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

						Actuals	Budget	Actuals	Budget
						Oct-97	Oct-97	YTD1997	YTD1997
Revenue													
	Donations from members (note#1)												
		Associated with registration	$3,312 	$6,000 	$43,129 $60,000 
		Associated with renewals	$2,283 	$3,000 	$172,187$183,250 
			Total member donations	$5,595 	$9,000 	$215,317$243,250 
													
	Fundraising Activities												
		Line Sponsorships		$0 	$1,600 	$2,450 	$16,000 
		Corporate donations		$300 	$0 	$1,101 	$0 
		Auctions			$15 	$0 	$881 	$0 
		Sale of promotional items 	$0 	$0 	$778 	$0 
		Other activities		$0 	$0 	$0 	$0 
			Total fundraising 	$315 	$1,600 	$5,210  $16,000 
													
	Government grants 			$0 	$0 	$0 	$0 
	Other revenues				$0 	$0 	$0 	$0 
	Deferred contributions			$0 	$0 	$21,772	$23,877 
		Total revenue			$5,910 	$10,600 $242,299$283,127 
													
													
Expenses													
	System access telecommunications	$6,536 	$5,819 	$63,689 $58,188 
	System administration (note #2)		$3,736 	$5,349 	$35,397 $53,494 
	Office staff and supplies		$3,361 	$2,878 	$33,824 $28,775 
	Volunteer Coordination 			($69)	$50 	$1,549 	$500 
	Administration and professional fees	$5,945 	$5,805 	$62,603 $58,050 
	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			$19,508	$19,901 $246,842$254,314 
													
Excess of reven			(13,598)($9,301
	Surplus, beginning of period		$82,685	$94,294 $73,631 $
													
Surplus, end of period				$69,087 $84,994	$69,087	$84,994 
													
	Notes:												
			#1 Year to Date donations are lower than exp
			actual receipts dr
			as Budgeted as well as decreases being gre
			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
								Oct-97	Oct-97
Assets													
	Cash (note #3)						$50,537 $52,410 
	Other curre					$420 	$590 
								$50,957 $53,000 
	Capital equipment												
		Computer equipment				$123,517$122,780 
		Systems software				$43,784 $43,784 
		Telecommunications equipment			$108,675$
		Business equipment				$8,097 	$11,833 
								$284,073$300,905 
		Less accumulated depreciation			$214,363$221,677 
								$69,710 $79,228 
													
	Total assets						$120,667$132,228 
													
													
													
Liabilities and Surplus													
	Accounts paya	$17,490 $17,014 
													
	Deferred contributions, net of amortization		$34,090 $30,221 
													
	Surplus							$69,087	$84,994 
													
	Total liabilities and surplus				$120,667$132,228 
													
	Notes:												
			#3 Cash is on budget since budgeted capital expenditures 
			have been delayed.	
									
			#4 Account Payable includes.										
			     ONET Fee, Carleton University	$12,510 								
			     Audit Fee, KPMG			$3,000 								
			     Office lines, Carleton University	$1,980 		
						
			Next Carleton invoice is due Nov 97 in the amount of 
			approximately $15,000										
													
													
													
National Capital Freenet													
Statement of Changes in Financial Position													
For the period ended as stated			

						Actuals	Budget	Actuals	Budget
						Oct-97	Oct-97	YTD1997	YTD1997
Operating activities													
	Excess of revenue over expenses		(13,598)($9,301)($4,544)$28,814 
	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 	($168)	($542)
		Acc Pay & accrued liabilities	$2,855 	$2,199 	$5,841 	$2,816 
		Cash provided by operations	(10,659)($6,972)$28,592 $62,517 
													
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		(10,659)($6,972)$32,169 $47,717 
Cash, beginning of period			$61,196	$59,382 $18,368 $4,693 
													
Cash, end of period				$50,537 $52,410 $50,537 $52,410 

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