TAOS PINES RANCH PROPERTY OWNERS ASSOCIATION

FINANCIAL REPORT

August 13, 2007

BALANCE FORWARDED (8/13/07): $ 2,870.36

INCOME: 1,320.00

4,190.36

EXPENSES:

Website Hosting 120.00

Stamps 25.63

Office Supplies 21.35

T-shirts 64.08

Bank Fees 18.00

Deposit Slips 4.00

253.06

Total Expenses (253.06)

BALANCE IN BANK: $ 3,937.30