Financial Statements

of
COBBLESTONE CONDOMINIUM ASSOCIATION
For the Periods Ended January 31, 2008 and 2007

COBBLESTONE CONDOMINIUM ASSOCIATION
Balance Sheet
January 31, 2008 and 2007

Assets

			As of				As of		
			Jan. 31, 2008				Jan. 31, 2007		

	Current Assets
	CASH IN BANK-CHECKING	$		4,132.34	$		2,223.49	
	CASH IN BANK-SAVINGS			13,463.85			10,027.73	
	ACCOUNTS RECEIVABLE-DUES			172.00			(130.00)	

	Total Current Assets	$		17,768.19	$		12,121.22	

	Total Assets	$		17,768.19	$		12,121.22	

COBBLESTONE CONDOMINIUM ASSOCIATION
Balance Sheet
January 31, 2008 and 2007

Liabilities and Equity

			As of				As of		
			Jan. 31, 2008				Jan. 31, 2007		

	Current Liabilities
	DEPOSITS PAYABLE	$		660.00	$		660.00	
	RESERVE			12,973.69			9,653.69	

	Total Current Liabilities	$		13,633.69	$		10,313.69	

	Equity
	RETAINED EARNINGS			4,595.91			2,141.82	
	Current Income (Loss)			(461.41)			(334.29)	

	Total Equity			4,134.50			1,807.53	

	Total Liabilities & Equity	$		17,768.19	$		12,121.22	

COBBLESTONE CONDOMINIUM ASSOCIATION
Income Statement
For the Periods Ended January 31, 2008 and 2007

			1 Month Ended								1 Month Ended								1 Month Ended								1 Month Ended						
			Jan. 31, 2008				Pct				Jan. 31, 2007				Pct				Jan. 31, 2008				Pct				Jan. 31, 2007				Pct		

	Revenue
	INCOME-DUES	$		1,980.00			85.31	$		1,980.00			85.41	$		1,980.00			85.31	$		1,980.00			85.41	
	INCOME-RESERVE			330.00			14.22			330.00			14.24			330.00			14.22			330.00			14.24	
	INCOME-INTEREST			10.88			0.47			8.14			0.35			10.88			0.47			8.14			0.35	

	Total Revenue			2,320.88			100.00			2,318.14			100.00			2,320.88			100.00			2,318.14			100.00	

	Operating Expenses
	BOOKKEEPING			100.00			4.31			100.00			4.31			100.00			4.31			100.00			4.31	
	CABLE TV			356.85			15.38			342.80			14.79			356.85			15.38			342.80			14.79	
	OFFICE EXPENSES			41.00			1.77			0.00			0.00			41.00			1.77			0.00			0.00	
	RESERVE ACCOUNT			360.00			15.51			360.00			15.53			360.00			15.51			360.00			15.53	
	SNOWPLOWING			416.33			17.94			375.00			16.18			416.33			17.94			375.00			16.18	
	TRASH REMOVAL			120.55			5.19			111.51			4.81			120.55			5.19			111.51			4.81	
	WATER & SEWER			1,304.34			56.20			1,260.00			54.35			1,304.34			56.20			1,260.00			54.35	
	UTILITIES			83.22			3.59			103.12			4.45			83.22			3.59			103.12			4.45	

	Total Expenses			2,782.29			119.88			2,652.43			114.42			2,782.29			119.88			2,652.43			114.42	

	Net Income (Loss)	$		(461.41)			(19.88)	$		(334.29)			(14.42)	$		(461.41)			(19.88)	$		(334.29)			(14.42)