Nyx Net  
  
                       Treasurer's Report  
  
                          May 31, 1998  
 
------------------------------------------------------------  
The updated income & expense report, balance sheet and average
monthly income and expenditure for 1998 are available at
http://www.nyx.net/~board/home.html
-------------------------------------------------------------  
1998: As predicted, all our actual moving expenses this spring
were covered by the $2,000 from the prior landlord.  However, we
did end up buying two DSU's (one we shall resell) to get Nyx back
up after the move.  That came out of our own money.

We have put a lot of money into hardware this spring.  We added
Iris, the newserver, Erebus, the administrative machine which
will drive the Exabyte tape drive.  We have also purchased some
harddrives for the machines.  The Portmaster, Wellfleet router, a
filing cabinet, several harddrives and miscellaneous other
hardware bits were all donated.

Still the biggest drain on our finances is plain old operating
expenses, like the cost of the frame relay, the Internet access,
the phone bills, rent.  I am currently working on getting an
exemption from Colorado sales tax which would knock about $50 per
month off those expenses.

However, as you can see from the detailed reports on the
webpages, Nyx Net is bleeding pretty badly.  The monthly income
and expense sheets show that monthly donations are nowhere near
our monthly expenses.  The balance sheet shows a higher net worth
but that is because a lot of it migrated from cash to hardware. 
(Can't pay bills with hardware.)  I have twice tapped into the
Money Market account to pay bills and will probably have to do so
again at the end of June.
  
This is not yet a "death of Nyx" situation but we do need to
increase revenue.  Some people have suggested before that we
apply for grant money.  We will be doing so.  (We could not
really do so before we had the 501(c)(3) and a stable address.) 
HOWEVER, most sources of grant money provide grants for specific
projects, not operating expenses.  We have several projects in
mind that would be perfect for grants and donations, among them
are: an outreach program to give Nyx-ready 486's to low income
and disabled people and a NyxFest conference.  But we need to
come up with other ideas for generating revenue.

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     Projected Budget     June - December 1998 
  
     Current Funds:      
               Checking Account                   $ 3,583
               Money Market Account               $ 8,791
                                                  -------
                                                  $11,314
      
     Monthly Operating Expenses: $2,500/mo * 6 =  $15,000  
                                                  -------  
                                                  $15,000  

                                                  ($3,686)

     Currently donations are running about $700
     per month: $700 * 6                          $ 4,200   
          
At this rate Nyx Net would be broke by January 1999.  If we do
really drop below $7,500 (the 3 month reserve)  -- which could
happen in 2 months -- you will hear the "death of Nyx" knell, but
I hope I do not have to resort to that.

Darlene Cypser (dcypser@nyx.net)
Treasurer, Nyx Net