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

						Actuals	Budget	Actuals	Budget
						May-97	May-97	YTD1997	YTD1997
Revenue													
	Donations from members (Note#1)		
		Associated with registration	$3,376 	$6,000 	$25,882 $30,000 
		Associated with renewals	$25,974 $31,000 $146,956$155,000 
			Total member donations	$29,350 $37,000 $172,839$185,000 
													
	Fundraising Activities												
		Line Sponsorships		$350 	$1,600 	$1,050 	$8,000 
		Corporate donations		$401 	$0 	$401 	$0 
		Auctions			$0 	$0 	$836 	$0 
		Sale of promotional items 	$120 	$0 	$565 	$0 
		Other activities		$0 	$0 	$0 	$0 
			Total fundraising 	$871 	$1,600 	$2,852 	$8,000 
													
	Government grants 			$0 	$0 	$0 	$0 
	Other revenues				$0 	$0 	$0 	$0 
	Deferred contributions			$0 	$0 	$7,231 	$7,959 
		Total revenue			$30,221 $38,600 $182,922$200,959 
													
													
Expenses													
	System access telecommunications	$6,562 	$5,819 	$29,500 $29,094 
	System administration 			$3,736 	$5,349 	$16,717 $26,747 
	Office staff and supplies		$3,275 	$2,878 	$16,383 $14,388 
	Volunteer Coordination			$224 	$50 	$230 	$250 
	Administration and professional fees	$6,546 	$5,805 	$30,210 $29,025 
	Fundraising and promotional costs	$0 	$0 	$4 	$0 
	Public events and access		$0 	$0 	$480 	$0 
	Costs of Grants				$0 	$0 	$0 	$0 
	Depreciation				$0 	$0 	$17,197 $18,007 
		Total expenses			$20,342 $19,901 $110,721$117,510 
													
Excess of revenue over expenses			$9,878 	$18,699 $72,201 $83,449 
	Surplus, beginning of period		$135,953$120,930$73,631 $56,180 
													
Surplus, end of period				$145,832$139,629$145,832$139,629 
													
	Notes:												
			#1 Donations have started to decline in May, this decline
			was not expected to begin until June which										
			would have been more consistent with previous years										
													


													
National Capital Freenet													
Balance Sheet													
For the period ended as stated		

								Actuals	Budget
								May-97	May-97
Assets													
	Cash							$102,917$81,019 
	Other current assets					$840 	$1,240 
								$103,757$82,259 
	Capital equipment								
		Computer equipment				$123,517$122,780 
		Systems software				$43,784	$43,784 
		Telecommunications equipment			$112,976$117,508 
		Business equipment				$8,097 	$9,833 
								$288,374$293,905 
		Less accumulated depreciation			$182,325$184,376 
								$106,049$109,529 
								
	Total assets						$209,806$191,787 
													
													
													
Liabilities and Surplus													
	Accounts payable and accrued liabilities (Note #2)	$16,184 $6,019 
													
	Deferred contributions, net of amortization		$47,791 $46,139 
													
	Surplus							$145,832$139,629 
													
	Total liabilities and surplus				$209,806$191,787 
													
	Notes:												
			#2 Accounts Payable are higher than expected as the ONET 
			fee invoice has not yet been received.										
			Payables include: 										
			   ONET Fee, Carleton University	$13,076 
			   Audit Fee, KPMG			$1,500 								
			   Office lines, Carleton University	$1,650 								
													
																										
													
National Capital Freenet													
Statement of Changes in Financial Position													
For the period ended as stated	

						Actuals	Budget	Actuals	Budget
						May-97	May-97	YTD1997	YTD1997
Operating activities													
	Excess of revenue over expenses		$9,878 	$18,699 $72,201 $83,449 
	Items not involving cash:												
		Deferred contributions		$0 	$0 	($7,231)($7,959)
		Depreciation			$0 	$0 	$17,197 $18,007 
													
	Net change in non-cash working capital items												
		Acc Rec & Prepaid Expenses	$84 	$130 	($588)	($1,192)
		Acc Pay & accrued liabilities	$2,490 	($9,015)$4,535 	($8,179)
		Cash provided by operations	$12,453 $9,814 	$86,113 $84,125 
													
Investing activities													
	Purchase of equipment for cash		$1,564 	$5,800 	$1,564 	$7,800 
		Cash applied to investing 	$1,564 	$5,800 	$1,564 	$7,800 
													
Increase in cash during the period		$10,889 $4,014 	$84,549 $76,325 
Cash, beginning of period			$92,029 $77,004 $18,368 $4,693 
													
Cash, end of period				$102,917$81,019 $102,917$81,019 
--
Jeff Bossert (bossert@freenet.carleton.ca)
:
Treasurer and Director, National Capital FreeNet
Senior Engineer, Comgate Engineering