Willow Pointe HOA, INC

Balance Sheet

July 31, 2008

ASSETS

Checking                   Prosperity                 $  7,955.39

Temp Transfer         Prosperity M/M        $20,000.00

Temp Transfer         Countrywide M/M   $50,000.00

Reserves

Prosperity M/M                                $ 29,137.53

Smith Barney                                                $ 80,205.72

GMAC CD                                        $ 60,000.00

Countrywide M/M                           $ 48,859.74

Total Assets                                                  $218,202.99

Accounts Receivable

2007 Owner Assessments              $     896.00

2008 Owner Assessments              $13,037.08

A/R Collection Fees                         $     560.00

A/R Lawn                                          $     130.00

A/R Late charges                             $     962.94

A/R Legal fees                                  $  5,746.00

A/R Opening balance                     $21,341.25

A/R Other                                         $     250.00

                                                                        $ 42,923.27

Total Assets                                                                                      $339,081.65

Total Assets                                                                                     $339,081.65

LIABILITIES AND MEMBER’S EQUITY

Current Liabilities

            Prepaid-HOA Fees              $    1,774.76

            Prepaid-Legal Fees              $       125.00               

            Total Liabilities                                                                    $   1,899.76

Reserves

            Beginning balance                           $198,471.02

            2008 Reserves                                   $   16,361.00

            Interest income                                $     4,372.88

            Capital Expenses                             $    -1,001.91

                        Total Reserves                                                          $218,202.99

Member Capital

Prior Years equity                                        $  68,527.66

Accrual basis equity                                                $  41,023.51

Total homeowners capital                            $109,551.17

YTD excess/deficit                                         $    9,427.73

Total member’s equity                                                                   $118,978.90

TOTAL LIABILITIES AND MEMBER’S EQUITY                     $339,081.65