Nov-97	Nov-97	YTD1997	YTD1997
Revenue													
	Donations from members (note#1)		
		Associated with registration	$2,398 	$6,000 	$45,527 $66,000 
		Associated with renewals	$3,434 	$3,000 	$175,621$186,250 
			Total member donations	$5,832 	$9,000 	$221,148$252,250 
													
	Fundraising Activities												
		Line Sponsorships		$0 	$1,600 	$2,450 	$17,600 
		Corporate donations		$300 	$0 	$1,401 	$0 
		Auctions			$0 	$0 	$866 	$0 
		Sale of promotional items 	$10 	$0 	$803 	$0 
		Other activities		$0 	$0 	$0 	$0 
			Total fundraising 	$310 	$1,600 	$5,520 	$17,600 
													
	Government grants 			$0 	$0 	$0 	$0 
	Other revenues				$0 	$0 	$0 	$0 
	Deferred contributions			$0 	$0 	$21,772 $23,877 
		Total revenue			$6,142 	$10,600 $248,440$293,727 
													
													
Expenses													
	System access telecommunications	$6,396 	$5,819 	$70,084 $64,006 
	System administration (note #2)		$3,736 	$5,349 	$39,133 $58,843 
	Office staff and supplies		$3,596 	$2,878 	$37,420 $31,653 
	Volunteer Coordination 			$0 	$50 	$1,549 	$550 
	Administration and professional fees	$5,461 	$5,805 	$68,063 $63,855 
	Fundraising and promotional costs	$0 	$0 	$4 	$0 
	Public events and access		$0 	$0 	$542 	$0 
	Costs of Grants				$0 	$0 	$0 	$0 
	Depreciation				$0 	$0 	$49,235	$55,307 
		Total expenses			$19,188 $19,901 $266,031$274,214 
													
Excess of revenue over expenses			(13,047)($9,301)(17,590)$19,513 
	Surplus, beginning of period		$69,087 $84,994 $73,631	$56,180 
													
Surplus, end of period				$56,040 $75,693 $56,040 $75,693 
													
	Notes:												
			#1 The Postal strike has had an impact on the number of 
			donations recieved.  Year to Date donations are lower 
			than expected as actual receipts dropped off in May as 										
			opposed to June as Budgeted as well as decreases being 
			greater than expected.										

			#2 Systems budget allowed for additional systems upgrading.
			These contracts have not been let.										
													
													
													
National Capital Freenet													
Balance Sheet													
For the period ended as stated		

								Actuals	Budget
								Nov-97	Nov-97
Assets													
	Cash (note #3)						$27,789 $34,225 
	Other current assets					$336 	$460 
								$28,125 $34,685 
	Capital equipment												
		Computer equipment				$123,517$122,780 
		Systems software				$43,784 $43,784 
		Telecommunications equipment			$108,675$122,508 
		Business equipment				$8,097 	$11,833 
								$284,073$300,905 
		Less accumulated depreciation			$214,363$221,677 
								$69,710 $79,228 
													
	Total assets						$97,835	$113,913 
													
													
													
Liabilities and Surplus													
	Accounts payable and accrued liabilities (note #4)	$7,705	$7,999 
													
	Deferred contributions, net of amortization		$34,090	$30,221 
													
	Surplus							$56,040	$75,693 
													
	Total liabilities and surplus				$97,835	$113,913 
													
	Notes:												
			#3 Cash is below budget as revenues have not met 
			expectations, the impact of reduced revenues has been 
			reduced through delayed capital expenditures.										

			#4 Account Payable includes:										
			     ONET Fee, Carleton University	$2,095 								
			     Audit Fee, KPMG			$3,300 								
			     Office lines, Carleton University	$2,310 								
													
													
													
National Capital Freenet													
Statement of Changes in Financial Position													
For the period ended as stated			

						Actuals	Budget	Actuals	Budget
						Nov-97	Nov-97	YTD1997	YTD1997
Operating activities													
	Excess of revenue over expenses		(13,047)($9,301)(17,590)$19,513 
	Items not involving cash:												
		Deferred contributions		$0 	$0 	(21,772)(23,877)
		Depreciation			$0 	$0 	$49,235	$55,307 
												
	Net change in non-cash working capital items												
		Acc Rec & Prepaid Expenses	$84 	$130 	($84)	($412)
		Acc Pay & accrued liabilities	($9,785)($9,015)($3,944)($6,199)
		Cash provided by operations	(22,748)(18,186)$5,845 	$44,331 
												
Investing activities													
	Purchase of equipment for cash		$0 	$0 	($3,577)$14,800 
		Cash applied to investing	$0 	$0 	($3,577)$14,800 
													
Increase in cash during the period		(22,748)(18,186)$9,421 	$29,531 
Cash, beginning of period			$50,537 $52,410 $18,368 $4,693 
													
Cash, end of period				$27,789 $34,225 $27,789 $34,225 


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