			100.00			10,449.23			100.00	

	Operating Expenses
	BOOKKEEPING			100.00			4.31			100.00			3.31			400.00			4.30			400.00			3.83	
	CABLE TV			356.93			15.39			342.80			11.34			1,399.23			15.05			1,329.66			12.72	
	LEGAL			0.00			0.00			0.00			0.00			1,000.00			10.76			0.00			0.00	
	OFFICE EXPENSES			0.00			0.00			0.00			0.00			44.78			0.48			24.00			0.23	
	REPAIRS & MAINTENANCE			16.00			0.69			107.21			3.55			247.53			2.66			107.21			1.03	
	RESERVE ACCOUNT			360.00			15.53			360.00			11.91			1,440.00			15.49			1,440.00			13.78	
	SNOWPLOWING			375.00			16.17			260.00			8.60			1,500.00			16.14			1,480.00			14.16	
	TRASH REMOVAL			111.51			4.81			148.00			4.90			446.04			4.80			592.00			5.67	
	WATER & SEWER			1,270.80			54.81			1,260.00			41.70			2,530.80			27.23			2,520.00			24.12	
	UTILITIES			92.61			3.99			83.12			2.75			390.06			4.20			363.53			3.48	

	Total Expenses			2,682.85			115.70			2,661.13			88.07			9,398.44			101.11			8,256.40			79.01	

	Net Income (Loss)	$		(364.12)			(15.70)	$		360.54			11.93	$		(103.50)			(1.11)	$		2,192.83			20.99