National Capital Freenet													
Statement of Revenue, Expenses, and Surplus													
Period ended as stated		
		
						Actuals	Budget	Actuals	Budget
						Jun-98	Jun-98	YTD1998	YTD1998
Revenue													
	Donations from members												
		Associated with registration	$3,324 	$3,279 	$19,443 $20,767 
		Associated with renewals (1)	$9,444 	$23,953 $116,586$194,166 
			Total member donations	$12,767 $27,232 $136,030$214,932 
													
	Fundraising Activities												
		Corp. donations & sponsorships	$1,100 	$575 	$2,610 	$3,450 
		Other fundraising activities	$0 	$0 	$382 	$0 
			Total fundraising 	$1,100 	$575 	$2,992 	$3,450 
													
	Grants and other revenues		$0 	$0 	$0 	$0 
	Contributed services			$0 	$0 	$0 	$0 
	Deferred contributions			$7,531 	$5,327 	$15,047 $10,654 
		Total revenue			$21,398 $33,134 $154,068$229,036 
													
													
Expenses													
	System access telecommunications (2)	$5,958 	$6,333 	$36,264 $38,000 
	System administration			$3,885 	$3,885 	$22,308 $23,013 
	Office staff and supplies		$3,336 	$3,423 	$21,791	$20,536 
	Volunteer Coordination			$0 	$125 	$482 	$750 
	Administration and professional fees	$6,519 	$5,842 	$31,676 $34,427 
	Promotional and other costs		$0 	$0 	$461 	$0 
	Depreciation				$14,263	$15,257 $28,457 $29,889 
		Total expenses			$33,961 $34,865 $141,440$146,615 
													
Excess of revenue over expenses			(12,563)(1,731)	$12,628	$82,421 
	Surplus, beginning of period		$73,458 $123,106$48,267 $38,953 
													
Surplus, end of period				$60,896 $121,374$60,896	$121,374 
											
												
													
	Notes:												
		1)	Revenues behind volume and price targets as per 
			statistics forecasted at budgeting time										
		2) 	A new agreement has been struck with Carleton for 
			ONET access 										
																										
	
																									
National Capital Freenet													
Balance Sheet													
For the period ended as stated

								Actuals	Budget
								Jun-98	Jun-98
Assets													
	Cash							$44,819	$110,940 
	Other current assets					$755 	$756 
								$45,573 $111,696 
	Capital equipment (3)
		Computer equipment				$132,909$133,517 
		Systems software				$48,784	$43,784 
		Telecommunications equipment			$96,680 $108,676 
		Business equipment				$7,033 	$8,097 
								$285,405$294,074 
		Less accumulated depreciation			$224,226$261,321 
								$61,179	$32,753 
													
	Total assets						$106,752$144,449 
													
																										
Liabilities and Surplus													
	Accounts payable and accrued liabilities (4)		$2,953 	$6,638 
	Deferred contributions, net of amortization (3)		$42,904 $16,436 
								
	Surplus							$60,896 $121,374 
													
	Total liabilities and surplus				$106,752$144,448 
													
	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
						Jun-98	Jun-98	YTD1998	YTD1998
Operating activities													
	Excess of revenue over expenses		(12,563)($1,731)$12,628	$82,421 
	Items not involving cash:												
		Deferred contributions		($7,531)($5,327)(15,047)(10,654)
		Depreciation			$14,263 $15,257 $28,457 $29,889 
													
	Net change in non-cash working capital 											
		Acc Rec & Prepaid Expenses	$84 	$84 	($503)	($504)
		Acc Pay & accrued liab. (4)	$227 	(11,765)($8,589)(16,278)
		Cash provided by operations	($5,520)($3,482)$16,947 $84,874 
													
Investing activities													
	Purchase of equipment for cash		$856 	$0 	$856 	$10,000 
		Cash applied to investing	$856 	$0 	$856 	$10,000 
													
Increase in cash during the period		($6,376)($3,482)$16,091 $74,874 
Cash, beginning of period			$51,194 $114,423$28,728 $36,066 
													
Cash, end of period				$44,819 $110,940$44,819 $110,940 
						
	Notes:												
		4)	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