Financial Statements

of
COBBLESTONE CONDOMINIUM ASSOCIATION
For the Periods Ended November 30, 2010 and 2009

COBBLESTONE CONDOMINIUM ASSOCIATION
Balance Sheet
November 30, 2010 and 2009

Assets

			As of				As of		
			Nov. 30, 2010				Nov. 30, 2009		

	Current Assets
	CASH IN BANK-CHECKING	$		5,675.22	$		6,098.75	
	CASH IN BANK-SAVINGS			6,206.03			21,562.37	
	90 DAY CD			10,009.95			0.00	
	ACCOUNTS RECEIVABLE-DUES			420.00			(120.00)	

	Total Current Assets	$		22,311.20	$		27,541.12	

	Total Assets	$		22,311.20	$		27,541.12	

COBBLESTONE CONDOMINIUM ASSOCIATION
Balance Sheet
November 30, 2010 and 2009

Liabilities and Equity

			As of				As of		
			Nov. 30, 2010				Nov. 30, 2009		

	Current Liabilities
	DEPOSITS PAYABLE	$		660.00	$		660.00	
	RESERVE			15,143.39			20,893.69	

	Total Current Liabilities	$		15,803.39	$		21,553.69	

	Equity
	RETAINED EARNINGS			7,406.47			5,446.33	
	Current Income (Loss)			(898.66)			541.10	

	Total Equity			6,507.81			5,987.43	

	Total Liabilities & Equity	$		22,311.20	$		27,541.12	

COBBLESTONE CONDOMINIUM ASSOCIATION
Income Statement
For the Periods Ended November 30, 2010 and 2009

			1 Month Ended								1 Month Ended								11 Months Ended								11 Months Ended						
			Nov. 30, 2010				Pct				Nov. 30, 2009				Pct				Nov. 30, 2010				Pct				Nov. 30, 2009				Pct		

	Revenue
	INCOME-DUES	$		2,160.00			87.25	$		2,160.00			83.74	$		23,760.00			83.57	$		22,680.00			82.88	
	INCOME-RESERVE			360.00			14.54			360.00			13.96			3,960.00			13.93			3,780.00			13.81	
	INCOME-WORK DAY			0.00			0.00			0.00			0.00			630.00			2.22			630.00			2.30	
	INCOME-LATE FEES			(45.00)			(1.82)			55.00			2.13			41.00			0.14			157.00			0.57	
	INCOME-TRANSFERS			0.00			0.00			0.00			0.00			0.00			0.00			50.00			0.18	
	INCOME-INTEREST			0.51			0.02			4.26			0.17			39.66			0.14			67.44			0.25	

	Total Revenue			2,475.51			100.00			2,579.26			100.00			28,430.66			100.00			27,364.44			100.00	

	Operating Expenses
	BOOKKEEPING			100.00			4.04			100.00			3.88			1,100.00			3.87			1,100.00			4.02	
	BANK SERVICE CHARGE			0.00			0.00			0.00			0.00			5.00			0.02			0.00			0.00	
	CABLE TV			421.12			17.01			399.68			15.50			4,524.96			15.92			4,347.18			15.89	
	INSURANCE			0.00			0.00			0.00			0.00			5,278.00			18.56			5,193.00			18.98	
	LEGAL			0.00			0.00			0.00			0.00			0.00			0.00			325.00			1.19	
	LICENSES			0.00			0.00			0.00			0.00			10.00			0.04			0.00			0.00	
	MANAGEMENT FEE			400.00			16.16			0.00			0.00			2,800.00			9.85			0.00			0.00	
	OFFICE EXPENSES			0.00			0.00			0.00			0.00			15.50			0.05			92.02			0.34	
	REPAIRS & MAINTENANCE			0.00			0.00			0.00			0.00			1,475.61			5.19			574.66			2.10	
	RESERVE ACCOUNT			360.00			14.54			360.00			13.96			3,600.00			12.66			3,960.00			14.47	
	SNOWPLOWING			0.00			0.00			400.00			15.51			1,600.00			5.63			2,400.00			8.77	
	TRANSFER FEE			0.00			0.00			0.00			0.00			0.00			0.00			50.00			0.18	
	TRASH REMOVAL			128.52			5.19			121.20			4.70			1,415.92			4.98			1,329.30			4.86	
	WATER & SEWER			0.00			0.00			393.48			15.26			5,548.43			19.52			5,432.25			19.85	
	WORK DAY EXPENSES			0.00			0.00			0.00			0.00			1,212.24			4.26			1,353.30			4.95	
	UTILITIES			68.30			2.76			39.99			1.55			743.66			2.62			666.63			2.44	

	Total Expenses			1,477.94			59.70			1,814.35			70.34			29,329.32			103.16			26,823.34			98.02	

	Net Income (Loss)	$		997.57			40.30	$		764.91			29.66	$		(898.66)			(3.16)	$		541.10			1.98