See http://forums.slcds.info//viewtopic.php?f=2&t=1922 for a non-normative (unofficial) index of the action items and main points from this meeting.
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Transcript of 14 June 2008 Representative Assembly Meeting
conducted at the Neufreistadt Rathaus
Recorded by Jamie Palisades (= "You", below)
Topic separators "----" inserted to separate agenda items
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Note this meeting was not quorate, but we conducted a useful informal discussion of the CDS budget anway.
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[informal transcript with permission]
[2008/06/14 8:55] You: Well, we are starting to see RA fatigue around the edges :) So we will see who shows up. I'll be mildly embarassed, but only mildly, if quorum fails :)
[2008/06/14 8:56] You: I am sending my TP reminders now
[2008/06/14 9:01] Jamie Palisades smiles mildly - I have send my IM reminder to each of the five, none of who appears online. Five because Gwyn sent regrets.
[2008/06/14 9:01] Sudane Erato: :)
[2008/06/14 9:03] Sudane Erato: hi Danton :)
[2008/06/14 9:03] Danton Sideways: Hi Jamie and Sudane
[2008/06/14 9:03] You: Good morning Danton - we are just laying side bets on whether our threat to talk about money today drove everyone off :D
[2008/06/14 9:03] Sudane Erato: hehe
[2008/06/14 9:03] Danton Sideways: Jamie is (away) (lost in IM) judging from tags
[2008/06/14 9:04] Sudane Erato: :)
[2008/06/14 9:04] You: done with that now :)
[2008/06/14 9:04] Danton Sideways: I would have thought that would bring them in droves
[2008/06/14 9:04] Sudane Erato: hehe... yeah right
* * *
[2008/06/14 9:14] You: I see none of our esteemed coleagues online and have received no e-mail or IM answers, so with a few more minutes I will waive a scepter and declare this one a bust :) with apologies to Sudane and the citizenry ...
[2008/06/14 9:14] Sudane Erato: np here :)
[2008/06/14 9:15] Sudane Erato: hey FR :)
[2008/06/14 9:15] Danton Sideways: Hi FR
[2008/06/14 9:18] Sudane Erato: hi Jon :)
[2008/06/14 9:18] You: Nice of you folks to come - but I note as of 09h17 SLT that only two of the 7 RA members appear inworld. I have three suggestions. :)
* * *
[2008/06/14 9:19] Jon Seattle: Hi Sudane, Jamie, Danton, Pat, Flying
[2008/06/14 9:19] You: :D
[2008/06/14 9:19] Danton Sideways: Hi Jon
[2008/06/14 9:19] Flyingroc Chung: hey jon
[2008/06/14 9:19] Sudane Erato: heavy duty discussion going on here :)
[2008/06/14 9:19] Patroklus Murakami threw his copy of 'Capital' away a long time ago...
[2008/06/14 9:19] Danton Sideways: well of course if we reach "the singularity" all problems dissappear
[2008/06/14 9:19] You: suggestion #1, we agree this is a bust at 09h20
[2008/06/14 9:19] You: :)
[2008/06/14 9:20] Patroklus Murakami: oh, and we're having such fun!
[2008/06/14 9:20] Sudane Erato: its 9:20
[2008/06/14 9:20] Jon Seattle: well, most of the deciders are not here :)
[2008/06/14 9:20] Patroklus Murakami: so... why are our esteemed RA members not here?
[2008/06/14 9:20] Flyingroc Chung: it's 9:20?
[2008/06/14 9:20] Jon Seattle: yes
[2008/06/14 9:20] Patroklus Murakami: 1) end of term blues?
[2008/06/14 9:20] Flyingroc Chung: I dont wake up this early for *real* work... sigh
[2008/06/14 9:20] Patroklus Murakami: 2) fear of electoral reform?
[2008/06/14 9:20] Sudane Erato: hehe
[2008/06/14 9:21] Patroklus Murakami: 3) technical difficulties?
[2008/06/14 9:21] Danton Sideways: lol
[2008/06/14 9:21] You: Ha ha - suggestion #2, we ask Sudane if she's willing to proceed - that being what most of us came to hear, and the presentation going into the record ANYWAY
[2008/06/14 9:21] Danton Sideways: do have the right?
