MCSHOA SUMMARY
RESULTS FOR MARCH 1, 2003 - MARCH 31, 2003
CHECKING ACCOUNT				3/31/2003		YTD
BEGINNING BAL, CHECKING				$  25,187.19		$  25,804.52
EXPENSES
	Lighting, Repairs/Electricity (2 months)			18.10		18.10
	Insurance			0.00		0.00
	Commons Maint. (mailbox paint, primer, trail sign)			123.21		673.21
	Misc. Expense			0.00		0.00
	Office Expense (2 months minutes, annual meeting ballots)			201.49		282.89
	Transfer to CARF			0.00		10,289.00
	Annual Meeting/Events (space for annual meeting)			44.50		44.50
	Fees, Dues (CAI membership)			275.00		275.00
	Taxes ($81 IRS, $22 VA)			103.00		103.00
	Tree Rebate			0.00		0.00
	Tree Removal			0.00		0.00
TOTAL EXPENSES				765.30		11,685.70
INCOME
	Transfer from CARF			0.00		0.00
	Dues -			4,134.00		14,373.00
	Dividends			7.04		21.11
	Disclosure Packets			50.00		100.00
TOTAL INCOME				4,191.04		14,494.11
NET CHANGE				3,425.74		2,808.41
ENDING BAL., CHECKING				$  28,612.93		$  28,612.93
COMMON AREA RESERVE FUND ("CARF")				3/31/2003		YTD
BEGINNING BAL., CARF				$  19,830.37		$    9,529.96
ACTIVITY
	Dividends			6.02		17.43
	Transfer from CARF			0.00		10,289.00
NET CHANGE				6.02		10,306.43
ENDING BAL., CARF				$  19,836.39		$  19,836.39