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

						Actuals	Budget	Actuals	Budget	
						Jul-98	Jul-98	YTD1998	YTD1998	
Revenue														
	Donations from members													
		Associated with registration	$3,563 	$5,268 	$23,007 $26,035 	
		Associated with renewals (1)	$7,691 	$8,832 	$124,277$202,998 	
			Total member donations	$11,254 $14,101 $147,284$229,033 	
														
	Fundraising Activities													
		Corp. donations & sponsorships	$100 	$575 	$2,710 	$4,025 	
		Other fundraising activities (2)$350 	$0 	$732 	$0 	
			Total fundraising	$450 	$575 	$3,442 	$4,025 	
														
	Grants and other revenues		$0 	$0 	$0 	$0 	
	Contributed services			$0 	$0 	$0 	$0 	
	Deferred contributions			$0 	$0 	$15,047 $10,654 	
		Total revenue			$11,704 $14,676 $165,772$243,712 	
														
														
Expenses														
	System access telecommunications	$5,651 	$6,333 	$41,915 $44,333 	
	System administration			$3,000 	$3,885 	$25,308 $26,899 	
	Office staff and supplies		$3,118 	$3,423 	$24,909 $23,958 	
	Volunteer Coordination			$384 	$125 	$867 	$875 	
	Administration and professional fees	$6,634 	$6,201 	$38,310 $40,628 	
	Promotional and other costs		($45)	$0 	$416 	$0 	
	Depreciation				$0 	$0 	$28,457 $29,889 	
		Total expenses			$18,742 $19,967 $160,182$166,582 	
														
Excess of revenue over expenses			($7,038)($5,291)$5,591 	$77,130 	
	Surplus, beginning of period		$60,896	$121,374$48,267 $38,953 	
														
Surplus, end of period				$53,858 $116,083$53,858	$116,083 	
														
														
														
	Notes:													
		1)	Revenues behind volume and price targets as per
			statistics forecasted at budgeting time											
		2) 	Includes Fundraising Drive											
														
																											
																												
National Capital Freenet														
Balance Sheet														
For the period ended as stated		
								Actuals	Budget	
								Jul-98	Jul-98	
Assets														
	Cash							$38,446 $98,446 	
	Other current assets					$671 	$672 	
								$39,116	$99,118 	
	Capital equipment (3)							
		Computer equipment				$132,909$143,517 	
		Systems software				$48,784 $43,784 	
		Telecommunications equipment			$96,680 $108,676 	
		Business equipment				$7,033 	$8,097 	
								$285,405$304,074 	
		Less accumulated depreciation			$224,226$261,321 	
								$61,179 $42,753 	
														
	Total assets						$100,295$141,871 	
																											
														
Liabilities and Surplus														
	Accounts payable and accrued liabilities (4)		$3,534 	$9,351 	
	Deferred contributions, net of amortization (3)		$42,904 $16,436 	
											
	Surplus							$53,858 $116,083 	
														
	Total liabilities and surplus				$100,295$141,870 	
														
	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	
						Jul-98	Jul-98	YTD1998	YTD1998	
Operating activities														
	Excess of revenue over expenses		($7,038)($5,291)$5,591 	$77,130 	
	Items not involving cash:													
		Deferred contributions		$0 	$0 	(15,047)(10,654)	
		Depreciation			$0 	$0 	$28,457 $29,889 	
														
	Net change in non-cash working capital items													
		Acc Rec & Prepaid Expenses	$84 	$84 	($419)	($420)	
		Acc Pay & accrued liab. (5)	$581 	$2,713 	($8,008)(13,565)	
		Cash provided by operations	($6,373)($2,494)$10,574 $82,380 	
														
Investing activities														
	Purchase of equipment for cash		$0 	$10,000 $856 	$20,000 	
		Cash applied to investing	$0 	$10,000 $856 	$20,000 	
														
Increase in cash during the period		($6,373)(12,494)$9,718 	$62,380 	
Cash, beginning of period			$44,819 $110,940$28,728 $36,066 	
														
Cash, end of period				$38,446 $98,446 $38,446 $98,446 	

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