Financial Statements

of
COBBLESTONE CONDOMINIUM ASSOCIATION
For the Periods Ended July 31, 2009 and 2008

COBBLESTONE CONDOMINIUM ASSOCIATION
Balance Sheet
July 31, 2009 and 2008

Assets

			As of				As of		
			Jul. 31, 2009				Jul. 31, 2008		

	Current Assets
	CASH IN BANK-CHECKING	$		7,799.21	$		6,858.85	
	CASH IN BANK-SAVINGS			20,104.18			15,684.63	
	ACCOUNTS RECEIVABLE-DUES			80.00			(210.00)	

	Total Current Assets	$		27,983.39	$		22,333.48	

	Total Assets	$		27,983.39	$		22,333.48	

COBBLESTONE CONDOMINIUM ASSOCIATION
Balance Sheet
July 31, 2009 and 2008

Liabilities and Equity

			As of				As of		
			Jul. 31, 2009				Jul. 31, 2008		

	Current Liabilities
	DEPOSITS PAYABLE	$		660.00	$		660.00	
	RESERVE			19,453.69			15,133.69	

	Total Current Liabilities	$		20,113.69	$		15,793.69	

	Equity
	RETAINED EARNINGS			5,446.33			4,595.91	
	Current Income (Loss)			2,423.37			1,943.88	

	Total Equity			7,869.70			6,539.79	

	Total Liabilities & Equity	$		27,983.39	$		22,333.48	

COBBLESTONE CONDOMINIUM ASSOCIATION
Income Statement
For the Periods Ended July 31, 2009 and 2008

			1 Month Ended								1 Month Ended								7 Months Ended								7 Months Ended						
			Jul. 31, 2009				Pct				Jul. 31, 2008				Pct				Jul. 31, 2009				Pct				Jul. 31, 2008				Pct		

	Revenue
	INCOME-DUES	$		2,160.00			72.11	$		1,980.00			78.24	$		14,040.00			82.63	$		13,860.00			82.83	
	INCOME-RESERVE			360.00			12.02			330.00			13.04			2,340.00			13.77			2,310.00			13.81	
	INCOME-WORK DAY			420.00			14.02			210.00			8.30			420.00			2.47			420.00			2.51	
	INCOME-LATE FEES			0.00			0.00			0.00			0.00			92.00			0.54			21.00			0.13	
	INCOME-TRANSFERS			50.00			1.67			0.00			0.00			50.00			0.29			50.00			0.30	
	INCOME-INTEREST			5.41			0.18			10.52			0.42			49.25			0.29			71.66			0.43	

	Total Revenue			2,995.41			100.00			2,530.52			100.00			16,991.25			100.00			16,732.66			100.00	

	Operating Expenses
	BOOKKEEPING			100.00			3.34			100.00			3.95			700.00			4.12			700.00			4.18	
	CABLE TV			399.68			13.34			375.03			14.82			2,748.46			16.18			2,588.45			15.47	
	OFFICE EXPENSES			0.00			0.00			0.00			0.00			38.02			0.22			41.00			0.25	
	REPAIRS & MAINTENANCE			100.00			3.34			90.00			3.56			112.80			0.66			764.00			4.57	
	RESERVE ACCOUNT			360.00			12.02			360.00			14.23			2,520.00			14.83			2,520.00			15.06	
	SNOWPLOWING			0.00			0.00			0.00			0.00			2,000.00			11.77			1,680.33			10.04	
	TRANSFER FEE			50.00			1.67			0.00			0.00			50.00			0.29			50.00			0.30	
	TRASH REMOVAL			124.20			4.15			123.55			4.88			847.50			4.99			846.85			5.06	
	WATER & SEWER			960.00			32.05			1,324.52			52.34			3,674.32			21.62			3,910.82			23.37	
	WORK DAY EXPENSES			0.00			0.00			65.10			2.57			1,353.30			7.96			949.99			5.68	
	UTILITIES			16.65			0.56			152.48			6.03			523.48			3.08			737.34			4.41	

	Total Expenses			2,110.53			70.46			2,590.68			102.38			14,567.88			85.74			14,788.78			88.38	

	Net Income (Loss)	$		884.88			29.54	$		(60.16)			(2.38)	$		2,423.37			14.26	$		1,943.88			11.62