Financial Statements

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

COBBLESTONE CONDOMINIUM ASSOCIATION
Balance Sheet
December 31, 2009 and 2008

Assets

			As of				As of		
			Dec. 31, 2009				Dec. 31, 2008		

	Current Assets
	CASH IN BANK-CHECKING	$		7,513.54	$		4,895.09	
	CASH IN BANK-SAVINGS			21,926.62			17,534.93	
	ACCOUNTS RECEIVABLE-DUES			(120.00)			610.00	

	Total Current Assets	$		29,320.16	$		23,040.02	

	Total Assets	$		29,320.16	$		23,040.02	

COBBLESTONE CONDOMINIUM ASSOCIATION
Balance Sheet
December 31, 2009 and 2008

Liabilities and Equity

			As of				As of		
			Dec. 31, 2009				Dec. 31, 2008		

	Current Liabilities
	DEPOSITS PAYABLE	$		660.00	$		660.00	
	RESERVE			21,253.69			16,933.69	

	Total Current Liabilities	$		21,913.69	$		17,593.69	

	Equity
	RETAINED EARNINGS			5,446.33			4,595.91	
	Current Income (Loss)			1,960.14			850.42	

	Total Equity			7,406.47			5,446.33	

	Total Liabilities & Equity	$		29,320.16	$		23,040.02	

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

			1 Month Ended								1 Month Ended								12 Months Ended								12 Months Ended						
			Dec. 31, 2009				Pct				Dec. 31, 2008				Pct				Dec. 31, 2009				Pct				Dec. 31, 2008				Pct		

	Revenue
	INCOME-DUES	$		2,160.00			85.57	$		1,980.00			83.86	$		24,840.00			83.11	$		23,760.00			83.74	
	INCOME-RESERVE			360.00			14.26			330.00			13.98			4,140.00			13.85			3,960.00			13.96	
	INCOME-WORK DAY			0.00			0.00			0.00			0.00			630.00			2.11			420.00			1.48	
	INCOME-LATE FEES			0.00			0.00			42.00			1.78			157.00			0.53			63.00			0.22	
	INCOME-TRANSFERS			0.00			0.00			0.00			0.00			50.00			0.17			50.00			0.18	
	INCOME-INTEREST			4.25			0.17			9.11			0.39			71.69			0.24			121.96			0.43	

	Total Revenue			2,524.25			100.00			2,361.11			100.00			29,888.69			100.00			28,374.96			100.00	

	Operating Expenses
	BOOKKEEPING			100.00			3.96			100.00			4.24			1,200.00			4.01			1,200.00			4.23	
	BANK SERVICE CHARGE			0.00			0.00			0.00			0.00			0.00			0.00			5.00			0.02	
	CABLE TV			399.68			15.83			375.03			15.88			4,746.86			15.88			4,463.81			15.73	
	INSURANCE			0.00			0.00			0.00			0.00			5,193.00			17.37			5,012.00			17.66	
	LEGAL			0.00			0.00			0.00			0.00			325.00			1.09			0.00			0.00	
	LICENSES			0.00			0.00			0.00			0.00			0.00			0.00			10.00			0.04	
	OFFICE EXPENSES			40.00			1.58			38.00			1.61			132.02			0.44			93.00			0.33	
	REPAIRS & MAINTENANCE			0.00			0.00			0.00			0.00			574.66			1.92			1,149.00			4.05	
	RESERVE ACCOUNT			360.00			14.26			360.00			15.25			4,320.00			14.45			4,320.00			15.22	
	SNOWPLOWING			0.00			0.00			500.00			21.18			2,400.00			8.03			2,680.33			9.45	
	TRANSFER FEE			0.00			0.00			0.00			0.00			50.00			0.17			50.00			0.18	
	TRASH REMOVAL			121.20			4.80			120.55			5.11			1,450.50			4.85			1,449.60			5.11	
	WATER & SEWER			0.00			0.00			0.00			0.00			5,432.25			18.17			5,219.38			18.39	
	WORK DAY EXPENSES			0.00			0.00			0.00			0.00			1,353.30			4.53			949.99			3.35	
	UTILITIES			84.33			3.34			112.18			4.75			750.96			2.51			922.43			3.25	

	Total Expenses			1,105.21			43.78			1,605.76			68.01			27,928.55			93.44			27,524.54			97.00	

	Net Income (Loss)	$		1,419.04			56.22	$		755.35			31.99	$		1,960.14			6.56	$		850.42			3.00