National Capital Freenet													
Statement of Revenue, Expenses, and Surplus													
Period ended Oct 31, 1996	
					Actuals	Budget	FC 	Actuals	Budget
					Oct-96	Oct-96	Oct-96	YTD1996 YTD1996
Revenue													
	Donations (1)			$4,809 	$22,000 $7,600 	$74,614 $210,000 
	Government grants (2)		$15,000 $0 	$15,000 $28,000 $60,000 
	Fundraising (3)			$22,956 $29,100 $14,900 $80,616 $103,200 
	Deferred contributions		$0 	$0 	$0 	$21,104 $25,006 
	Promotional items 		$365 	$0 	$0 	$3,706 	$3,000 
	Public access & and other rev.	$0 	$0 	$0 	$1,070 	$0 
		Total revenue		$43,129 $51,100 $37,500 $209,110$401,206 
													
													
Expenses													
	Telecommunications (4)		$7,127 	$12,646 $5,725 	$57,886 $108,014 
	System administration		$6,343  $6,424 	$5,961 	$68,401 $68,858 
	Office staff and supplies	$3,565 	$4,636 	$3,637 	$27,096 $36,765 
	Volunteer Coordination		$0 	$1,675 	$50 	$8,861 	$16,750 
	Administration and prof. fees	$5,883 	$6,305 	$5,880 	$59,128 $62,850 
	Fundraising (5)			$3,696 	$4,298 	$3,857 	$32,608 $42,854 
	Costs of Grants			$0 	$0 	$0 	$0 	$10,000 
	Promotional items		$86 	$0 	$0 	$115 	$300 
	Depreciation			$0 	$0 	$0 	$49,277 $59,711 
	Public events			$0 	$100 	$0 	$217 	$1,200 
	Public access			$0 	$0 	$0 	$0 	$0 
		Total expenses		$26,700 $36,084 $25,111 $303,590$407,302 
													
Excess of revenue over expenses		$16,430 $15,016 $12,389 (94,481)(6,096)
	Surplus, beginning of period	$61,827 $146,626$61,827 $172,738$167,738 
													
Surplus, end of period			$78,257 $161,642$74,216 $78,257 $161,642 
													
													
	1) Donations were slightly cannabalized by the fundraising events in 
		comparison to forecast												
	2) Final ONIP payment received October 96, this concludes this contract.												
	3) Much of the fundraising results are from the on-line Equipment Challenge 
		Drive												
	4) Telecomm is higher than forecast due to taxes assessed on ONET fees												
	5) All costs for the year for fundraiser contracts have now been recognized.												
													
												
													
National Capital Freenet													
Balance Sheet													
For the period ended Oct 31, 1996	
						Actuals	FC	Budget
						Oct-96	Oct-96	Oct-96
Assets													
	Cash (6)				$30,173 $28,609 $37,713 
	Other current assets 			$308 	$308 	$871 
						$30,480 $28,917 $38,584 
	Capital equipment (7)									
		Computer equipment		$122,780$122,780$147,830 
		Systems software		$43,784 $43,784 $46,909 
		Telecommunications equipment	$112,508$112,508$118,353 
		Business equipment		$6,033 	$6,033 	$41,533 
						$285,105$285,105$354,625 
		Less accumulated depreciation	$148,488$148,488$158,922 
						$136,617$136,617$195,703 
													
	Total assets				$167,097$165,534$234,287 
													
													
													
Liabilities and Surplus													
	Accounts pay. and accrued liab. (8)	$26,783 $29,260 (3,530)
													
	Deferred contributions, net of amort.	$62,057 $62,057 $76,175 
													
	Surplus					$78,257 $74,216 $161,642 
													
	Total liabilities and surplus		$167,097$165,534$234,287 
													
													
	(6) Cash is being conserved pending increased funding - see also accounts 
		payable												
	(7) Purchases of Computer and Terminal Server-$15K has been accrued for 
		and not yet paid for these.												
	(8) Accounts Payable and Accrued liabilities include the following major 
		items												
			Incidental costs (Carleton University)		$1,000 						
			Equipment (Carleton University)			$15,000 						
			System Administration (I. Allen)		$3,500 						
			Telecomm Lines (Bell Canada)			$4,000 						
			Audit Fees accrued (KPMG)			$3,300 						
		NOTE: Current Cash levels ARE sufficient to cover these liabilities											
													
												
													
National Capital Freenet													
Statement of Changes in Financial Position													
For the period ended Oct 31, 1996	
												
					Actuals	Budget	FC	Actuals	Budget
					Oct-96	Oct-96	Oct-96	YTD1996	YTD1996
Operating activities													
	Excess of revenue over expenses	$16,430 $15,016 $12,389 (94,481)(6,096)
	Items not involving cash:												
		Deferred contributions	$0 	$0 	$0 	(21,104)(25,006)
		Depreciation		$0 	$0 	$0 	$49,277 $59,711 
	Net change in non-cash work cap												
		Acc Rec & Prepaid Exp.	$130 	$130 	$130 	$5,293 	(270)
		Acc Pay & accrued liab.	(12,274)$330 	(9,797)	$10,302 (20,010)
		Cash provided by ops.	$4,286  $15,476 $2,722 	(50,712)$8,329 
													
Investing activities													
	Purchase of equipment for cash	$0 	$10,000 $0 	$15,000 $66,500 
		Cash applied to invest. $0 	$10,000 $0 	$15,000 $66,500 
													
Increase in cash during the period	$4,286 	$5,476 	$2,722 	(65,712)(58,171)
Cash, beginning of period		$25,887 $32,237 $25,887 $95,885 $95,884 
													
Cash, end of period			$30,173 $37,713 $28,609 $30,173 $37,713 
													
													
													
													
 

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