ASSETS          

Cash:
Cash-Checking                  $       3,574.42
Petty Cash                               300.00
Maintenance Reserves                  39,243.82
                                ---------------
Total Cash                                          $      43,118.24          

Other Assets:
Office Equipment/Furnishings   $       2,389.16
Maintenance Equipment                  4,468.06
Assessment Receivable                  1,038.19
Late Charge Receivables                  101.56
                                ---------------
Total Other Assets                                 $       7,996.97          

Total Assets                                        $      51,115.21
                                                     ===============
          

                              LIABILITIES & EQUITY          

Current Liabilities
Prepaid Assessments            $       3,254.46
                                ---------------
Total Current Liabilities                           $       3,254.46
          

Reserves
Roof Replacement Reserves      $       2,646.00
Exterior Painting Reserves             2,646.00
Park Garage/Courtyard                    420.00
Carpet Replacement Reserves              420.00
Unallocated Reserves                  32,660.86
                                ---------------
Total Reserves                                      $      38,792.86
          

Equity
Retained Earnings              $      12,053.42
Current Year Net Income               (2,985.53)
                                ---------------
Total Equity                                        $       9,067.89          

Total Liabilities & Equity                          $      51,115.21
                                                     ===============