National Capital Freenet
Statement of Revenue, Expenses, and Surplus
Period ended May 31, 1996			
					Actuals	Budget	Actuals	Budget
					May-96	May-96	YTD1996	YTD1996
Revenue
	Donations (1)			$5,875 	$18,500 $46,408 $112,500 
	Government grants (2)		$3,000 	$0 	$13,000 $25,000 
	Fundraising (3)			$9,992 	$4,400 	$38,788 $38,500 
	Deferred contributions		$0 	$0 	$6,110 	$7,960 
	Promotional items 		$450 	$500 	$2,440 	$2,500 
	Public access and other rev.	$0 	$0 	$1,070 	$0 
		Total revenue		$19,317 $23,400 $107,816$186,460 


Expenses
	Telecommunications (4)		$5,315 	$12,646 $27,852 $44,785 
	System administration		$5,443 	$6,424 	$35,829 $36,737 
	Office staff and supplies	$2,458 	$2,687 	$12,915 $13,072 
	Volunteer Coordination		$1,294 	$1,675 	$5,861 	$8,375 
	Administration and prof. fees	$6,517 	$6,305 	$27,611 $31,325 
	Fundraising 			$3,394 	$3,156 	$16,840 $20,270 
	Costs of Grants			$0 	$0 	$0 	$10,000 
	Promotional items		$0 	$50 	$29 	$250 
	Depreciation			$0 	$0 	$15,033 $18,539 
	Public events			$0 	$100 	$217 	$700 
	Public access			$0 	$0 	$0 	$0 
		Total expenses		$24,422 $33,043 $142,188$184,053 

Excess of revenue over expenses		($5,105)($9,643)($34,371)$2,407 
	Surplus, beginning of period	$143,471$179,788$172,738$167,738 

Surplus, end of period			$138,366$170,145$138,366$170,145 


	1) Budget includes $13.5K new registrant donations, $3K Showcase 
		Donations
	2) Grant received with respect to community calendar project
	3) Actual includes results of the PFA drive, Budget includes $3K 
		from PFA's
	4) Budget includes expansion of number of dial-up lines.


National Capital Freenet
Balance Sheet
For the period ended May 31, 1996
							Actuals	Budget
							May-96	May-96
Assets
	Cash						$67,885 $50,401 
	Other current assets 				$958 	$910 
							$68,843 $51,311 
	Capital equipment
		Computer equipment			$113,830$132,830 
		Systems software			$36,909 $44,409 
		Telecommunications equipment		$83,753 $118,353 
		Business equipment			$6,033 	$11,033 
							$240,525$306,625 
		Less accumulated depreciation		$114,244$117,750 
							$126,281$188,875 

	Total assets					$195,123$240,186 


Liabilities and Surplus
	Accounts payable and accrued liabilities (5)	$9,286 	($5,180)

	Deferred contributions, net of amortization	$47,471 $75,221 

	Surplus						$138,366$170,145 

	Total liabilities and surplus			$195,123$240,186 


	(5) Accrued liabilities includes audit $1.6K, $1.6 ONET fees


--
Jeff Bossert (bossert@freenet.carleton.ca)

Treasurer and Director, National Capital FreeNet
President, Softgate