Financial Report for March Board Meeting

The two year term for our prior Treaurer, Jean Wilmot, has expired and she
is no longer acting in this capacity.  Therefore, the financial statements
for this month were prepared by our NCF Accountant, Rudy Wytenburg. 

There are no attatched notes for these documents but Lisa Donnelly and
Gordon Pearson will be available to answer any questions regarding the
financial statements.

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National Capital FreeNet
Statement of Revenue, Expenses and Surplus
Period ended 28 February 1995

					Actuals		Budget
					YTD 1995	YTD 1995

Revenue
  Donations				$35,881		$23,333
  Government grants			 $2,675		     $0
  Conference				     $0		     $0
  Fundraising				 $1,446  	 $6,533
  Deferred contributions		     $0		     $0
  Promotional items			   $796		   $667
  Public access cost recoveries		   $530		     $0
					-------		-------
    Total revenue			$41,328		$30,533
					-------		-------

Expenses
  Telecommunications			$16,768		$11,918
  System administration			$10,162		 $8,402
  Conference				     $0		     $0
  Office staff and supplies		 $5,332		 $7,445
  Depreciation				     $0		     $0
  Administration and professional fees	$10,743		$11,071
  Fundraising				 $8,921		 $9,514
  Costs of grants			 $2,675     	     $0
  Promotional items			    $45		   $500
  Public events				   $331		   $167
  Public access				   $177		    $67
					-------		-------
    Total expenses			$55,154		$49,083

Excess of Revenue over expenses		---------	---------
					($13,826)	($18,550)
					---------	---------
					---------	---------

National Capital FreeNet
Balance Sheet
As of 28 February 1995

					Actuals		Budget
					Feb-95		Feb-95

Assets
  Current assets
    Cash				$27,366		$16,912
    Other current assets		$30,350		     $0
					-------		-------
					$57,716		$16,912

  Capital equipment,net of depreciation	
    Computer equipment			$75,421		$78,064
    Systems software			$36,909		     $0
    Telecommunications equipment	$83,753		$80,788
    Business equipment			     $0		 $4,800
					-------		-------
				       $196,083	       $163,652

    Less accumulated depreciation	$44,534		$40,457
					--------       --------
				       $151,549	       $123,195

				       --------	       --------
Total Assets			       $209,265	       $140,107
				       --------	       --------

Liabilities and Surplus
  Accounts payable and 
	accrued liabilities		$33,471		$13,264

  Deferred contributions, 
	net of amortization		$67,671		$26,864

  Surplus			       $108,123	        $99,979
				       --------	       --------
Total Liabilities and surplus	       $209,265	       $140,107
				       --------	       --------
				       --------        --------
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