Mar 24, 2025 Budget Comm Minutes

Attendees:

Name	Attendance	Role	Voting Seat (Y/N)
Andreas Pletscher	Yes	Observer, COO of Cardano Foundation. (Temporary Voting member while Rita Mistry was on sabbatical.)
Dave Dionisio	Yes	Observer
J.J. Siler	Yes	Former Voting Member, Mentor, IOG STaff
Jack Briggs	Yes	Interim Executive Director, Intersect
Jose Maria Francisco Otegui Alvarez	Yes	Observer
Jose Velazquez	Yes	Former Voting Member
Kriss Baird	Yes	Voting Member, IOG, Catalyst
Kristijan Kowalsky	Yes	Voting Member, Tweag
Lawrence Clark	Yes	Intersect Secretary
Lloyd Duhon	Yes	Budget Secretary
Marc Gorman	Yes	Program Manager Budget Task Force
Mercy	Yes	Voting Member, WADA
Nicolas Cerny	Yes	Observer, Cardano Foundation Staff
Prof. Steven	Yes	Former Voting Member, Mentor, Chairman of Intersect Board.
Shunsuke Murasaki	Yes	Former Voting Member, Mentor, Emurgo
Simo Simovic	Yes	Intersect Staff

Recording: https://drive.google.com/file/d/1QmIgyNf-pzZ1jEzr7X6tEgYyOkb4J_iD/view?usp=drive_link

Transcript: https://docs.google.com/document/d/1D8dGACcRI1XEjfa2gM2hbCtFDjyXAduqaRGXb9_YLLY/edit?tab=t.0#heading=h.8kh156ve81n0

Agenda 1.16.25

• Budget Ratification Task Force Update: Discussion on the new budget process, vendor submissions, tooling development (community feedback, reconciliation, smart contract admin), and proposed reconciliation workshop plans (virtual and in-person).

• Net Change Limit (NCL) Review & Vote: Debate and vote on adjusting the 2025 Net Change Limit, including clarification on 2024 treasury income figures.

• Committee Engagement & Communication: Discussion on the Budget Committee's role in message amplification, community conversations, and promoting asynchronous participation, along with updates on new blog posts.

Decisions/Actions

Topic	Discussion	Action Items
Welcome and Agenda Review	Lloyd Duhon opened the meeting, welcoming attendees and reviewing the proposed agenda, which included updates from the Budget Ratification Task Force, social monitoring, budget proposal feedback, and votes on committee budget, Net Change Limit (NCL), and Jack's blog posts, as well as async voting participation.	N/A
Budget Ratification Task Force Update	Marc Gorman, program lead for the budget ratification work, provided an overview of the process and progress. The vendor submission form was launched in late February, with proposals to be published online for community feedback by the end of March. A workshop series is planned for the end of April for DREP voting and budget reconciliation.	Marc Gorman to share DREP survey data on reconciliation approach.
Tooling for Budget Process	Marc Gorman detailed three main tooling buckets: community feedback (upvoting/downvoting on the Intersect website and other platforms), reconciliation tooling for DREP voting, and a smart contract administrator tool. Discussions are ongoing with vendors for development. Concerns were raised about the need for a robust and tested tool for live reconciliation workshops.	Lawrence Clark to follow up with Nick regarding the meeting with Tempo Vote, Clarity DAO, and Catalyst for API development. <br> Jose Velazquez to share his email for volunteering in the reconciliation workshop design.
Community Engagement and Message Amplification	Marc Gorman requested the Budget Committee's assistance in amplifying messages, holding community conversations about the budget, and gathering feedback to course-correct. He suggested that the committee act as an intermediary between the task force and the wider community.	Budget Committee members to actively engage in message amplification and community conversations. <br> Volunteers from the Budget Committee are sought for the reconciliation workshop design.
DREP Engagement and Workload	Kriss Baird sought clarification on whether the reconciliation workshop specifically targets DREPs. Marc Gorman confirmed DREPs are the primary voting body, but broader community feedback is vital. Dave Dionisio noted DREPs in Japan expressed readiness to review many items and desire for committee expert analysis, not direct funding selection.	Lawrence Clark to provide proposed timelines for Budget Committee engagement with the task force.
Existing Committee Proposals	Jose Velazquez questioned if existing committee line items would be subject to DREP voting. Lawrence Clark confirmed all proposals will go to DREPs for approval, and current committee budgets on the Cardano forum remain valid.	Jose Velazquez to provide further feedback on specific line items perceived as belonging under Intersect operations.
Workshop Configuration and Location	The task force plans asynchronous feedback sessions and virtual workshops throughout April, leading to a proposed in-person workshop the first weekend of May in Nairobi. Nairobi was chosen for its accessibility (no visa required for many) and existing logistical links. This timing aims for treasury withdrawals by mid-June.	Decision on Nairobi workshop location to be made as soon as possible (ideally today or tomorrow).
Task Force Engagement with Budget Committee	Marc Gorman and Lawrence Clark inquired about the Budget Committee's preferred engagement frequency and method with the task force, suggesting potential additional 30-minute sessions twice a week. They emphasized the need for two-way collaboration and input on design work.	Lawrence Clark to propose specific timelines for additional engagement sessions.
Committee Member Stipends	Kristijan Kowalsky raised a proposal regarding stipends for committee members.	Lawrence Clark to follow up separately on the ISC's feedback regarding committee member stipends.
Net Change Limit (NCL) Discussion and Vote	Jose Velazquez requested a vote to reduce the 2025 NCL to 300 million ADA, citing 2024 income figures. Lawrence Clark clarified the 350 million ADA NCL for 2024 included ADA withdrawn by Catalyst, suggesting the 350 million NCL is accurate for income. A motion to reduce the NCL to 300 million was seconded by J.J. Siler.	Lawrence Clark to provide Jose Velazquez with the Excel sheet detailing the 2024 treasury income and withdrawals.
NCL Vote Outcome	The motion to reduce the NCL to 300 million ADA failed. The current NCL of 350 million ADA, previously approved by the committee, will move forward.	Lawrence Clark and Ryan to proceed with publishing the 350 million ADA NCL.
Approval Threshold for Forum Proposals	Nicolas Cerny, as an observer, informed the voting members that the approval threshold for proposals on the GF tools forum has been changed from 67% to 50% + 1 Lovelace, aligning with constitutional requirements.	N/A
Jack Briggs' Blog Posts	Jack Briggs presented two blog posts for committee review: one on the Net Change Limit (NCL) and another on the current new budget process, including roles for DREPs, committee members, and the community. He requested feedback for publication.	Committee members to provide feedback on Jack Briggs' blog posts in Discord.
Asynchronous Voting Participation	Lloyd Duhon emphasized the importance of asynchronous participation in Discord forums, surveys, and reviewing documents, as the committee primarily meets once a week.	All committee members to actively participate in asynchronous discussions and surveys on the Discord channel.