National Capital FreeNet / Libertel de la Capitale nationale

Treasurer's Report

For the year 2008

I am pleased to report that fiscal 2008 was another successful year for the National Capital FreeNet. In order to maintain a high level of customer support and control a substantial growth in DSL service the organization reported a small deficit for the year. The number of DSL subscribers increased to over 2,000. The growth has been steady and it is anticipated that the growth will continue in 2009. The returns from the DSL have provided a solid income base for the organization which has allowed it to continue to provide the other services that the National Capital FreeNet has been know for since the early days of the internet. As the organization grows so do the demands for continued quality support to its services. This includes both requirements for staff to maintain timely and helpful customer support and hardware to ensure a reliable and efficient system. These requirements will continue to be a priority in 2009.

Over the past few years the organization has been able to build a healthy reserve fund (in excess of $90,000) which will enable it to move ahead and make the necessary investments for continued stability and growth. The staff, under the strong leadership from the Executive Director.s position, has managed to cope well with the growth and throughout 2008 was able to continue to provide the helpful and friendly local support that the members have grown to expect over the years.

It is very difficult to predict how the current economic environment will effect the operations of the National Capital FreeNet. There are many individuals and organizations struggling through these difficult economic times. I would however like to assure you that the National Capital FreeNet is in a very solid financial position and that we plan to maintain that stability through these tough times.

We would like to thank our members for their generous contributions in giving from both their time and financial resources. It is our hope that they will continue to support the organization as it manages the future challenges brought on by the changing economy and technological advances.

Alan McRae