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

						Actuals	Budget	Actuals	Budget
						Nov-98	Nov-98	YTD1998	YTD1998
Revenue													
	Donations from members		
		Associated with registration	$2,333 	$3,387 	$34,040 $43,584 
		Associated with renewals (1)	$5,019 	$3,643 	$144,662$219,732 
			Total member donations	$7,352 	$7,030 	$178,702$263,316 
													
	Fundraising Activities												
		Corporate donations 		$200 	$575 	$4,110 	$6,325 
		Other fundraising activities	$1,800 	$0 	$36,627 $0 
			Total fundraising	$2,000 	$575 	$40,737 $6,325 
													
	Grants and other revenues		$0 	$0 	$0 	$0 
	Contributed services			$0 	$0 	$0 	$0 
	Deferred contributions			$0 	$0 	$22,570	$15,981 
		Total revenue			$9,352 	$7,605 	$242,009$285,622 
													
													
Expenses													
	System access telecommunications	$5,365 	$6,333 	$63,037	$69,667 
	System administration (2)		$1,926 	$3,885 	$27,235	$42,440 
	Office staff and supplies		$3,412 	$3,423 	$39,395 $37,649 
	Volunteer Coordination			$0 	$125 	$1,716 	$1,375 
	Administration and professional fees	$6,250 	$6,181 	$61,895 $65,351 
	Promotional and other costs		$0 	$0 	$3,947 	$0 
	Depreciation				$0 	$0 	$42,685 $44,990 
		Total expenses			$16,954 $19,947 $239,909$261,471 
													
Excess of revenue over expenses			($7,601)(12,342)$2,100 	$24,151 
	Surplus, beginning of period		$57,969 $75,446 $48,267 $38,953 
													
Surplus, end of period				$50,368 $63,104 $50,368 $63,104 
																																					
	Notes:												
		1)	Revenues behind volume and price targets as per statistics 
			forecasted at budgeting time										
		2) 	New System Administrator hired during the month										
														
																										
													
National Capital Freenet													
Balance Sheet													
For the period ended as stated		

								Actuals	Budget
								Nov-98	Nov-98
Assets											
	Cash							$44,306 $66,429 
	Other current assets					$335 	$336 
								$44,640	$66,765 
	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			$238,454$276,422 
								$46,951 $27,652 
													
	Total assets						$91,591	$94,417 
													
																										
Liabilities and Surplus													
	Accounts payable and accrued liabilities 		$5,843 	$20,203 
	Deferred contributions, net of amortization (3)		$35,381 $11,109 
													
	Surplus							$50,368 $63,104 
													
	Total liabilities and surplus				$91,591 $94,416 
													
	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
						Nov-98	Nov-98	YTD1998	YTD1998
Operating activities													
	Excess of revenue over expenses		($7,601)(12,342)$2,100 	$24,151 
	Items not involving cash:												
		Deferred contributions		$0 	$0 	(22,570)(15,981)
		Depreciation			$0 	$0 	$42,685 $44,990 
													
	Net change in non-cash working capital items												
		Acc Rec & Prepaid Expense	$84 	$84 	$252 	($84)
		Acc Pay & accrued liab (5)	$66 	$2,713 	(11,542)($2,713)
		Cash provided by operations	($7,451)($9,545)$10,925 $50,363 
													
Investing activities													
	Purchase of equipment for cash		$0 	$0 	$856 	$20,000 
		Cash applied to investing 	$0 	$0 	$856 	$20,000 
													
Increase in cash during the period		($7,451)($9,545)$15,577 $30,363 
Cash, beginning of period			$51,756 $75,974 $28,728	$36,066 
													
Cash, end of period				$44,305 $66,429	$44,305	$66,429 

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

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