Financial Statements

of
COBBLESTONE CONDOMINIUM ASSOCIATION
For the Periods Ended November 30, 2008 and 2007

COBBLESTONE CONDOMINIUM ASSOCIATION
Balance Sheet
November 30, 2008 and 2007

Assets

			As of				As of		
			Nov. 30, 2008				Nov. 30, 2007		

	Current Assets
	CASH IN BANK-CHECKING	$		4,358.85	$		4,131.15	
	CASH IN BANK-SAVINGS			17,165.82			12,722.35	
	ACCOUNTS RECEIVABLE-DUES			400.00			(248.00)	

	Total Current Assets	$		21,924.67	$		16,605.50	

	Total Assets	$		21,924.67	$		16,605.50	

COBBLESTONE CONDOMINIUM ASSOCIATION
Balance Sheet
November 30, 2008 and 2007

Liabilities and Equity

			As of				As of		
			Nov. 30, 2008				Nov. 30, 2007		

	Current Liabilities
	DEPOSITS PAYABLE	$		660.00	$		660.00	
	RESERVE			16,213.69			12,253.69	

	Total Current Liabilities	$		16,873.69	$		12,913.69	

	Equity
	RETAINED EARNINGS			4,595.91			2,141.82	
	Current Income (Loss)			455.07			1,549.99	

	Total Equity			5,050.98			3,691.81	

	Total Liabilities & Equity	$		21,924.67	$		16,605.50	

COBBLESTONE CONDOMINIUM ASSOCIATION
Income Statement
For the Periods Ended November 30, 2008 and 2007

			1 Month Ended								1 Month Ended								11 Months Ended								11 Months Ended						
			Nov. 30, 2008				Pct				Nov. 30, 2007				Pct				Nov. 30, 2008				Pct				Nov. 30, 2007				Pct		

	Revenue
	INCOME-DUES	$		1,980.00			85.43	$		1,980.00			85.31	$		21,780.00			83.72	$		21,780.00			83.65	
	INCOME-RESERVE			330.00			14.24			330.00			14.22			3,630.00			13.95			3,630.00			13.94	
	INCOME-WORK DAY			0.00			0.00			0.00			0.00			420.00			1.61			420.00			1.61	
	INCOME-LATE FEES			0.00			0.00			0.00			0.00			21.00			0.08			105.00			0.40	
	INCOME-TRANSFERS			0.00			0.00			0.00			0.00			50.00			0.19			0.00			0.00	
	INCOME-INTEREST			7.82			0.34			10.98			0.47			112.85			0.43			102.76			0.39	

	Total Revenue			2,317.82			100.00			2,320.98			100.00			26,013.85			100.00			26,037.76			100.00	

	Operating Expenses
	BOOKKEEPING			100.00			4.31			100.00			4.31			1,100.00			4.23			1,100.00			4.22	
	BANK SERVICE CHARGE			5.00			0.22			0.00			0.00			5.00			0.02			0.00			0.00	
	CABLE TV			375.03			16.18			357.76			15.41			4,088.78			15.72			3,903.55			14.99	
	INSURANCE			0.00			0.00			93.00			4.01			5,012.00			19.27			4,935.00			18.95	
	LICENSES			0.00			0.00			0.00			0.00			10.00			0.04			10.00			0.04	
	OFFICE EXPENSES			14.00			0.60			0.00			0.00			55.00			0.21			66.53			0.26	
	REPAIRS & MAINTENANCE			0.00			0.00			0.00			0.00			1,149.00			4.42			376.40			1.45	
	RESERVE ACCOUNT			360.00			15.53			360.00			15.51			3,600.00			13.84			3,960.00			15.21	
	SNOWPLOWING			500.00			21.57			395.00			17.02			2,180.33			8.38			1,895.00			7.28	
	TRANSFER FEE			0.00			0.00			0.00			0.00			50.00			0.19			0.00			0.00	
	TRASH REMOVAL			120.55			5.20			111.51			4.80			1,329.05			5.11			1,700.09			6.53	
	WATER & SEWER			0.00			0.00			0.00			0.00			5,219.38			20.06			4,722.84			18.14	
	WORK DAY EXPENSES			0.00			0.00			0.00			0.00			949.99			3.65			1,050.52			4.03	
	UTILITIES			34.88			1.50			43.46			1.87			810.25			3.11			767.84			2.95	

	Total Expenses			1,509.46			65.12			1,460.73			62.94			25,558.78			98.25			24,487.77			94.05	

	Net Income (Loss)	$		808.36			34.88	$		860.25			37.06	$		455.07			1.75	$		1,549.99			5.95