LOOKOUT POINT CONDO ASSOCIATION INC  FINANCIAL STATEMENT

                       2008  EXPENSES |   EXPENSES 2009 BUDGET APPROVED
======================================|================================
BRIGHTHOUSE                   4720.64 |   4966  5% increase 
CITY OF COCOA                 1261.06 |   1261
COCOA BEACH                   4055.11 |   4055
FPL                            310.89 |    311
LAWN TECH                     4420.00 |   4420
SWAT EXTERMINATING             930.00 |    930
CITIZENS PROPERTY INS.       15091.20 |  15091
CNA SURETY INS.                101.00 |    101
FLORIDA INSURANCE CONCEPTS     938.99 |    939
STATE FARM FLOOD INS.         2482.00 |   2624  6% increase 
STATE FARM SPEC.PROD. INS.     850.42 |    850
MISC (*)                      2987.78 |   1000
REPAIR                         908.87 |   4000  includes Jan dock repair 2500
                            --------- |  -----
TOTAL EXPENSES 2008          39057.96 |  40548  TOTAL EXPENSES 2009
WACHOVIA PAID                 -820.20 |      0
                            --------- |  -----
TOTAL BANK AMERICA EXPENSES  38237.76 |  40548
                                      |
CHECKING BALANCE DEC 31 2007     0.00 |  13224  DEC 31 2008
TRANSFER FROM WACHOVIA       19964.10 |      0
DEPOSITS                     36497.21 |  35630  JAN-FEB fee=250/mo + MAR-DEC fee=275/mo
TRANSFER TO SAVINGS          -7500.00 |      0
TRANSFER FROM SAVINGS         2500.00 |      0
                            --------- |  -----
TOTAL FUNDS AVAIL 2008       51461.31 |  48854  2009
EXPENSES          2008      -38237.76 | -40548  2009
                            --------- |  -----
COMPUTED BALANCE DEC 31 2008 13223.55 |   8306  DEC 31 2009 (proposed)
ACTUAL BALANCE   DEC 31 2008 13223.55 |   8306  DEC 31 2009 (proposed)
ACTUAL SAVINGS   DEC 31 2008  5013.16 |   5026  DEC 31 2009 (proposed)
                             -------- |  -----
BALANCE+SAVINGS DEC 31 2008  18236.71 |  13332  DEC 31 2009 (proposed)
BALANCE+SAVINGS DEC 31 2007 -18354    | -18236  DEC 31 2008
                            ------    | ------ 
UNDERFUNDING    DEC 31 2008   -118    |  -4904  DEC 31 2009 (proposed)
===========================================================================

NOTED: 
Treasurer's recommended 01 March $50 fee increase plus a 01 May $500 
assessment producing a proposed budget OVERFUNDING of $3300 was rejected 
in favor of a 01 March $25 fee increase with a possible assessment at a later date.

Prepared by David Frank, Treasurer