National Capital Freenet
Statement of Revenue, Expenses, and Surplus
Unaudited for the period ended as stated;

 						Actuals	Budget	Actuals	Budget
						Dec-98	Dec-98	YTD1998	YTD 1998
Revenue									
	Donations from members							
		Associated with registration	$2,196 	$2,642	$36,236 $46,226 
		Associated with renewals	$13,687	$8,656 	$158,350$228,389
			Total member donations	$15,883	$11,298 $194,585$274,614 
												
	Fundraising Activities												
		Corporate donations		$220 	$575 	$4,330 	$6,900 
		Other fundraising activities(1)	$5,968 	$0 	$42,595 $0 
			Total fundraising	$6,188 	$575 	$46,925 $6,900 
													
	Grants and other revenues		$0 	$0 	$0 	$0 
	Contributed services			$0 	$0 	$0 	$0 
	Deferred contributions (2)		$1,774 	$5,327 	$24,344	$21,308 
		Total revenue			$23,845 $17,200 $265,854$302,822 
													
													
Expenses													
	System access telecommunications	$5,243 	$6,333 	$68,280 $76,000 
	System administration			$2,531 	$3,885 	$29,766	$46,325 
	Office staff and supplies		$3,410 	$3,423 	$42,805 $41,072 
	Volunteer Coordination			$0 	$125 	$1,716 	$1,500 
	Administration and professional fees	$5,604 	$6,181 	$67,500 $71,532 
	Promotional and other costs		$9 	$0 	$3,956 	$0 
	Depreciation (note #2)			$2,294 	$15,101 $44,979	$60,091 
		Total expenses			$19,092 $35,048 $259,001$296,519 
													
Excess of revenue over expenses			$4,753 	(17,848)$6,853 	$6,303 
	Surplus, beginning of period		$50,368 $63,104 $48,267 $38,953 
													
Surplus, end of period				$55,120 $45,256	$55,120	$45,256 
													
																							
	Notes:												
		1)	Includes Funding Drive, Auction and Harvest Ride										
		2) 	Depreciation and Amortization adjusted in fourth quarter 
			for fully amortized assets										
													
																									
													
National Capital Freenet													
Balance Sheet													
Unaudited as at the period ended as stated; 	

								Actuals	Budget
								Dec-98	Dec-98
Assets													
	Cash							$50,120 $46,674 
	Other current assets					$251 	$252 
								$50,370 $46,926 
	Capital equipment							
		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			$240,748$291,523 
								$44,657 $12,551 
							
	Total assets						$95,028 $59,477 
													
												
Liabilities and Surplus													
	Accounts payable and accrued liabilities (3)		$6,300 	$8,438 
	Deferred contributions, net of amortization		$33,607 $5,782 
					
	Surplus							$55,120 $45,256 
								
	Total liabilities and surplus				$95,027 $59,476 
				
	Notes:												
		3)	Accrued Liabilities includes audit accrual and accrued 
			phone charges from Carleton University										
													
													
													
National Capital Freenet													
Statement of Changes in Financial Position													
Unaudited for the period ended as stated; 	

						Actuals	Budget	Actuals	Budget
						Dec-98	Dec-98	YTD1998	YTD1998
Operating activities													
	Excess of revenue over expenses		$4,753 	(17,848)$6,853 	$6,303 
	Items not involving cash:								
		Deferred contributions		($1,774)($5,327)(24,344)(21,308)
		Depreciation			$2,294 	$15,101 $44,979 $60,091 
													
	Net change in non-cash working capital items												
		Acc Rec & Prepaid Expenses	$84 	$84 	$1	$0 
		Acc Pay & accrued liab. (4)	$457 	(11,765)(5,242)	(14,478)
		Cash provided by operations	$5,814 	(19,755)$22,248 $30,608 
													
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		$5,814 	(19,755)$21,391 $10,608 
Cash, beginning of period			$44,305	$66,429	$28,728 $36,066 
													
Cash, end of period				$50,119 $46,674 $50,119	$46,674 
			
	Notes:												
		4) 	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