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Revised Unit value Reports



Oops.  Please ignore the last reports (release .01).  Here, I have
attached the most recent and accurate version.

Hi.

I've attached two reports reflecting unit value accounting.

The basic idea is that the club's equity is allocated through the
purchase of shares (valuation units in NAICese) at each meeting.  The
'share' price is determined immediately preceeding each meeting,
according to current stock prices, etc. (as reflected in the Valuation
Statement).

The first report (Valuation Statement) reflects current club value, and
the calculated price of current shares (VAs).  Basically the current
value of all assets is divided by the total number of shares owned by
all members to derive current share price.  This price is then used for
purchases at the next meeting.

The Individual Valuation Units Control Ledger is run after each meeting
and shows the following for each member::
- Cost of club shares (VAs) from the Valuation Statement
- Member contribution ($s)
- Total contributions to date
- Total contributions paid including re-investments (i.e. including
dividend distributed to members and re-invested - for tax purposes)
- Shares (VAs) purchased at the meeting (e.g. $140 bought 13.99 shares
at $10.009 / share)
- Total shares (VAs) purchased to date (reflects ownership of club)

These are standard reports as proposed by NAIC, and are detailed in 'The

Book' pp.213-216.  I have used last meeting as t0.  With this we should
now be able to allow variable contribution levels - of course limits
also need to be set.

I would like to distribute these by e-mail immediately before and after
each meeting.

Seeya guys at the next meeting.  let me know of any questions, issues,
etc.

--Matt
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Matt(hew) Olson - NTE        | Voice:  703/689-7685
Global One Communications    | Fax:    703/689-7411
12490 Sunrise Valley Drive   | Page:   301/664-0687
Mail Stop: VARESB0216        | email:  matt.olson@globalone.net
Reston, VA 20196  USA        |
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Title: Unit Cost Reports

6-08-97


Valuation Statement - 6/07/97          
           
           
Security Shares Curr Price Cost Basis Gain/Loss Balance
Alza 41 30 $1,248 -$18 $1,230
Cisco 37 64 15/16 $2,516 -$113 $2,403
Home Depot 24 65 3/8 $1,380 $189 $1,569
PoppaJohns 41 33 $1,146 $208 $1,353
Wackenhut 44 20 1/4 $777 $114 $891
Cash- Ceres 57.88 1 $58 $0 $58
Cash - Presidential 844 1 $844 $0 $844
Total Investments     $7,968 $380 $8,348
Number of Valuation Units         834
Value of each Unit         $10.009
Number of units / $10 on 6/8/97         $0.999
           
Individual Valuation Units Control Ledger              
  Date Value/unit Paid Paid to Date Paid to date incl Re-invest Val units purchase Total val units
Al Sitterson 6/8/97 $10.009 $140 $140 $140 13.99 13.99
               
David Parnigoni 6/8/97 $10.009 $80 $1,020 $1,020 7.99 103.83
               
Gary Walker 6/8/97 $10.009 $80 $1,020 $1,020 7.99 103.83
               
Greg May 6/8/97 $10.009 $80 $1,020 $1,020 7.99 103.83
               
Gregory Gainer 6/8/97 $10.009 $80 $1,020 $1,020 7.99 103.83
               
Jim O'Connor 6/8/97 $10.009 $80 $1,020 $1,020 7.99 103.83
               
Joe Thomas 6/8/97 $10.009 $80 $1,020 $1,020 7.99 103.83
               
Matt Olson 6/8/97 $10.009 $80 $1,020 $1,020 7.99 103.83
               
Mike Hughes 6/8/97 $10.009 $360 $1,020 $1,020 35.97 103.25
               
Sean Thomas 6/8/97 $10.009 $80 $1,020 $1,020 7.99 103.83
               
Sharon Uliana 6/8/97 $10.009 $600 $600 $600 59.95 59.95
Total as of: 6/8/97 $10.009 $1,740 $9,920 $9,920 173.84 1007.82


Last Updated on 6/20/97
By Matt Olson
Email: Matt.Olson@GlobalOne.net