National Capital Freenet													
Statement of Revenue, Expenses, and Surplus													
Period ended July 31, 1996	

					Actuals	Budget	Actuals	Budget
					Jul-96	Jul-96	YTD 1996YTD 1996
Revenue													
	Donations (1)			$6,383 	$19,000 $59,943 $148,500 
	Government grants (2)		$0 	$15,000 $13,000 $40,000 
	Fundraising (3)			$700 	$6,400 	$41,038 $50,300 
	Deferred contributions		$0 	$0 	$12,220 $15,921 
	Promotional items 		$498 	$0 	$3,060 	$3,000 
	Public access 			$0 	$0 	$1,070 	$0 
		Total revenue		$7,582 	$40,400 $130,331$257,721 
													
													
Expenses													
	Telecommunications (4)		$5,567 	$12,646 $39,335 $70,077 
	System administration		$3,003 	$6,424 	$46,341 $49,585 
	Office staff and supplies	$2,708 	$5,397 	$18,346 $22,731 
	Volunteer Coordination		$1,083 	$1,675 	$8,218 	$11,725 
	Administration and prof. fees	$6,543 	$6,305 	$41,383 $43,935 
	Fundraising 			$2,736 	$5,884 	$21,542 $29,300 
	Costs of Grants			$0 	$0 	$0 	$10,000 
	Promotional items		$0 	$0 	$29 	$300 
	Depreciation			$0 	$0 	$30,066 $38,172 
	Public events			$0 	$100 	$217 	$900 
	Public access			$0 	$0 	$0 	$0 
		Total expenses		$21,640 $38,430 $205,479$276,725 
													
Excess of revenue over expenses		(14,058)$1,970 	(75,148)(19,004)
	Surplus, beginning of period	$111,648$146,764$172,738$167,738 
													
Surplus, end of period			$97,590 $148,734$97,590 $148,734 
													
													
	1) Budget includes $12K new registrant donations, $4K in renewals, 
		$3K Showcase Donations 												
	2) Budget of $15K is final ONIP Grant, Submission has been 
		completed, payment expected in Aug-Sept 96												
	3) Actual includes PFA drive, Budget includes $3K from PFA's (YTD 
		Actual $18K, YTD Budget $37K)												
	4) Budget includes expansion of number of dial-up lines.												
													
																								
													
National Capital Freenet													
Balance Sheet													
For the period ended July 31, 1996	

							Actuals	Budget
							Jul-96	Jul-96
Assets													
	Cash						$36,574 $21,582 
	Other current assets 				$698 	$650 
							$37,271 $22,232 
	Capital equipment (5)												
		Computer equipment			$113,830$137,830 
		Systems software			$36,909 $46,909 
		Telecommunications equipment		$83,753 $118,353 
		Business equipment			$6,033 	$41,533 
							$240,525$344,625 
		Less accumulated depreciation		$129,277$137,383 
							$111,248$207,242 
													
	Total assets					$148,519$229,474 
													
													
													
Liabilities and Surplus													
	Accounts payable and accrued liabilities (6)	$9,568 	($4,520)
											
	Deferred contributions, net of amortization	$41,361 $85,260 
													
	Surplus						$97,590 $148,734 
													
	Total liabilities and surplus			$148,519$229,474 
												
													
													
	(5) No significant purchases of equipment have been made during 
		the year.												
	(6) Accrued liabilities includes audit $2.3K, ONET fees $4.8K 												
													
													
													
													
													
													
													
National Capital Freenet													
Statement of Changes in Financial Position													
For the period ended July 31, 1996													
					Actuals	Budget	Actuals	Budget
					Jul-96	Jul-96	YTD1996	YTD1996
Operating activities													
	Excess of revenue over exp.	(14,058)$1,970  (75,148)(19,004)
	Items not involving cash:												
		Deferred contributions	$0 	$0 	(12,220)(15,921)
		Depreciation		$0 	$0 	$30,066 $38,172 
	Net change in non-cash working capital items												
		AccRec. & Prep. Exp.	$130 	$130 	$4,903 	($49)
		AccPay & accrued liab.	$1,924 	$330 	(6,912)	(21,000)
		Cash prov by (used) ops.(12,005)$2,430 	(59,311)(17,802)
													
Investing activities													
	Purchase of equipment for cash	$0 	$12,500 $0 	$56,500 
		Cash applied to invest.	$0 	$12,500 $0 	$56,500 
													
Increase in cash during the period	(12,005)(10,070)(59,311)(74,302)
Cash, beginning of period		$48,579 $31,652 $95,885 $95,884 
													
Cash, end of period			$36,574 $21,582 $36,574 $21,582 

--
Jeff Bossert (bossert@freenet.carleton.ca)
:
Treasurer and Director, National Capital FreeNet
Senior Engineer, Comgate Engineering