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

						Actuals	Budget	Actuals	Budget
						Aug-97	Aug-97	YTD1997	YTD1997
Revenue													
	Donations from members (note#1)												
		Associated with registration	$3,790 	$6,000 	$36,293 $48,000 
		Associated with renewals	$4,920 	$3,000 	$165,967$177,250 
			Total member donations	$8,710 	$9,000 	$202,260$225,250 
													
	Fundraising Activities												
		Line Sponsorships		$0 	$1,600 	$2,450 	$12,800 
		Corporate donations		$100 	$0 	$601 	$0 
		Auctions			$0 	$0 	$866 	$0 
		Sale of promotional items 	$95 	$0 	$738 	$0 
		Other activities		$0 	$0 	$0 	$0 
			Total fundraising 	$195 	$1,600 	$4,655 	$12,800 
													
	Government grants 			$0 	$0 	$0 	$0 
	Other revenues				$0 	$0 	$0 	$0 
	Deferred contributions			$0 	$0 	$14,462 $15,918 
		Total revenue			$8,905 	$10,600 $221,378$253,968 
													
													
Expenses													
	System access telecommunications	$6,182 	$5,819 	$48,053 $46,550 
	System administration (note #2)		$3,736 	$5,349 	$27,925 $42,795 
	Office staff and supplies		$3,188 	$2,878 	$26,218 $23,020 
	Volunteer Coordination			$0 	$50 	$230 	$400 
	Administration and professional fees	$6,727 	$5,805 	$50,944 $46,440 
	Fundraising and promotional costs	$0 	$0 	$4 	$0 
	Public events and access		$63 	$0 	$542 	$0 
	Costs of Grants				$0 	$0 	$0 	$0 
	Depreciation				$0 	$0 	$34,492 $36,501 
		Total expenses			$19,895 $19,901 $188,409$195,706 
													
Excess of revenue over expenses			(10,990)(9,301)	$32,969 $58,263 
	Surplus, beginning of period		$117,590$123,743$73,631 $56,180 
													
Surplus, end of period				$106,599$114,443$106,599$114,443 
													
	Notes:												
		#1 Year to Date donations are lower than expected as actual 
		receipts dropped off in May as opposed to June as Budgeted										

		#2 Systems budget allowed for additional systems upgrading.  
		These contracts have not been let.										
													
																									
													
National Capital Freenet													
Balance Sheet													
For the period ended as stated			

								Actuals	Budget
								Aug-97	Aug-97
Assets													
	Cash (note #3)						$81,415 $71,354 
	Other current assets					$588 	$850 
								$82,003 $72,204 
	Capital equipment												
		Computer equipment				$123,517$122,780 
		Systems software				$43,784 $43,784 
		Telecommunications equipment			$112,976$117,508 
		Business equipment				$8,097 	$11,833 
								$288,374$295,905 
		Less accumulated depreciation			$199,620$202,870 
								$88,754 $93,035 
													
	Total assets						$170,757$165,238 
													
													
													
Liabilities and Surplus													
	Accounts payable and accrued liabilities (note #4)	$23,598 $12,616 
													
	Deferred contributions, net of amortization		$40,560 $38,180 
													
	Surplus							$106,599$114,443 
													
	Total liabilities and surplus				$170,757$165,238 
													
	Notes:												
		#3 Cash exceeds Budget due to Actual opening balance as of 
		Jan/97 being higher than Budget as well as certain invoices 
		being accrued for have not yet been received (see note #4)										

		#4 Account Payable are higher than expected as the ONET fee 
		invoice has not yet been received.										
			Payables include: 										
			   ONET Fee, Carleton University	$18,680 								
			   Audit Fee, KPMG			$2,400 								
			   Office lines, Carleton University	$2,640 								
								
					
													
National Capital Freenet													
Statement of Changes in Financial Position													
For the period ended as stated			

						Actuals	Budget	Actuals	Budget
						Aug-97	Aug-97	YTD1997	YTD1997
Operating activities													
	Excess of revenue over expenses		(10,990)(9,301)	$32,969 $58,263 
	Items not involving cash:												
		Deferred contributions		$0 	$0 	(14,462)(15,918)
		Depreciation			$0 	$0 	$34,492 $36,501 
													
	Net change in non-cash working capital items												
		Acc Rec & Prepaid Expenses	$84 	$130 	(336)	(802)
		Acc Pay & accrued liabilities	$2,413 	$2,199 	$11,949 (1,582)
		Cash provided by operations	(8,493)(6,972)	$64,612 $76,460 
													
Investing activities													
	Purchase of equipment for cash		$0 	$0 	$1,564 	$9,800 
		Cash applied to investing 	$0 	$0 	$1,564 	$9,800 
													
Increase in cash during the period		(8,493)	(6,972)	$63,048 $66,660 
Cash, beginning of period			$89,909 $78,325 $18,368 $4,693 
													
Cash, end of period				$81,416 $71,354 $81,416 $71,354 

--
Jeff Bossert (bossert@freenet.carleton.ca)
:
Treasurer and Director, National Capital FreeNet
Senior Engineer, Comgate Engineering