Chebucto Community Net Society

Statement of Revenues & Expenses
For Period Ending December 31, 1996

The following financial statement was prepared by Blaine Murphy April 23, 1997. An audit will be performed in the coming months.


   Membership Dues & Donations            $ 91,620.27
   Contract Revenue (Chebucto Suite)        34,020.00 
   Fundraising Revenue                         521.00  
   Contributions in Kind (Note 2)           47,400.00
TOTAL REVENUE                             $173,561.27


Operating & Development Expenses

   Administrative Salaries                $ 10,579.84
   Development Salaries                      6,094.09
   Contract Expense                         24,927.95
   Employee Benefits                         3,363.19
   Fundraising and Promotion                 1,357.37
   Internet Connection Fees                 14,056.28
   Office Expenses.............
      Office Phone             $285.01
      Office Supplies           131.72
      Office Furniture          136.58
      Postage                   371.95
      Long Distance & Fax       125.77
      Printing                  148.53......1,999.56 
   Telephone Fees (modem lines)            43,371.15
   Travel                                   3,320.26
   Equipment Purchases                        456.37
Total Operating & Development Expenses   $109,357.78 

Contributed Services

   Equipment Rental                      $ 11,100.00
   Facilities Management                   18,000.00
   Office Rent                              4,800.00
   Operations Management                   13,500.00
Total Contributed Services               $ 47,400.00
TOTAL REVENUE                            $173,561.27
 LESS TOTAL EXPENSES                      156,757.78
NET SURPLUS/(DEFICIT)                    $ 17,435.21

Balance Sheet, December 31st, 1996


   Bank                                   $ 13,019.56
   Prepaid Expenses                          3,521.97
   Accounts Receivable                         893.68
TOTAL ASSETS                              $ 17,435.21

Liabilities & Surplus

   Surplus                                $ 17,435.21 
TOTAL LIABILITIES & SURPLUS               $ 17,435.21


Note 1 Accounting Policies

The Society is registered as a non-profit organization.

The cost of fixed assets acquired for the operation of the Chebucto Community Net are expensed in the year of acquisition. Contributions in kind to the society are reflected in the financial statements where it is possible to estimate an equivalent market value of services provided.

Commercial discounts are reflected in the financial statements where services provided to the Society under contract are discounted in support of the aims of the Society. The discounts are calculated as being the difference between the estimated commercial value of the contracts and the amounts paid. Prior years have been restated to reflect these discounts.

Note 2 Contributions in Kind

During the period the following contributions in kind were recognized.

       Dalhousie University                 $ 37,800.00
       Sun Microsystems                        9,600.00
                                            $ 47,400.00

In addition to the above contributions the society benefited from additional core support in the form of contracts for services at substantially below commercial value.

ISIS provided our network connection until October 1996, when our contract expired. The contract had an estimated commercial value of $16,740.00 our cost was $3,313.68. This represents a contribution of $13,426.32. Since October Chebucto Community Net has been provided an Internet connection through Interuniversity Services Inc at an amount of approximately $1,200.00 per month.