TAOS PINES RANCH PROPERTY OWNERS ASSOCIATION

FINANCIAL REPORT

JULY 15, 2006

BALANCE FORWARDED (1/16/06): $ 3,666.19

INCOME: 265.00

3,931.19

EXPENSES:

Website Hosting 200.00

USPS Stamps 78.00

Annual Corp. Fee 10.00

Printing 25.00

Firewise Conference 250.00

Bank Fees Overstated ( 24.00)

539.00

Total Expenses (539.00)

BALANCE IN BANK: $ 3,392.19