[2008/06/14 9:21] Sudane Erato: thats fine with me too
[2008/06/14 9:21] Danton Sideways: you*
[2008/06/14 9:21] Patroklus Murakami: i'm always interested to hear what sudane has to say :)
[2008/06/14 9:21] You: (if she is willing, given that she was kind enough to show up, unlike some of our colleagues)
[2008/06/14 9:21] Jon Seattle: Fine with me :)
[2008/06/14 9:21] You: @ Danton - yes but not as the official RA :)
[2008/06/14 9:22] Danton Sideways: "on the record"?
[2008/06/14 9:22] You: suggestion #3, I am going to start scheduling meetings BIweekly as I threatened previously :)
[2008/06/14 9:22] Flyingroc Chung: Just means we'll post the transcript anyway
[2008/06/14 9:23] Danton Sideways: oops better watch what I say then :)
[2008/06/14 9:23] Sudane Erato: :)
[2008/06/14 9:23] You: biweekly will have some other effects, about which I'll comment in the forums :) and my colleaguges can overrule me if they like ... if they show up
[2008/06/14 9:24] You: @danton again - yes, exactly :)
[2008/06/14 9:24] You: so
[2008/06/14 9:24] Flyingroc Chung: we could just overrule you by showing up once a week
[2008/06/14 9:24] Sudane Erato: hehe
[2008/06/14 9:24] Patroklus Murakami: well, you're only committed to having biweekly meetings in the constitution. will you be able to enact electoral reform in time for the elections tho if u go biweekly?
[2008/06/14 9:24] You: :) I declare this meeting failed for lack of quorum - and invite all to remain to hear Sudane's helpful informal presentation
[2008/06/14 9:25] Patroklus Murakami: clock is ticking, tick-tock tick-tock....
[2008/06/14 9:25] You: Pat I would say "no" offhand, but have not counted days
[2008/06/14 9:25] Sudane Erato: kk
[2008/06/14 9:25] You: :)
[2008/06/14 9:25] Sudane Erato: should we start?
[2008/06/14 9:25] Jon Seattle: Sure :)
[2008/06/14 9:25] Sudane Erato: ok.... well...
[2008/06/14 9:26] Sudane Erato: this presentation is really to do with what I'd call a budget framework
[2008/06/14 9:26] Jamie Palisades smiles and listens gratefully
[2008/06/14 9:26] Sudane Erato: setting the basic framework of what money we have... where the different parts go...
[2008/06/14 9:26] Sudane Erato: and how much we have available for "operational discretionary" budget
[2008/06/14 9:27] Sudane Erato: i don't really attempt to go to that
[2008/06/14 9:27] Sudane Erato: since the discretionary budget comes from priorities that the people have
[2008/06/14 9:27] Sudane Erato: I'm just the "money techie"
[2008/06/14 9:27] Sudane Erato: so...
[2008/06/14 9:28] Sudane Erato: we start at the obvious begginning... how much money do we have?
[2008/06/14 9:28] Sudane Erato: slide one
--- slide 1 ---
[attachment=2]14june08Slide1.PNG[/attachment]
[2008/06/14 9:28] Sudane Erato: i trust everyone can see?
[2008/06/14 9:28] Patroklus Murakami: yes
[2008/06/14 9:28] Sudane Erato: rezzed ok?
[2008/06/14 9:29] Sudane Erato: great
[2008/06/14 9:29] Jon Seattle: looks good.
[2008/06/14 9:29] You: (we will post the images too)
[2008/06/14 9:29] Sudane Erato: when we first started Neualtenburg...
[2008/06/14 9:29] Flyingroc Chung: not me, but I'm having technical difficultires
[2008/06/14 9:29] Sudane Erato: the budget was a total crap shoot
[2008/06/14 9:29] Sudane Erato: cause we had no experience
[2008/06/14 9:29] Sudane Erato: now we have the huge benefit of experience...
[2008/06/14 9:30] Sudane Erato: and I feel a primary value is that the revenue projection be based on experience...
[2008/06/14 9:30] Sudane Erato: rather than what a sim "MIGHT" bring in... such as what we've discussed for the LV fees
[2008/06/14 9:30] Sudane Erato: so
[2008/06/14 9:31] Sudane Erato: you can see, if you can see...
