TAOS PINES RANCH PROPERTY OWNERS ASSOCIATION

FINANCIAL REPORT

JANUARY 16, 2006

BALANCE FORWARDED: $ 3,415.19

INCOME: 500.00

3,915.S9

EXPENSES:

Website Hosting 80.00

USPS Stamps 111.00

USPS Box Fee 24.00

Printing 10.00

Bank Fees 24.00

Total Expenses 249.00

BALANCE IN BANK: $ 3,666.19