diff --git a/checkin_notes b/checkin_notes
index 6bdcd9fe1e..e2bb548909 100644
--- a/checkin_notes
+++ b/checkin_notes
@@ -9974,3 +9974,10 @@ David  11 Dec 2009
         stripchart
         stripchart.cgi
         stripchart.cnf
+
+David  12 Dec 2009
+    - client: maintain mean STD at zero over all projects,
+        not just runnable ones
+
+    client/
+        work_fetch.cpp
diff --git a/client/work_fetch.cpp b/client/work_fetch.cpp
index cb9b94bae7..0e938b9247 100644
--- a/client/work_fetch.cpp
+++ b/client/work_fetch.cpp
@@ -766,14 +766,14 @@ void RSC_WORK_FETCH::update_short_term_debts() {
                 );
             }
             rpwf.short_term_debt += delta;
-            total_short_term_debt += rpwf.short_term_debt;
         }
+        total_short_term_debt += rpwf.short_term_debt;
     }
 
     //  normalize so mean is zero, and limit abs value to MAX_STD
     //
     if (nrprojects) {
-        double avg_short_term_debt = total_short_term_debt / nrprojects;
+        double avg_short_term_debt = total_short_term_debt / nprojects;
         for (i=0; i<gstate.projects.size(); i++) {
             p = gstate.projects[i];
             if (p->non_cpu_intensive) continue;