THE GLEN OF PACIFIC GROVE HOMEOWNERS ASSOCIATION

PAGE 1                                          08:45:05 15 Sep 2004

THE GLEN OF PACIFIC GROVE HOA
BALANCE SHEET
As of August 31, 2004

ASSETS

CURRENT ASSETS

1007    CHECKING-UNION BANK          17,195.25
1008    CHECKING - SJNB              60,672.80     77,868.05

RESERVE SAVINGS

1023    RESERVE UNION BANK OF CAL    75,786.93
1025    WASHINGTON MUTUAL            53,556.82
1026    WORLD SAVINGS                96,956.09    226,299.84

CURRENT OTHER ASSETS
           0.00

1150    ACCT/RECEIVABLE               1,429.50
1152    INTEREST REC. - DUES              6.76
1154    LATE CHGS. - REC                 98.00
1157    SPECIAL ASSESSMENT RECEIVAB    -147.00      1,387.00

1185    DUE TO RESERVES FROM OPERAT  24,357.16     24,357.16
TOTAL ASSETS                                                    329,912.31


CURRENT LAIBILITIES

2002    PREPAID ASSESSMENTS           7,563.00
2030    LATE CHARGES DUE MCC            318.50
2040    PROCESSING CHARGES DUE MCC      175.00
2095    DUE FROM OPERATING TO RESER  24,357.16     32,413.66

RESERVES

3710    RESERVES                    306,754.48    306,754.48

EQUITY
    RET . - EARNING-BEG YEAR        -37,323.31
    NET INCREASE, DECREASE-YTD       28,067.48     -9,255.83
TOTAL LIABILITIES, RESERVES AND EQUITY                          329,912.31