For Year 2005
This year has been a challenging one for the NCF as we changed the focus of the organization and looked to see how we could develop our services into the future.
This naturally had an effect on our finances. The organization decided that it could not continue to rely on special government projects to supply it with revenue. Such projects often were not profitable per se, but they did allow us to pay for some overheads and staff costs, and also to develop software products that we could use ourselves. However they are often take a considerable amount of time and effort, resources that the Board felt could be better utilized elsewhere.
With the loss of this cash flow, the finances of NCF became very stretched, particularly over the summer which is our traditionally slow period. However in the fall we launched our DSL service, and this has three impacts financially:
The Freenet has now weathered its financial storm and we expect to generate a profit in the next fiscal year. Although we are a not-for-profit body, we need surpluses to enable us to invest in hardware and software to continue to offer the Ottawa community a set of services that is the equal of any of the mainstream commercial providers. The Board looks forward to establishing a solid financial basis that will allow us to fulfil some of our future plans
W. Michael Fletcher CGA