For the year ending
For the year ending December 31, 2014 National Capital FreeNet is reporting a surplus of $78,734. This surplus when combined with our unrestricted reserve fund from previous years provides for a current unrestricted reserve fund balance of $349,516. For many reasons it is prudent for a not for profit organization like NCF to have a healthy reserve fund. Most importantly it provides stability in that the organization can operate knowing that if there are short term events that will have a negative impact on the organizations finances, the organization does not need to overreact and make changes that could further worsen the situation. If needed the reserve funds can be used to maintain normal operations ensuring member service levels are maintained and infrastructure remains intact. A healthy reserve allows NCF to hold off on pricing increases until they are deemed necessary, even if it means creating short term deficits. A healthy reserve allows for investing in hardware and software before performance issues force upgrades and it allows the organization to invest in new programs and services that will benefit our membership. Be assured that the Board is monitoring this reserve very closely and will continue to do what is best for NCF and its members.
In 2015 National Capital Freenet will again face similar challenges as 2014, including balancing pricing with the demands of member's use of bandwidth, with increasing membership in DSL, and with managing the infrastructure to support all the changes.
This will be my last report as Treasurer for NCF and I would like to make it very clear that the positive results for the organization are a result of the incredible support from the dedicated members and volunteers as well as the hard work of the NCF staff. The commitment from the past and current members of the Board of Directors has been critical in steering the organization through all the challenges and it is hoped that the current openings in the Board will be filled with the same level of commitment.
I would like to thank you all for making this role a pleasure to have been in and wish NCF continued success.