[2008/06/14 9:31] Sudane Erato: that I've looked at Nove thru April to see what we collect in tier
[2008/06/14 9:31] Sudane Erato: and base all our talk on monthly numbers... averages
[2008/06/14 9:32] Sudane Erato: turns out that during that time... we averaged US$930 collections per month
[2008/06/14 9:32] Sudane Erato: now... what is that time interesting?
[2008/06/14 9:32] Sudane Erato: well, the first month of tier collections for AM was Dec
[2008/06/14 9:33] Sudane Erato: meaning that 5 of th 6 months, we were collecting for 3 sims
[2008/06/14 9:33] Sudane Erato: thats almost exactly analygous to the situation now
[2008/06/14 9:33] Sudane Erato: where we're about to start collecting for 4 sims
[2008/06/14 9:33] Sudane Erato: so...
[2008/06/14 9:33] Sudane Erato: I think its a fair assumption to project revenues of 930 x 4/3
[2008/06/14 9:34] Jamie Palisades nods
[2008/06/14 9:34] Sudane Erato: or US$1240/month
[2008/06/14 9:34] Jon Seattle: makes sense
[2008/06/14 9:34] Sudane Erato: all makes ense?
[2008/06/14 9:34] Sudane Erato: good
[2008/06/14 9:34] Sudane Erato: next
---- slide 2----
[attachment=1]14june08Slide2.PNG[/attachment]
[2008/06/14 9:35] Sudane Erato: absolute first thing to determine is our fixed costs... we don't exist if we don't pay tier
[2008/06/14 9:35] Sudane Erato: and thankfully, at this time its our only fixed cost
[2008/06/14 9:35] Sudane Erato: so I've listed the tier costs there
[2008/06/14 9:35] Sudane Erato: including LV, it will be US980... or 79%
[2008/06/14 9:36] Sudane Erato: 79% of revenues
[2008/06/14 9:36] Sudane Erato: that leaves 21% for the next step
[2008/06/14 9:37] Sudane Erato: kk... the first part of the next step is to establish a agreement... a community decision... that we want our reserves to grow
[2008/06/14 9:37] Sudane Erato: some might say... lets just keep our budget in the black
[2008/06/14 9:37] Sudane Erato: i propose that if we can, we plan to do better than that
----slide 3----
[attachment=0]14june08Slide3.PNG[/attachment]
[2008/06/14 9:38] Sudane Erato: obviously, most communities in RL can't manage to do better
[2008/06/14 9:38] Sudane Erato: but I think that we can... and in fact, we have for our whole existence
[2008/06/14 9:38] Sudane Erato: only... without a budget policy
[2008/06/14 9:38] Sudane Erato: if we're looking at doing a real budget
[2008/06/14 9:39] Sudane Erato: I think that some conviction needs to be there to set aside for reserves
[2008/06/14 9:39] Sudane Erato: i've listed the justifications
[2008/06/14 9:39] Sudane Erato: can everyone read them?
[2008/06/14 9:39] Jon Seattle: is it appropriate also to count the value of assets?
[2008/06/14 9:39] Flyingroc Chung: how much reserves do we have currently?
[2008/06/14 9:39] Jon Seattle: yes
[2008/06/14 9:39] Sudane Erato: we have about US$5000
[2008/06/14 9:40] Jon Seattle: after the new island purchase?
[2008/06/14 9:40] Sudane Erato: assets... hmm... thats an interesting question in SL
[2008/06/14 9:40] Sudane Erato: no... briefly, the asset amount will dip
[2008/06/14 9:40] Sudane Erato: and then go back up as the land is sold
[2008/06/14 9:41] Sudane Erato: from experience we know that the land will get paid for in probably less than 2 months
[2008/06/14 9:41] Patroklus Murakami: can read em
[2008/06/14 9:41] You: hm
[2008/06/14 9:41] Sudane Erato: what they call "fixed" assets... alnd, buildings, software...
[2008/06/14 9:41] Sudane Erato: *land
[2008/06/14 9:41] Sudane Erato: thats much more a problem to value
[2008/06/14 9:42] Sudane Erato: sime could be resold
[2008/06/14 9:42] You: assuming, of course,that the 42-small-parcels lot sells *like* the 20-big-ones did
[2008/06/14 9:42] Sudane Erato: yes... but i predict it will, eventually
[2008/06/14 9:42] Jon Seattle: although I would assume that each island is worth at least $500, very conservatively
[2008/06/14 9:42] Sudane Erato: and i have not factored in the "profit" we gain by reselling abandoned land
[2008/06/14 9:42] Sudane Erato: yes... true Jon
[2008/06/14 9:43] Sudane Erato: but... its like your home...
