Financial Statements

of
COBBLESTONE CONDOMINIUM ASSOCIATION
For the Periods Ended February 28, 2011 and 2010

COBBLESTONE CONDOMINIUM ASSOCIATION
Balance Sheet
February 28, 2011 and 2010

Assets

			As of				As of		
			Feb. 28, 2011				Feb. 28, 2010		

	Current Assets
	CASH IN BANK-CHECKING	$		8,892.26	$		8,066.66	
	CASH IN BANK-SAVINGS			7,287.71			22,653.48	
	90 DAY CD			10,009.95			0.00	
	ACCOUNTS RECEIVABLE-DUES			(210.00)			0.00	

	Total Current Assets	$		25,979.92	$		30,720.14	

	Total Assets	$		25,979.92	$		30,720.14	

COBBLESTONE CONDOMINIUM ASSOCIATION
Balance Sheet
February 28, 2011 and 2010

Liabilities and Equity

			As of				As of		
			Feb. 28, 2011				Feb. 28, 2010		

	Current Liabilities
	DEPOSITS PAYABLE	$		660.00	$		660.00	
	RESERVE			16,223.39			21,973.69	

	Total Current Liabilities	$		16,883.39	$		22,633.69	

	Equity
	RETAINED EARNINGS			7,102.07			7,406.47	
	Current Income (Loss)			1,994.46			679.98	

	Total Equity			9,096.53			8,086.45	

	Total Liabilities & Equity	$		25,979.92	$		30,720.14	

COBBLESTONE CONDOMINIUM ASSOCIATION
Income Statement
For the Periods Ended February 28, 2011 and 2010

			1 Month Ended								1 Month Ended								2 Months Ended								2 Months Ended						
			Feb. 28, 2011				Pct				Feb. 28, 2010				Pct				Feb. 28, 2011				Pct				Feb. 28, 2010				Pct		

	Revenue
	INCOME-DUES	$		2,160.00			84.29	$		2,160.00			85.60	$		4,320.00			84.99	$		4,320.00			85.43	
	INCOME-RESERVE			360.00			14.05			360.00			14.27			720.00			14.16			720.00			14.24	
	INCOME-LATE FEES			42.00			1.64			0.00			0.00			42.00			0.83			10.00			0.20	
	INCOME-INTEREST			0.56			0.02			3.44			0.14			1.09			0.02			6.86			0.14	

	Total Revenue			2,562.56			100.00			2,523.44			100.00			5,083.09			100.00			5,056.86			100.00	

	Operating Expenses
	BOOKKEEPING			100.00			3.90			100.00			3.96			200.00			3.93			200.00			3.96	
	CABLE TV			413.74			16.15			398.92			15.81			826.86			16.27			798.60			15.79	
	MANAGEMENT FEE			400.00			15.61			0.00			0.00			400.00			7.87			0.00			0.00	
	OFFICE EXPENSES			0.00			0.00			15.50			0.61			61.63			1.21			15.50			0.31	
	REPAIRS & MAINTENANCE			(978.02)			(38.17)			0.00			0.00			(978.02)			(19.24)			0.00			0.00	
	RESERVE ACCOUNT			360.00			14.05			360.00			14.27			720.00			14.16			720.00			14.24	
	SNOWPLOWING			0.00			0.00			400.00			15.85			0.00			0.00			800.00			15.82	
	TRASH REMOVAL			138.80			5.42			128.99			5.11			277.60			5.46			258.16			5.11	
	WATER & SEWER			0.00			0.00			0.00			0.00			1,365.24			26.86			1,356.23			26.82	
	UTILITIES			101.86			3.97			107.81			4.27			215.32			4.24			228.39			4.52	

	Total Expenses			536.38			20.93			1,511.22			59.89			3,088.63			60.76			4,376.88			86.55	

	Net Income (Loss)	$		2,026.18			79.07	$		1,012.22			40.11	$		1,994.46			39.24	$		679.98			13.45