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

						Actuals	Budget	Actuals	Budget
						Mar-98	Mar-98	YTD1998	YTD 1998
Revenue													
	Donations from members												
		Associated with registration	$2,991 	$3,441 	$9,600 	$11,297 
		Associated with renewals (1)	$22,914 $34,426 $67,691 $99,016 
			Total member donations	$25,905 $37,867	$77,291	$110,313 
													
	Fundraising Activities												
		Corp donations & sponsorships	$110 	$575 	$760 	$1,725 
		Other fundraising activities	$15 	$0 	$372 	$0 
			Total fundraising 	$125 	$575 	$1,132 	$1,725 
													
	Grants and other revenues		$0 	$0 	$0 	$0 
	Contributed services			$0 	$0 	$0 	$0 
	Deferred contributions			$7,516 	$5,327 	$7,516 	$5,327 
		Total revenue			$33,546 $43,769 $85,938 $117,365 
											
													
Expenses													
	System access telecommunications	$6,394 	$6,333 	$19,251 $19,000 
	System administration			$3,885 	$3,885 	$10,583 $11,357 
	Office staff and supplies (2)		$5,362 	$3,423 	$11,995 $10,268 
	Volunteer Coordination			$0 	$125 	$91 	$375 
	Administration and professional fees	$6,191 	$5,717 	$16,577	$17,151 
	Promotional and other costs		$0 	$0 	$70 	$0 
	Depreciation				$14,194 $14,632 $14,194 $14,632 
		Total expenses			$36,025 $34,115 $72,760 $72,783 
													
Excess of revenue over expenses			(2,480)	$9,653 	$13,178 $44,582 
	Surplus, beginning of period		$63,925 $73,882 $48,267 $38,953 
													
Surplus, end of period				$61,446 $83,535	$61,446	$83,535 
													
													
																						
	Notes:												
		1)	Revenues behind volume and price targets as per 
			statistics forecasted at budgeting time										
		2)	Office Supplies greater than budget due to Carleton
			invoicing miscellaneous items covering May '97 to 
			Feb '98										
													
																							
													
National Capital Freenet													
Balance Sheet													
For the period ended as stated	

								Actuals	Budget
								Mar-98	Mar-98
Assets													
	Cash							$37,375 $74,258 
	Other current assets					$1,007 	$1,008 
								$38,381 $75,266 
	Capital equipment (3)											
		Computer equipment				$132,909$128,517 
		Systems software				$48,784 $43,784 
		Telecommunications equipment			$95,579	$108,676 
		Business equipment				$7,033 	$8,097 
								$284,305$289,074 
		Less accumulated depreciation			$209,963$246,064 
								$74,341 $43,010 
													
	Total assets						$112,722$118,276 
													
													
													
Liabilities and Surplus													
	Accounts payable and accrued liabilities (4)		$1,087 	$12,977 
	Deferred contributions, net of amortization (3)		$50,190 $21,763 
													
	Surplus							$61,446 $83,535 
													
	Total liabilities and surplus				$112,722$118,275 
													
	Notes:												
		3)	Capital differs to budget due to contributed capital 
			being recieved after setting of budget										
		4)	Accrued Liabilities lower than budget as payments to 
			Carleton on ONET now made monthly										
	
												
													
National Capital Freenet													
Statement of Changes in Financial Position													
For the period ended as stated	

						Actuals	Budget	Actuals	Budget
						Mar-98	Mar-98	YTD1998	YTD1998
Operating activities													
	Excess of revenue over expenses		(2,480)	$9,653 	$13,178 $44,582 
	Items not involving cash:												
		Deferred contributions		(7,516)	(5,327)	(7,516)	(5,327)
		Depreciation			$14,194 $14,632 $14,194 $14,632 
													
	Net change in non-cash working capital												
		Acc Rec & Prepaid Expenses	(923)	(924)	(755)	(756)
		Acc Payable & accrued liab (5)	(2,720)	(887)	(10,455)(9,939)
		Total Cash provided by ops	$556 	$17,147 $8,647 	$43,192 
													
Investing activities													
	Purchase of equipment for cash		$0 	$0 	$0 	$5,000 
		Total Cash applied to investing $0 	$0 	$0 	$5,000 
													
Increase in cash during the period		$556 	$17,147	$8,647 	$38,192 
Cash, beginning of period			$36,819 $57,111 $28,728 $36,066 
													
Cash, end of period				$37,375 $74,258 $37,375 $74,258 

	Notes:												
		5)	Budget assumed payments bi-annually.  The ONET related 
			charges are now being settled monthly.										
 

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