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

						Actuals	Budget	Actuals	Budget
						Oct-98	Oct-98	YTD1998	YTD1998
Revenue													
	Donations from members												
		Associated with registration	$3,294 	$4,454 	$31,707 $40,197 
		Associated with renewals (1)	$5,571 	$4,233 	$139,643$216,089 
			Total member donations	$8,865 	$8,687 	$171,350$256,286 
													
	Fundraising Activities												
		Corporate donations & sponsor.	$600 	$575 	$3,910 	$5,750 
		Other fundraising act. (2)	$9,204 	$0 	$34,827	$0 
			Total fundraising 	$9,804 	$575 	$38,737 $5,750 
													
	Grants and other revenues		$0 	$0 	$0 	$0 
	Contributed services			$0 	$0 	$0 	$0 
	Deferred contributions			$0 	$0 	$22,570 $15,981 
		Total revenue			$18,669 $9,262 	$232,657$278,017 
													
													
Expenses													
	System access telecommunications	$5,309 	$6,333 	$57,672	$63,333 
	System administration (note #3)		$0 	$3,885 	$25,308 $38,555 
	Office staff and supplies		$4,478 	$3,423 	$35,983 $34,226 
	Volunteer Coordination			$748 	$125 	$1,716 	$1,250 
	Administration and professional fees	$6,283 	$6,181 	$55,646 $59,170 
	Promotional and other costs (4)		$3,175 	$0 	$3,947 	$0 
	Depreciation				$0 	$0 	$42,685 $44,990 
		Total expenses			$19,992 $19,947 $222,955$241,524 
													
Excess of revenue over expenses			($1,323)(10,685)$9,702 	$36,493 
	Surplus, beginning of period		$59,292 $86,131	$48,267 $38,953 
													
Surplus, end of period				$57,969 $75,446	$57,969 $75,446 
													
																								
	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 
			in Sept 98 from Harvest ride										
		3)	No System Administrator on staff during the month										
		4) 	Promotional costs of $2,541 ($2,796 YTD) costs related 
			to Harvest Ride plus share owed to Citizens for Safe 
			Cycling of an estimated $634										
													
													
													
National Capital Freenet													
Balance Sheet													
For the period ended as stated		

								Actuals	Budget
								Oct-98	Oct-98
Assets								
	Cash							$51,756 $75,974 
	Other current assets					$419 	$420 
								$52,175 $76,394 
	Capital equipment (5)									
		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						$99,126	$104,046 
													
																									
Liabilities and Surplus													
	Accounts payable and accrued liabilities (6)		$5,776 	$17,490 
	Deferred contributions, net of amortization (5)		$35,381 $11,109 
													
	Surplus							$57,969 $75,446 
													
	Total liabilities and surplus				$99,126 $104,045 
													
	Notes:												
		5)	Capital differs to budget due to contributed capital
			being recieved after setting of budget										
		6)	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
						Oct-98	Oct-98	YTD1998	YTD1998
Operating activities													
	Excess of revenue over expenses		($1,323)(10,685)$9,702 	$36,493 
	Items not involving cash:												
		Deferred contributions		$0 	$0 	(22,570)(15,981)
		Depreciation			$0 	$0 	$42,685 $44,990 
													
	Net change in non-cash working capital items												
		Acc Rec & Prepaid Expenses	$84 	$84 	($167)	($168)
		Acc Pay & accrued liab. (7)	$1,268 	$2,713 	($5,766	($5,426)
		Cash provided by operations	$29 	($7,888)$23,884 $59,908 
													
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		$29 	($7,888)$23,028 $39,908 
Cash, beginning of period			$51,727 $83,862	$28,728 $36,066 
													
Cash, end of period				$51,756 $75,974	$51,756	$75,974 
	
	Notes:												
		7)	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