MCSHOA SUMMARY
RESULTS FOR MAY 1, 2003 - MAY 31, 2003
CHECKING ACCOUNT				5/31/2003		YTD
BEGINNING BAL, CHECKING				$  38,908.61		$  25,804.52
EXPENSES
	Lighting, Repairs/Electricity (2 months)			11.93		30.03
	Insurance			949.00		949.00
	Commons Maint. (mailbox paint, primer, trail sign)			602.57		1,275.78
	Misc. Expense			0.00		0.00
	Office Expense			84.73		367.62
	Transfer to CARF			0.00		0.00
	Annual Meeting/Events			0.00		44.50
	Fees, Dues			0.00		275.00
	Taxes			0.00		103.00
	Tree Rebate			0.00		0.00
	Tree Removal			1,390.00		1,390.00
TOTAL EXPENSES				3,038.23		4,434.93
INCOME
	Transfer from CARF			0.00		0.00
	Dues -			0.00		14,373.00
	Dividends			0.00		27.79
	Disclosure Packets			0.00		100.00
TOTAL INCOME				0.00		14,500.79
NET CHANGE				(3,038.23)		10,065.86
ENDING BAL., CHECKING				$  35,870.38		$  35,870.38
COMMON AREA RESERVE FUND ("CARF")				5/31/2003		YTD
BEGINNING BAL., CARF				$    9,550.73		$    9,529.96
ACTIVITY
	Dividends			0.00		20.77
	Transfer from CARF			0.00		0.00
NET CHANGE				0.00		20.77
ENDING BAL., CARF				$    9,550.73		$    9,550.73
TOTAL FUNDS				$  45,421.11		$  45,421.11