The meeting started at 9:02pm.

A minute of silence was observed.

We wish Dan a fond farewell, as he leaves us temporarily, to enter Marine Corps training. May he come back safe and sound. Ooorah!

We discussed how to handle depreciation in our new system. To keep things zero sum, when anyone enters the collective, they will be charged their share of the current value of the assets and that amount will be ditributed to the other members of the collective. When someone exits the collective, their share of the then current value of the assets will be calulated and the remaining members of the collective will "collectively" pay that amount to the person leaving.

The asset accounts will not be zero sum accounts. When we purchase a depreciable item, an account will be created and it's balance set to the purchase price of the item. It will then be depreciated until it hits zero. A single separate asset account will be created to contain the value of items we purchase but don't depreciate. All the asset accounts will be used to calculate income or outgoing shares to be paid in or out.

We determined that ste does not need to recoup any asset value from the current members of the collective, as a result of our leaving bank.

The meeting adjourned at 9:56pm.

-- ShaunErickson - 16 Jan 2004