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

						Actuals	Budget	Actuals	Budget
						May-99	May-99	YTD1999	YTD1999
Revenue													
	Donations from members												
		Associated with registration	$1,902 	$3,000 	$13,255 $15,000 
		Associated with renewals (1)	$15,720	$24,000	$99,416	$119,800 
			Total member donations	$17,621 $27,000	$112,672$134,800 
													
	Fundraising Activities												
		Corporate donations		$320 	$400 	$1,251 	$2,000 
		Other fundraising activities	$49 	$0 	$3,441 	$0 
			Total fundraising 	$369 	$400 	$4,692 	$2,000 
													
	Grants and other revenues		$0 	$0 	$49,830	$0 
	Deferred contributions			$0 	$0 	$5,104 	$3,248 
		Total revenue			$17,990	$27,400	$172,298$140,048 
													
													
Expenses													
	System access telecommunications	$5,307 	$5,300 	$26,496	$26,500 
	System administration			$2,890 	$3,800 	$14,091	$19,000 
	Office staff and supplies		$3,454 	$3,380 	$16,921	$16,900 
	Volunteer Coordination			$0 	$125 	$1,327 	$625 
	Administration and professional fees	$5,979 	$6,042 	$27,882	$30,210 
	Promotional and other costs		$0 	$0 	$18,701	$0 
	Depreciation				$0 	$0 	$7,080 	$6,242 
		Total expenses			$17,630 $18,647 $112,498$99,477 
													
Excess of revenue over expenses			$361 	$8,753 	$59,800	$40,571 
	Surplus, beginning of period		$113,046$85,425	$53,607	$53,607 
													
Surplus, end of period				$113,407$94,178	$113,407$94,178 
													
	Notes:												
		1) Renewal Donations have significantly decreased against 
			expectations during the month											
													
													
													
National Capital Freenet													
Balance Sheet													
For the period ended as stated	

								Actuals	Budget
								May-99	May-99
Assets													
	Cash (2)						$106,459$82,525 
	Other current assets					$840 	$840 
								$107,299$83,365 
	Capital equipment												
		Computer equipment				$143,414$138,409 
		Systems software				$54,779	$48,784 
		Telecommunications equipment			$101,575$101,575 
		Business equipment				$7,033 	$7,033 
								$306,800$295,801 
		Less accumulated depreciation			$248,506$247,667 
								$58,294	$48,133 
													
	Total assets						$165,593$131,498 
													
													
													
Liabilities and Surplus													
	Accounts payable and accrued liabilities		$2,962 	$2,240 
	Unearned Revenues					$0 	$0 
	Deferred contributions, net of amortization		$49,223	$35,080 
													
	Surplus							$113,407$94,178 
													
	Total liabilities and surplus				$165,593$131,498 
													
	Notes:												
	2) Cash is higher than expected predominantly due to VolNet and 
		Urban Cap Contracts												
													
			
									
National Capital Freenet													
Statement of Changes in Financial Position													
For the period ended as stated	

						Actuals	Budget	Actuals	Budget
						May-99	May-99	YTD1999	YTD1999
Operating activities													
	Excess of revenue over expenses		$361 	$8,753 	$59,800 $40,571 
	Items not involving cash:											
		Deferred contributions		$0 	$0 	($5,104)($3,248)
		Depreciation			$0 	$0 	$7,080 	$6,242 
													
	Net change in non-cash working capital items												
		Acc Rec & Prepaid Expenses	$84 	$84 	($589)	($589)
		Acc Pay & accrued liabilities	($3,245)$580 	($4,749)($5,472)
		Cash provided by operations	($2,800)$9,417 	$56,438 $37,504 
													
Investing activities													
	Purchase of equipment for cash		$0 	$0 	$0 	$5,000 
		Cash applied to investing	$0 	$0 	$0 	$5,000 
													
Increase in cash during the period		($2,800	$9,417 	$56,438	$32,504 
Cash, beginning of period			$109,258$73,108	$50,021	$50,021 
													
Cash, end of period				$106,458$82,525	$106,458$82,525 
--
Jeff Bossert (bossert@freenet.carleton.ca)
:
Vice-President, Treasurer and Director, National Capital FreeNet
Senior Engineer, Comgate Engineering