National Capital Freenet													
Statement of Revenue, Expenses, and Surplus													
Period ended May 31, 1995													
						Actuals	Budget	Actuals	Budget
						May-95	May-95	YTD 95	YTD 95
Revenue													
	Donations				$18,822 $21,668 $88,521 $78,336 
	Government grants (1)			$20,000 $0 	$23,210 $0 
	Conference				$0 	$0 	$0 	$0 
	Fundraising				$2,100 	$25,189 $6,346 	$40,928 
	Deferred contributions			$0 	$0 	$5,535 	$2,756 
	Promotional items			$0 	$583 	$823 	$1,917 
	Public access cost recoveries		$0 	$0 	$530 	$0 
						-------	-------	-------	-------
		Total revenue			$40,922 $47,440 $124,965$123,937 
													
Expenses													
	Telecommunications			$4,998 	$6,240 	$29,673 $29,305 
	System administration			$5,327 	$4,201 	$25,016 $21,005 
	Conference				$0 	$0 	$0 	$0 
	Office staff and supplies		$2,463 	$2,610 	$12,761 $16,525 
	Depreciation				$0 	$0 	$12,645 $10,228 
	Administration and professional fees	$5,303 	$5,473 	$26,285	$28,616 
	Fundraising 				$5,006 	$4,507 	$19,862 $23,660 
	Costs of Grants				$0 	$0 	$2,675 	$0 
	Promotional items			$4,863 	$0 	$5,306 	$1,000 
	Public events				$48 	$83 	$399 	$417 
	Public access				$91 	$4,200 	$449 	$8,501 
						-------	-------	-------	-------
		Total expenses			$28,099 $27,315 $135,072$139,257 
										
						-------	-------	-------	-------			
Excess of revenue over expenses			$12,823 $20,124 ($10,106)($15,320)
													
													
													
Notes:													
	1) Municipal Grant in the Amount of $20,000 received from RMOC												
													
													
													
													
													
National Capital Freenet													
Balance Sheet													
As at May 31, 1995													
								Actuals	Budget
								May-95	May-95
Assets													
	Current assets												
		Cash						$56,075 $18,742 
		Other current assets (1)			$2,675 	$0 
								-------	-------	
								$58,750 $18,742 
													
	Capital equipment, net of depreciation												
		Computer Equipment				$75,421 $78,064 
		Systems software (2)				$36,909 $0 
		Telecommunications equipment			$83,753 $80,788 
		Business Equipment (3)				$0 	$4,800 
								-------	-------
								$196,083$163,652 
		Less accumulated depreciation			$57,179	$50,685 
								-------	-------
								$138,904$112,967 
								-------	-------	
	Total assets						$197,654$131,708 
													
													
Liabilities and Surplus													
	Accounts payable and accrued liabilities		$23,675 $3,892 
	Deferred contributions, net of amortization (4)		$62,136 $24,108 
	Surplus							$111,843$103,709 
								-------	-------					
	Total liabilities and surplus				$197,654$131,708 

													
Notes													
	1) Other Current Assets includes amounts owed by Industry Canada.												
	2) Systems Software relates to unbudgeted Oracle software contribution.												
	3) Budgeted Business Equipment is related to equipment required for 
		relocation of office.												
	4) Deferred Contributions is greater than budget due the software 
		contribution by Oracle Canada in late 1994.												

--
Jeff Bossert, NCF Treasurer