Statement of Revenue, Expenses, and Surplus													
Period ended February 29, 1996		Actuals	Budget	Actuals	Budget
					Feb-96	Feb-96	YTD1996	YTD1996
Revenue					
	Donations (1)			$11,903 $23,500 $25,868 $47,000 
	Government grants		$0 	$0 	$0 	$0 
	Fundraising (2)			$3,250 	$8,400 	$5,034 	$17,300 
	Deferred contributions		$0 	$0 	$0 	$0 
	Promotional items 		$666 	$500 	$1,393 	$1,000 
	Public access cost recoveries	$0 	$0 	$0 	$0 
		Total revenue		$15,818 $32,400 $32,294 $65,300 
													
													
Expenses													
	Telecommunications (3)		$5,521 	$10,590 $11,001 $16,324 
	System administration		$7,830 	$7,578 	$17,155 $15,156 
	Office staff and supplies	$2,368 	$2,565 	$5,316 	$5,130 
	Volunteer Coordination		$1,388 	$1,675 	$1,888 	$3,350 
	Administration and prof. fees	$5,647 	$6,255 	$11,899 $12,510 
	Fundraising 			$2,937 	$3,956 	$5,798 	$8,402 
	Costs of Grants			$0 	$0 	$0 	$0 
	Promotional items		$0 	$50 	$29 	$100 
	Depreciation			$0 	$0 	$0 	$0 
	Public events			$217 	$300 	$217 	$400 
	Public access			$0 	$0 	$0 	$0 
		Total expenses		$25,907 $32,969 $53,303 $61,373 
													
Excess of revenue over expenses		($10,089)($569)	($21,009)$3,927 
	Surplus, beginning of period	$161,818$172,234$172,738$167,738 
													
Surplus, end of period			$151,729$171,665$151,729$171,665 
													
													
	1) Budget includes $15K new registrant donations, $3K Showcase 
		Donations and $4.7K Gold Key Donations												
	2) Budget includes $7K from personaized ID's from new & used 
		registrants												
	3) Budget includes expansion of number of dial-up lines.												
													
	
													
													
National Capital Freenet													
Balance Sheet													
For the period ended February 29, 1996			Actuals	Budget
							Feb-96	Feb-96
Assets													
	Cash						$74,526 $54,881 
	Other current assets (4)			$5,341 	$341 
							$79,867 $55,222 
	Capital equipment												
		Computer equipment (5)			$113,830$122,830 
		Systems software			$36,909 $44,409 
		Telecommunications equipment (6)	$83,753 $118,353 
		Business equipment			$6,033 	$11,033 
							$240,525$296,625 
		Less accumulated depreciation		$99,211 $99,211 
							$141,314$197,414 
													
	Total assets					$221,180$252,636 
													
													
													
Liabilities and Surplus													
	Accounts payable and accrued liabilities (7)	$15,871 ($2,210)
													
	Deferred contributions, net of amortization (6)	$53,581 $83,181 
													
	Surplus						$151,729$171,665 
													
	Total liabilities and surplus			$221,180$252,636 
		

											
	(4) Accounts receivable includes $5,000 from RMOC under the 
		Challenge Grant												
	(5) Budget includes network cards for connecting Sun to ethernet 
		switch $4K												
	(6) Budget includeds purchase of terminal server $5K, donation 
		of ethernet switch $10K												
	(7) Accrued liabilities includes ONET $6.5K, 1995 audit $4.0K, 
		1996 audit $0.7K												
													
													
													
													
													
													

--
Jeff Bossert

Treasurer, and Board Member, National Capital FreeNet
President, Softgate