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

						Actuals	Budget	Actuals	Budget
						Sep-98	Sep-98	YTD1998	YTD1998
Revenue													
	Donations from members												
		Associated with registration	$2,988 	$4,908 	$28,413 $35,743 
		Associated with renewals (1)	$5,095 	$4,307 	$134,072$211,856 
			Total member donations	$8,084 	$9,215 	$162,485$247,599 
													
	Fundraising Activities												
		Corporate donations & sponsor	$400 	$575 	$3,310 	$5,175 
		Other fundraising (2)		$15,879 $0 	$25,623 $0 
			Total fundraising	$16,279 $575 	$28,933 $5,175 
													
	Grants and other revenues		$0 	$0 	$0 	$0 
	Contributed services			$0 	$0 	$0 	$0 
	Deferred contributions			$7,523 	$5,327 	$22,570 $15,981 
		Total revenue			$31,885 $15,117 $213,988$268,755 
													
													
Expenses													
	System access telecommunications	$5,191 	$6,333 	$52,363 $57,000 
	System administration (3)		$0 	$3,885 	$25,308 $34,669 
	Office staff and supplies		$3,270 	$3,423 	$31,505 $30,804 
	Volunteer Coordination			$83 	$125 	$968 	$1,125 
	Administration and professional fees	$6,184 	$6,181 	$49,363 $52,989 
	Promotional and other costs		$355 	$0 	$771 	$0 
	Depreciation				$14,228 $15,101 $42,685 $44,990 
		Total expenses			$29,311 $35,048 $202,963$221,577 
													
Excess of revenue over expenses			$2,574 	(19,932)$11,025 $47,178 
	Surplus, beginning of period		$56,718 $106,062$48,267 $38,953 
													
Surplus, end of period				$59,292 $86,131 $59,292 $86,131 
													
													
													
	Notes:												
		1)	Revenues behind volume and price targets as per statistics
			forecasted at budgeting time										
		2) 	Results from the Fundraising Drive as well as $4,064 from 
			Harvest ride										
		3)	No System Administrator on staff during the month										
													
																									
													
													
National Capital Freenet													
Balance Sheet													
For the period ended as stated

								Actuals	Budget
								Sep-98	Sep-98
Assets													
	Cash							$51,727 $83,862 
	Other current assets					$503 	$504 
								$52,230 $84,366 
	Capital equipment (4)												
		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						$99,181 $112,018 
													
																							
Liabilities and Surplus										
	Accounts payable and accrued liabilities (5)		$4,508 	$14,777 
	Deferred contributions, net of amortization (4)		$35,381 $11,109 
													
	Surplus							$59,292 $86,131 
													
	Total liabilities and surplus				$99,181	$112,017 
													
	Notes:												
		4)	Capital differs to budget due to  contributed capital 
			being recieved after setting of budget										
		5)	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
						Sep-98	Sep-98	YTD1998	YTD1998
Operating activities													
	Excess of revenue over expenses		$2,574 	(19,932)$11,025 $47,178 
	Items not involving cash:												
		Deferred contributions		(7,523)	(5,327)	(22,570)(15,981)
		Depreciation			$14,228 $15,101 $42,685 $44,990 
													
	Net change in non-cash working capital items												
		Acc Rec & Prepaid Expenses	$84 	$84 	($251)	($252)
		Acc Pay & accrued liab. (6)	$514 	$2,713 	($7,034)($8,139)
		Cash provided by operations	$9,878 	($7,361)$23,855 $67,796 
													
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		$9,878 	($7,361)$22,999 $47,796 
Cash, beginning of period			$41,850 $91,222 $28,728 $36,066 
													
Cash, end of period				$51,727 $83,862 $51,727 $83,862 


	Notes:												
		6)	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