Harrington Grove HOA3:06PMPage 1MAY 7,2009Charleston Management Corp.Balance Sheet for April 30, 2009 (cash basis)

Current Assets:

80,051.26Cash -North State Bank19,655.34Delinquent Dues A/R50,925.91Investment, CD Gateway Bank 10/7/09 2.45%29,698.66Investment, CD NS Bank 12/15/09 3.3051,606.31Investment, CD NS Bank 6/15/09 3.35%100,000.00Investment, CD RBC 7/19/09 3.9%100,000.00Investment, Capital Bank 5/31/2010 4%44,979.16Reserve - M/M, North State Bank

Total Current Assets

476,916.64

Liabilities and Fund Balances:

329,950.30Fund Balance - Future Reserve103,036.19Fund Balance - Operating43,930.15Excess (Deficiency) of Revenues over Expenses

Total Liabilities and Fund Balances

476,916.64(unaudited)

Harrington Grove HOA3:06PMPage 2MAY 7,2009Charleston Management Corp.Income Statement for April 30, 2009 (cash basis)Current MonthYear-to-DateBudget vsBudget vsAnnual AmountBudgetActual $AmountBudgetActual $Budget

Revenues:

8,860.71 0 9,514.76 9,514.76 08,860.71 0 Accounts Receivable Adjustments945.89 0 1,007.56 1,007.56 0945.89 0Interest Income0.00 583 0.00 (2,333.00) 7,000(583.00) 2,333Late Fee Charge0.00 100 375.00 (25.00) 1,200(100.00) 400Newsletter Ad Revenue36,034.69 68,255 142,402.24 5,892.24 273,020(32,220.31) 136,510Owner Dues0.00 0 0.00 (5,509.00) 5,5090.00 5,509Previous year gain150.00 33 505.00 372.00 400117.00 133Violation Income

Total Revenues

153,804.56 144,88568,971(22,979.71) 287,1298,919.5645,991.29

Operating Expenses:Administration

0.00 0 3,156.50 (343.50) 3,5000.00 3,500Easement-S&R Club

Totals for Administration

3,156.50 3,50000.00 3,500(343.50)0.00

Utilities

451.43 250 1,055.58 55.58 3,000201.43 1,000Electric28.21 92 62.82 (304.18) 1,100(63.79) 367Water

Totals for Utilities

1,118.40 1,367342137.64 4,100(248.60)479.64

Grounds

4,989.00 5,056 19,956.00 (267.00) 60,668(67.00) 20,223Grounds Contract9,280.00 2,500 14,148.00 4,148.00 30,0006,780.00 10,000Grounds Extra/Improvement

Totals for Grounds

34,104.00 30,2237,5566,713.00 90,6683,881.0014,269.00

Maintenance

0.00 100 400.00 0.00 1,200(100.00) 400Fence maintenance0.00 83 467.30 134.30 1,000(83.00) 333Sign Maintenance

Totals for Maintenance

867.30 733183(183.00) 2,200134.300.00

Professional Fees

0.00 0 0.00 (600.00) 2,6000.00 600 Accounting - CPA0.00 92 0.00 (367.00) 1,100(92.00) 367Legal fees-ARC268.75 167 712.50 45.50 2,000101.75 667Legal-Opinion1,785.75 250 4,808.18 3,808.18 3,0001,535.75 1,000Legal/Collection Fees5,148.00 5,148 20,592.00 0.00 61,7760.00 20,592Management Contract0.00 34 0.00 (135.00) 406(34.00) 135Misc. Operating Reserve

Totals for Professional Fees

26,112.68 23,3615,6911,511.50 70,8822,751.687,202.50(unaudited)

Harrington Grove HOA3:06PMPage 3MAY 7,2009Charleston Management Corp.Income Statement for April 30, 2009 (cash basis)Current MonthYear-to-DateBudget vsBudget vsAnnual AmountBudgetActual $AmountBudgetActual $Budget

Taxes and Insurance

0.00 0 976.00 (24.00) 1,0000.00 1,000Income Taxes0.00 483 3,475.68 1,542.68 5,800(483.00) 1,933Insurance

Totals for Taxes and Insurance

4,451.68 2,933483(483.00) 6,8001,518.680.00

Recreation

0.00 63 0.00 (250.00) 750(63.00) 250Playground Equipment/Maintenanc

Totals for Recreation

0.00 25063(63.00) 750(250.00)0.00

Miscellaneous Expense

0.00 125 0.00 (500.00) 1,500(125.00) 500Bad Debt0.00 192 0.00 (767.00) 2,300(192.00) 767Community Action201.94 500 201.94 (1,798.06) 6,000(298.06) 2,000Newsletter 70.47 625 1,154.98 (1,345.02) 7,500(554.53) 2,500Postage82.25 667 3,318.89 651.89 8,000(584.75) 2,667Printing0.00 42 0.00 (167.00) 500(42.00) 167Rewards & Recognition9,392.80 4,829 19,263.20 (52.80) 57,9494,563.80 19,316Security0.00 500 0.00 (2,000.00) 6,000(500.00) 2,000Social0.00 83 143.95 (189.05) 1,000(83.00) 333Vandalism150.00 67 300.00 33.00 80083.00 267Website0.00 250 0.00 (1,000.00) 3,000(250.00) 1,000Welcome Committee

Totals for Miscellaneous Expense