> For the complete documentation index, see [llms.txt](https://committees.docs.intersectmbo.org/llms.txt). Markdown versions of documentation pages are available by appending `.md` to page URLs; this page is available as [Markdown](https://committees.docs.intersectmbo.org/intersect-budget-committee/archive/2024-updates/december-monthly-updates/december-16-2024.md). # December 16, 2024 ## Attendees: | Role | Name | Voting Member | | --------- | ------------------ | ------------- | | Chair | Steven Lupien | Yes | | Member | Jeffrey Siler | Yes | | Member | Kriss Baird | Yes | | Member | Shunsuke Murasaki | Yes | | Member | Rita Mistry | Yes | | Member | Mercy Fordwoo | Yes | | Member | Jose Velazquez | Yes | | Member | Kristijan Kowalsky | Yes | | Member | Pepe Otegui | Yes | | Secretary | Lawrence Clark | No | | SME | Lloyd Duhon | No | | Observer | Rafael Fraga | No | | Observer | Dave Dionsio | No | | Observer | Thiago Nunes | No | | Observer | Jack Briggs | No | | Observer | Nicholas Cerney | No | Absents: ## Agenda: * Changes to the Constitution * Working Group updates 1. Treasury 2. Budget Process 3. Audit ## Changes to the Constitution Lloyd and Lawrence explained the constitutional changes that impact the budget committee. * Budget is now Article IV of the Constitution * Budget Purpose * for the ongoing operation, maintenance and future development of the Cardano Blockchain ecosystem and for covering other costs related to the implementation, administration and maintenance of the decentralized, on-chain governance processes provided for in this Constitution. * Multiple Budgets Possible * Requires use of Blockchain technology, including smart contracts, where beneficial * Key Definitions * Budget * Administrator * No Staking Must be delegated to Auto-Abstain option.\ \ Constitution Text: ## Treasury Management WG * Meeting setup through 2025 * Delayed start due to delay with treasury withdrawal * FX conversion plan has been discussed * Lawrence is closing out KYB to onboard Cardano Development Holdings onto custodian * The Custodian MultiSig wallet workflow is to be defined and tested during Christmas. * Note: this has been delayed and is a risk of completion end of Jan due to holiday ## Budget Process WG * ToR * Meeting Schedule * Strategy/Plan Kriss Braid acknowledged this and noted that due to other events, he has been unable to progress this. ## Audit WG * ToR * Meeting Schedule * Strategy/Plan Jose Velazquez acknowledged this and noted that due to other events, he has been unable to progress this. ## Any other Business Lawrence noted that a Tax working group would be required Lawrence noted that due to the changes to the constitution, the budget proposal will not be ready until mid-January. All agreed that the next budget committee would in January 2025.
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