[2008/06/14 9:43] Sudane Erato: you're unlikely to sell it and retrieve your money
[2008/06/14 9:43] Jon Seattle: of course.. we would not like to sell :) just counting capital assets.
[2008/06/14 9:43] Sudane Erato: yeah... exactly
[2008/06/14 9:43] Sudane Erato: and some of that value surely does relate to my list there
[2008/06/14 9:44] Sudane Erato: in extremeity... we COULD sell a sim..
[2008/06/14 9:44] Sudane Erato: although that cuts our revenue base
[2008/06/14 9:44] Flyingroc Chung: can you explain what "surity for our commiments" mena?
[2008/06/14 9:44] You: hm - your list gives us some concepts - but does not much suggest a methodolgy for "how much ie enough"
[2008/06/14 9:44] Sudane Erato: anyway... I strongly invite additions to my list here
[2008/06/14 9:44] You: I will wait for FR's Q, I guess :)
[2008/06/14 9:44] Sudane Erato: "surity for our commitments"... hmm
[2008/06/14 9:44] You: then I'd like to get back to "amount"
[2008/06/14 9:45] Sudane Erato: i mean basically that with the money in hand, we can guarantee performance..
[2008/06/14 9:45] Sudane Erato: related to the other point
[2008/06/14 9:45] Sudane Erato: like things placed in escrow to gauarentee delivery of something
[2008/06/14 9:46] Sudane Erato: my over all point here is that we should have some policy to budget in such a way that this "reserve" grows
[2008/06/14 9:46] You: Su, I unberstand the surety and bank-ish idea, but no-one is pursuing that at present, nor even in prospect, correct?
[2008/06/14 9:46] Sudane Erato: if possible
[2008/06/14 9:46] Sudane Erato: pursuing that?
[2008/06/14 9:46] Sudane Erato: it simply "is"
[2008/06/14 9:47] Sudane Erato: and i'd like it to be existing through a conscious decision on the part of the community... rather than just by chance
[2008/06/14 9:47] Sudane Erato: hi MT :)
[2008/06/14 9:47] You: Sorry, Mrs. Clinton: what "is" the "is" there?
[2008/06/14 9:48] You: :D
[2008/06/14 9:48] Sudane Erato: anyway... like I said... these points can be discussed more... I'd love a finance committee to do this with
[2008/06/14 9:48] You: And hello MT -- we declared the meeting a loss but have been benefitting from Sudane's informal budget presentation anyway
[2008/06/14 9:48] Flyingroc Chung: so we currently have enough reserves to pay for several months of tier, or several additional sims
[2008/06/14 9:48] Sudane Erato: yes
[2008/06/14 9:48] Jon Seattle: Ah, Jamie was talking about potential public banking enterprise -- currently not allowed as I understand it
[2008/06/14 9:48] Sudane Erato: that's right
[2008/06/14 9:49] Sudane Erato: yes... potential banking sponsorship is one area that would benefit
[2008/06/14 9:49] Sudane Erato: and..
[2008/06/14 9:49] Sudane Erato: its banning is only temporary, i'd suggest
[2008/06/14 9:50] Sudane Erato: anyway... the justification for this is a on going topic
[2008/06/14 9:50] Sudane Erato: so let me move on
[2008/06/14 9:50] You: um Su?
[2008/06/14 9:50] Sudane Erato: yes?
[2008/06/14 9:50] You: One quick Q on reserves
[2008/06/14 9:50] Sudane Erato: sure
[2008/06/14 9:50] You: Just checking to be sure I did not miss a point ...
[2008/06/14 9:51] You: ... I do not see how your points, meritorious though they are, really point to a *methodology* for determing a"safe" minimum reserve *amount*. Did I miss something?
[2008/06/14 9:51] You: Because ultimately any decision wll be ... a number :)
[2008/06/14 9:52] Sudane Erato: thats correct... I have no proposal for a methodolgy
[2008/06/14 9:52] Flyingroc Chung: what is step 3b then?
* * *
[continues in next post]