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

						Actuals	Budget Actuals Budget
						Jun-97	Jun-97 YTD1997 YTD1997
Revenue													
	Donations from members (note#1)												
		Associated with registration    $2,516 	$6,000 $28,398 $36,000 
		Associated with renewals	$8,541 	$16,250$155,498$171,250 
			Total member donations	$11,057 $22,250$183,896$207,250 
													
	Fundraising Activities												
		Line Sponsorships		$700 	$1,600 	$1,750 $9,600 
		Corporate donations		$0 	$0 	$401   $0 
		Auctions			$30 	$0 	$866   $0 
		Sale of promotional items 	$53 	$0 	$618   $0 
		Other activities		$0 	$0 	$0     $0 
			Total fundraising 	$783 	$1,600 	$3,635 $9,600 
													
	Government grants 			$0 	$0 	$0 	$0 
	Other revenues				$0 	$0 	$0 	$0 
	Deferred contributions			$7,231 	$7,959 	$14,462 $15,918 
		Total revenue			$19,071 $31,809 $201,993$232,768 
													
													
Expenses													
	System access telecommunications	$6,062 	$5,819 	$35,562 $34,913 
	System administration (note #2)		$3,736 	$5,349  $20,453 $32,096 
	Office staff and supplies		$3,269 	$2,878 	$19,652 $17,265 
	Volunteer Coordination			$0 	$50 	$230 	$300 
	Admin. and professional fees (note#3)	$9,024 	$5,805 	$39,234 $34,830 
	Fundraising and promotional costs	$0 	$0 	$4 	$0 
	Public events and access		$0 	$0 	$480 	$0 
	Costs of Grants				$0 	$0 	$0 	$0 
	Depreciation				$17,295 $18,494 $34,492 $36,501 
		Total expenses			$39,386 $38,395 $150,107$155,904 
													
Excess of revenue over expenses			(20,315)(6,586)	$51,886 $76,864 
	Surplus, beginning of period		$145,832$139,629$73,631 $56,180 
													
Surplus, end of period				$125,517$133,044$125,517$133,044 
													
	Notes:												
		#1 Donations have started to decline in May, this decline 
		was not expected to begin until later in the year										
		which would have been more consistent with previous years										
		#2 Systems budget allowed for additional systems upgrading.  
		These contracts have not been let.										
		#3 Additional professional fees resulted from the overlap 
		of the Executive Director position.										
													
													
													
National Capital Freenet													
Balance Sheet													
For the period ended as stated		

								Actuals	Budget
								Jun-97	Jun-97
Assets													
	Cash (note #4)						$95,260 $85,297 
	Other current assets					$756 	$1,110 
								$96,016 $86,407 
	Capital equipment												
		Computer equipment				$123,517$122,780 
		Systems software				$43,784 $43,784 
		Telecommunications equipment			$112,976$117,508 
		Business equipment				$8,097  $11,833 
								$288,374$295,905 
		Less accumulated depreciation			$199,620$202,870 
								$88,754 $93,035 
													
	Total assets						$184,770$179,441 
																									
													
Liabilities and Surplus													
	Accounts payable and accrued liabilities (note #5)	$18,694 $8,218 
													
	Deferred contributions, net of amortization		$40,560 $38,180 
													
	Surplus							$125,517$133,044 
													
	Total liabilities and surplus				$184,770$179,441 
													
	Notes:												
			#4 Cash exceeds Budget due to Actual opening balance as 
			of Jan/97 being higher than Budget as well as 										
			certain invoices being accrued for have not yet been 
			received (see note #5)										
			#5 Account Payable are higher than expected as the ONET 
			fee invoice has not yet been received.										
			Payables include: 										
			   ONET Fee, Carleton University	$14,944 								
			   Audit Fee, KPMG			$1,800 								
			   Office lines, Carleton University	$1,980 								
													
													
National Capital Freenet													
Statement of Changes in Financial Position													
For the period ended as stated			

						Actuals	Budget	Actuals	Budget
						Jun-97	Jun-97	YTD1997	YTD1997
Operating activities													
	Excess of revenue over expenses		(20,315)($6,586)$51,886 $76,864 
	Items not involving cash:												
		Deferred contributions		($7,231)($7,959)(14,462)(15,918)
		Depreciation			$17,295 $18,494 $34,492 $36,501 
													
	Net change in non-cash working capital items												
		Acc Rec & Prepaid Expenses	$84 	$130 	($504)	($1,062)
		Acc Pay & accrued liabilities	$2,510 	$2,199 	$7,045 	($5,980)
		Cash provided by operations	($7,657)$6,278 	$78,457 $90,404 
													
Investing activities													
	Purchase of equipment for cash		$0 	$2,000 	$1,564 	$9,800 
		Cash applied to investing 	$0 	$2,000 	$1,564 	$9,800 
													
Increase in cash during the period		($7,657)$4,278 	$76,893 $80,604 
Cash, beginning of period			$102,917$81,019 $18,368 $4,693 
													
Cash, end of period				$95,261 $85,297 $95,261 $85,297