National Capital Freenet													
Statement of Revenue, Expenses, and Surplus (unaudited)													
Period ended Dec 31, 1996	

					Actuals	Budget	Frcst 6	Actuals	Budget
					Dec-96	Dec-96	Dec-96	YTD1996	YTD1996
Revenue													
	Donations (1)			$20,192 $22,000	$11,600 $105,980$254,000 
	Government grants		$0 	$0 	$0 	$28,000 $60,000 
	Fundraising (2)			$6,256 	$9,100 	$1,700 	$89,333 $121,400 
	Deferred cont. (3)		$7,035 	$9,085 	$7,959 	$28,139 $34,092 
	Promotional items 		$101 	$0 	$0 	$3,927 	$3,000 
	Pub. access cost rec.		$0 	$0 	$0 	$1,070 	$0 
		Total revenue		$33,584 $40,185 $21,259 $256,448$472,492 
													
													
Expenses													
	Telecommunications		$6,799 	$12,646 $5,725 	$70,545 $133,306 
	System administration		$2,843 	$6,424 	$2,841 	$74,729 $81,707 
	Office staff and supplies	$2,815 	$4,761 	$2,637 	$33,513 $46,162 
	Volunteer Coordination		$0 	$1,675 	$50 	$9,304 	$20,100 
	Admin. and prof. fees		$4,629 	$6,305 	$5,880 	$68,606 $75,460 
	Fundraising 			$0 	$3,298 	$0 	$32,608 $49,449 
	Costs of Grants			$0 	$0 	$0 	$0 	$10,000 
	Promotional items		$0 	$0 	$0 	$115 	$300 
	Depreciation			$16,640 $22,164 $17,819 $65,917 $81,875 
	Public events			$0 	$100 	$0 	$217 	$1,400 
	Public access			$0 	$1,340 	$0 	$0 	$5,360 
		Total expenses		$33,726 $58,713 $34,953 $355,555$505,118 
													
Excess of revenue over expenses		($142)	(18,527)(13,693)(99,107)(32,627)
	Surplus, beginning of period	$73,772 $153,639$73,772 $172,738$167,738 
													
Surplus, end of period			$73,631 $135,111$60,079 $73,631 $135,111 
													
													
	1) Donations includes $15K in member renewal donations												
	2) Fundraising receipts include $530 in new registrant PFAs and $4,326 
		in auction proceeds												
	3) Deferred Contributions represents non-cash recognition of contributed 
		equipment												
													
													
													
National Capital Freenet													
Balance Sheet (unaudited)													
Period ended Dec 31, 1996					
						Actuals	Frcst 6	Budget
						Dec-96	Dec-96	Dec-96
Assets													
	Cash (4)				$18,368	$24,217	$25,181 
	Other current assets 			$252 	$48 	$611 
						$18,620 $24,265 $25,792 
	Capital equipment												
		Computer equipment		$123,517$122,780$147,830 
		Systems software		$43,784 $43,784	$46,909 
		Telecommunications equipment	$112,976$112,508$118,353 
		Business equipment		$6,533 	$6,033 	$41,533 
						$286,810$285,105$354,625 
		Less accumulated depreciation	$165,128$166,307$181,086 
						$121,682$118,798$173,539 
						
	Total assets				$140,302$143,063$199,331 
													
										
													
Liabilities and Surplus													
	Accounts payable and accrued liab. (5)	$11,650 $28,886 ($2,870)
													
	Deferred cont., net of amortization	$55,022 $54,098 $67,090 
													
	Surplus					$73,631 $60,079 $135,111 
													
	Total liabilities and surplus		$140,302$143,063$199,331 
												
	(4) Cash is lower than forecast as certain outstanding liabilities 
		to Carleton University were paid during the month.												
	(5) Accounts Payable and Accrued liabilities include the following 
		major items												
			ONET Fees (Carleton University)		$3,738 						
			Audit Fees accrued (KPMG)		$3,960 						
			Bell Canada				$3,949 						
													
													
														
													
National Capital Freenet													
Statement of Changes in Financial Position (unaudited)													
Period ended Dec 31, 1996													
					Actuals	Budget	Frcst 6	Actuals	Budget
					Dec-96	Dec-96	Dec-96	YTD1996	YTD1996
Operating activities													
	Excess of revenue over expenses	(142)	(18,527)(13,693)(99,107)(32,627)
	Items not involving cash:												
		Deferred contributions	(7,035)	(9,085)	(7,959)	(28,139)(34,092)
		Depreciation		$16,640 $22,164 $17,819 $65,917 $81,875 
	Net change in non-cash work.cap 												
		Acc Rec & Prepaid Exp.	(74)	$130 	$130 	$5,349 	(10)
		Acc Pay & accrued liab.	(15,281)$330 	$1,955 	(4,831)	(19,350)
		Cash provided by ops.	(5,892)	(4,989)	(1,748)	(60,811)(4,203)
													
Investing activities													
	Purchase of equipment for cash	$1,705 	$0 	$0 	$16,705 $66,500 
		Cash applied to invest	$1,705 	$0 	$0 	$16,705 $66,500 
													
Increase in cash during the period	(7,598)	(4,989)	(1,748)	(77,516)(70,703)
Cash, beginning of period		$25,966	$30,170 $25,966 $95,885 $95,884 
													
Cash, end of period			$18,368 $25,181 $24,217 $18,368 $25,181