MCSHOA SUMMARY
RESULTS FOR DECEMBER 1, 2002 - DECEMBER 31, 2002
CHECKING ACCOUNT				12/31/2002		YTD
BEGINNING BAL, CHECKING				$  27,377.71		$  23,160.46
EXPENSES
	Lighting, Repairs/Electricity (repair front light)			184.14		374.26			374.26
	Insurance ('03 insurance)			732.00		2,413.00			2,413.00
	Commons Maint.			375.00		8,798.90			8,798.90
	Misc. Expense			0.00		51.36			51.36
	Office Expense (subscription, copies, stamps)			342.49		1,240.55			1,240.55
	Transfer to CARF			0.00		2,000.00
	Annual Meeting/Events			0.00		172.43			172.43
	Fees, Dues			0.00		745.00			745.00
	Taxes			0.00		371.00
	Tree Rebate			0.00		30.00			30.00
	Tree Removal			0.00		95.00			95.00
TOTAL EXPENSES				1,633.63		16,291.50			13,920.50
INCOME
	Transfer from CARF			0.00		2,422.40
	Dues -			0.00		15,680.96			15,680.96
	Dividends			10.44		282.20			371.26
	Disclosure Packets			50.00		550.00			550.00
TOTAL INCOME				60.44		18,935.56			16,602.22
NET CHANGE				(1,573.19)		2,644.06			2,681.72
ENDING BAL., CHECKING				$  25,804.52		$  25,804.52			$       2,681.72
COMMON AREA RESERVE FUND ("CARF")				12/31/2002		YTD			YTD
BEGINNING BAL., CARF				$    9,524.77		$    9,863.30			$                 -
ACTIVITY
	Dividends			5.19		89.06			89.06
	Transfer to/(from) CARF			0.00		(422.40)			(422.40)
NET CHANGE				5.19		(333.34)			(333.34)
ENDING BAL., CARF				$    9,529.96		$    9,529.96			$        (333.34)
											Double-check
											ERROR