(Scanned Copy)
	THE LAUREN, A CONDOMINIUM Balance Sheets December 31, 2004 & 2003
			Operating   Fund	Replacement   Fund			2004   Total	2003 Total
			ASSETS
Assets:
Cash and cash equivalents			$   118,862	$ 121,665			$ 240,527	$ 143,723
Investments				505,923			505,923	490,832
Assessments receivable			5,520				5,520	4,328
Accounts receivable - other								2,600
Accrued interest receivable				6,547			6,547	8,263
Prepaid expenses			14,435				14,435	11,477
Due from operating fund				15,418			15,418	23,263
Land			8,006				8,006	8,006
Association owned unit			47,482				47,482	47,482
Office equipment			44,182				44,182	44,182
Less accumulated depreciation			(87,697)				(87,697)	(85,518)
TOTAL ASSETS			150,790	649,553			800,343	$ 698,638
LIABILITIES AND FUND BALANCES
Liabilities:
Accounts payable			$   29,382	$   12,700			$   42,082	$   30,859
Accrued payroll and taxes			3,790				3,790	10,244
Prepaid assessments			5,110				5,110	3,776
Income taxes payable			6,070				6,070	1,083
Security and key deposit liability			7,683				7,683	6,633
Due to replacement fund			15,418				15,418	23,263
Total Liabilities			$   67,453	$   12,700			$   80,153	$   75,858
Fund Balances:			83,337	636,853			720,190	622,780
TOTAL LIABILITIES AND FUND BALANCES			$ 150,790	$ 649,553			$ 800,343	$ 698,638
		See Notes to Financial Statements page 2