Aug 98 NFC Financial Statements National Capital Freenet Statement of Revenue, Expenses, and Surplus Period ended as stated Actuals Budget Actuals Budget Aug-98 Aug-98 YTD1998 YTD1998 Revenue Donations from members Associated with registration $2,418 $4,800 $25,425 $30,835 Associated with renewals (1) $4,699 $4,551 $128,977$207,549 Total member donations $7,117 $9,351 $154,401$238,385 Fundraising Activities Corp. donations & sponsorships $200 $575 $2,910 $4,600 Other fundraising activities (2)$9,013 $0 $9,745 $0 Total fundraising $9,213 $575 $12,655 $4,600 Grants and other revenues $0 $0 $0 $0 Contributed services $0 $0 $0 $0 Deferred contributions $0 $0 $15,047 $10,654 Total revenue $16,330 $9,926 $182,103$253,639 Expenses System access telecommunications $5,257 $6,333 $47,172 $50,667 System administration (3) $0 $3,885 $25,308 $30,784 Office staff and supplies $3,326 $3,423 $28,235 $27,381 Volunteer Coordination $18 $125 $885 $1,000 Administration and professional fees $4,869 $6,181 $43,179 $46,809 Promotional and other costs $0 $0 $416 $0 Depreciation $0 $0 $28,457 $29,889 Total expenses $13,471 $19,947 $173,652$186,529 Excess of revenue over expenses $2,860 (10,021)$8,451 $67,109 Surplus, beginning of period $53,858 $116,083$48,267 $38,953 Surplus, end of period $56,718 $106,062 $56,718$106,062 Notes: 1) Revenues behind volume and price targets as per statistics forecasted at budgeting time 2) Results from the Fundraising Drive began to show during the month 3) No System Administrator on staff during the month National Capital Freenet Balance Sheet For the period ended as stated Actuals Budget Aug-98 Aug-98 Assets Cash $41,850 $91,222 Other current assets $587 $588 $42,436 $91,810 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 $224,226$261,321 $61,179 $42,753 Total assets $103,615$134,563 Liabilities and Surplus Accounts payable and accrued liabilities (5) $3,994 $12,064 Deferred contributions, net of amortization (4) $42,904 $16,436 Surplus $56,718 $106,062 Total liabilities and surplus $103,615$134,562 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 Aug-98 Aug-98 YTD1998 YTD1998 Operating activities Excess of revenue over expenses $2,860 (10,021)$8,451 $67,109 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 ($335) ($336) Acc Pay & accrued liab. (6) $460 $2,713 ($7,548)(10,852) Cash provided by operations $3,404 (7,224) $13,978 $75,156 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 $3,404 (7,224) $13,122 $55,156 Cash, beginning of period $38,446 $98,446 $28,728 $36,066 Cash, end of period $41,850 $91,222 $41,85 $91,222 Notes: 6) Budget assumed payments bi-annually. The ONET related charges are now being settled monthly.