National Capital Freenet													
Statement of Revenue, Expenses, and Surplus													
Period ended as stated	

						Actuals	Budget	Actuals	Budget
						Mar-97	Mar-97	YTD1997	YTD1997
Revenue													
	Donations from members												
		Associated with registration	$5,493 	$6,000 	$18,173 $18,000 
		Associated with renewals	$31,428	$31,000	$89,006	$93,000 
			Total member donations	$36,920 $37,000 107,179	$111,000 
													
	Fundraising Activities												
		Line Sponsorships (1)		$0 	$1,600 	$0 	$4,800 
		Corporate donations		$0 	$0 	$0 	$0 
		Auctions			$0 	$0 	$786 	$0 
		Sale of promotional items 	$138 	$0 	$315 	$0 
		Other activities		$0 	$0 	$0 	$0 
			Total fundraising 	$138 	$1,600 	$1,101 	$4,800 
													
	Government grants 			$0 	$0 	$0 	$0 
	Other revenues				$0 	$0 	$0 	$0 
	Deferred contributions			$7,231 	$7,959 	$7,231 	$7,959 
		Total revenue			$44,289 $46,559 $115,511$123,759 
													
													
Expenses													
	System access telecommunications	$5,721 	$5,819 	$17,218	$17,456 
	System administration (2)		$3,736 	$5,349 	$9,246 	$16,048 
	Office staff and supplies		$3,401 	$2,878 	$10,116	$8,633 
	Volunteer Coordination			$0 	$50 	$7 	$150 
	Administration and professional fees	$6,365 	$5,805 	$16,827 $17,415 
	Fundraising and promotional costs	$0 	$0 	$4 	$0 
	Public events and access		$0 	$0 	$480 	$0 
	Costs of Grants				$0 	$0 	$0 	$0 
	Depreciation				$17,197	$18,007	$17,197	$18,007 
		Total expenses			$36,419 $37,907 $71,094 $77,708 
													
Excess of revenue over expenses			$7,870 	$8,652 	$44,417 $46,051 
	Surplus, beginning of period		$110,178$93,579	$73,631	$56,180 
													
Surplus, end of period				$118,047$102,231$118,047$102,231 
																								
Notes:											
1.	Approx. 6 invoices for line sponsorship renewals are currently 
outstanding.								
2.	Budget assumes full-time Junior System Administrator and 3/4-time 
Senior System Administrator.								
													

													
National Capital Freenet													
Balance Sheet													
For the period ended as stated	

								Actuals	Budget
								Mar-97	Mar-97
Assets													
	Cash							$72,594 $55,976 
	Other current assets					$0 	$1,500 
								$72,594	$57,476 
	Capital equipment												
		Computer equipment				$123,517$122,780 
		Systems software				$43,784 $43,784 
		Telecommunications equipment			$112,976$112,508 
		Business equipment (3)				$6,533 	$9,033 
								$286,810$288,105 
		Less accumulated depreciation			$182,325$184,376 
								$104,485$103,729 
													
	Total assets						$177,079$161,204 
													
													
													
Liabilities and Surplus													
	Accounts payable and accrued liabilities		$11,241 $12,835 
													
	Deferred contributions, net of amortization		$47,791 $46,139 
													
	Surplus							$118,047$102,231 
													
	Total liabilities and surplus				$177,079$161,204 
	
												
Notes:									
3.	Budgetted purchase of Office Computer Equip. ($2,000) in Jan 97 has
been deferred.						
		
																						
													
National Capital Freenet													
Statement of Changes in Financial Position													
For the period ended as stated		

						Actuals	Budget	Actuals	Budget
						Mar-97	Mar-97	YTD1997	YTD1997
Operating activities													
	Excess of revenue over expenses		$7,870 	$8,652 	$44,417 $46,051 
	Items not involving cash:											
		Deferred contributions		($7,231)($7,959)($7,231)($7,959)
		Depreciation			$17,197 $18,007 $17,197 $18,007 
													
	Net change in non-cash working capital items												
		Acc Rec & Prepaid Expenses	$84 	($1,400)$252 	($1,452)
		Acc Pay & accrued liabilities	$2,506 	($1,761)($408)	($1,363)
		Cash provided by operations	$20,426 $15,538 $54,227 $53,283 
													
Investing activities													
	Purchase of equipment for cash		$0 	$0 	$0 	$2,000 
		Cash applied to investing	$0 	$0 	$0 	$2,000 
													
Increase in cash during the period		$20,426 $15,538 $54,227 $51,283 
Cash, beginning of period			$52,169 $40,437 $18,368 $4,693 
													
Cash, end of period				$72,595 $55,976 $72,595 $55,976 

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