General Manager's Report for BoD Meeting 27Mar03

Financial Statements to 28Feb03 (please see attached).  These are
"comparative" statements showing Trent Radio's financial position six
months into the current fiscal year, compared to the position one year
ago.

Trillium Spending Report: (please see attached chart) Spending is
summarised according to the Agreement /w Trillium.  The object of the
chart is to show our obligations and performance as to making
expenditures on certain classes of items during certain periods.

Keeping in mind that we will report Year 02 spending after that year has
concluded, the only major deviation will be being about $5,000 or ten
weeks behind in our spending on the Digital Ingest Clerk by the end of
Year 01. I do not believe this will be an extremely serious problem.
Overall I think it looks good.

ING Account:
Following an inquiry by Anne Stevenson as to a better place to earn a
better rate of interest on Trent Radio's deposits, it is recommended
that Trent Radio open a "Business Investment Savings Account" at ING
which currently pays 2.75% more than twice as much as the Community
Account at Bank of Montreal.

ING accounts are eligible investments for charities, and funds up to
$60,000 are eligible for coverage by the Canadian Deposit Insurance
Corporation.

The account would be operated over the Internet, and will provide from
transfers to and from the Bank of Montreal operating account only.
Payments and cash withdrawals are not permitted and so remain protected
by the "two signatures" rule. protected

Rough Plan for the 2003 Summer (see attached)
This provides a guide to operations during the summer period, and
requires the Board's approval to be implemented.

Equipment Breakdown:
Both CD burners (they are of the same type and were purchased at the
same time) quit this passed weekend.  They have been replaced by faster
more stable devices, at a cost of about $80.00 each

Neighbourhood Rezoning:
There is an application pending to re-zone 751 George Street N, for
usages not in accord with the City of Peterborough's Official Plan.

Cancellation of Brokered Programming:
We have been advised that the current arrangement has been cancelled
effect the last day of the April broadcast month.  They programme will
be airing on CKPT.  For five years this programme has aired here and
brought a very different perspective to our airwaves.  It also was
crucial in paying down our long-term debt.  I shall miss it.

Sincerely,  John K Muir VP & GM