THE LAUREN, A CONDOMINIUM Statements of Revenues, Expenses and Changes in Fund Balances For the Years Ended December 31, 2004 & 2003
			Operating   Fund	Replacement   Fund		2004   Total		2003 Total
Revenues:
Condominium fees			$ 649,848	$   146,184		$   796,032		$   761,721
Late fees and other income			2,331			2,331		7,988
In-unit service income			3,450			3,450		8,817
Move in/out income			2,825			2,825		3,225
Laundry income			19,472			19,472		19,276
Rental income			14,000			14,000		14,710
Parking income			8,315			8,315		8,210
Interest income			339	13,424		13,763		17,731
Total Revenues			$ 700,580	$   159,608		$   860,188		$   841,678
Expenses:
Payroll expense			$ 261,820	$		$   261,820		$   256,578
Payroll taxes and benefits			46,264			46,264		42,476
Engineer contract			12,681			12,681		20,412
Electricity			96,889			96,889		90,898
Gas			75,616			75,616		61,733
Telephone			3,541			3,541		3,291
Water and sewer			46,634	1,440		48,074		45,361
Management fee			6,372			6,372		6,180
Legal and audit			12,275			12,275		10,037
Insurance			47,623			47,623		45,658
Insurance loss deductible			4,040			4,040		3,467
Condo owned unit assessments			5,208			5,208		4,980
Administrative expenses			6,361			6,361		2,882
Bad debt (recovery)								418
Postage and printing			1,164			1,164		766
Real estate taxes			1,808			1,808		1,376
Communications repairs			2,639			2,639		3,014
Elevator contract and maintenance			12,837			12,837		14,400
HVAC contract and maintenance			7,424			7,424		7,248
Laundry contract			3,134			3,134		3,134
Trash removal and extermination			10,240			10,240		9,952
									(Continued)
		See Notes to Financial Statements page 3

THE LAUREN, A CONDOMINIUM
Statements of Revenues, Expenses and Changes in Fund Balances (Continued) For the Years Ended December 31, 2004 & 2003
			Operating   Fund	Replacement   Fund		2004   Total		2003 Total
Expenses (Continued)
Pool contract and supplies			$   3,381	$		$   3,381		$   3,330
Supplies			12,958			12,958		11,206
General repairs and maintenance			14,604			14,604		22,174
Mortgage interest expense								1,812
Depreciation			2,179			2,179		2,179
Income taxes			9,561			9,561		5,341
Heating/cooling				21,285		21,285		19,935
Roof								36,056
Roof garden restoration/upgrade				26,100		26,100		6,991
Roof garden security								4,390
ADA modifications				3,000		3,000		30,027
Additional capital expenses								4,082
Boiler								6,296
Electrical switchboard								3,653
Laundry room				3,700		3,700
Electrical wiring study								2,448
Reserve study								2,400
Total Expenses			$ 707,253	$   55,525		$   762,778		$   796,581
Excess (Deficiency) of Revenues over Expenses			$   (6,673)	$ 104,083		$   97,410		$   45,097
Beginning Fund Balances			90,010	532,770		622,780		577,683
Ending Fund Balances			$   83,337	$ 636,853		$   720,190		$   622,780
	See Notes to Financial Statements page 4