# March 24, 2025 Budget Meeting

## Budget Committee Weekly Meeting Minutes

*Date:* March 24, 2025\
\&#xNAN;*Time:* 11:57 AM EDT\
\&#xNAN;*Duration:* 1 hour, 8 minutes\
\&#xNAN;*Chair:* Prof. Steven\
\&#xNAN;*Secretary:* Lloyd Duhon

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### Attendance

| Name                               | Role                          | Attendance Note |
| ---------------------------------- | ----------------------------- | --------------- |
| Prof. Steven                       | Chair                         | Present         |
| Lloyd Duhon                        | Budget Secretary              | Present         |
| Andreas Pletscher (for Rita M.)    | Voting Member                 | Present         |
| J.J. Siler                         | Voting Member                 | Present         |
| Jose Velazquez                     | Voting Member                 | Present         |
| Kriss Baird                        | Voting Member                 | Present         |
| Kristijan Kowalsky                 | Voting Member                 | Present         |
| Shunsuke Murasaki                  | Voting Member                 | Present         |
| *Jose Maria Otegui Alvarez (Pepe)* | Voting Member                 | Arrived Late    |
| *Mercy*                            | Voting Member                 | Arrived Late    |
| Dave Dionisio                      | Contributor / Observer        | Present         |
| Jack Briggs                        | Contributor / Observer        | Present         |
| Lawrence Clark                     | Contributor / Observer        | Present         |
| Marc Gorman                        | Presenter – Budget Task Force | Present         |
| Nicolas Cerny                      | Observer                      | Present         |
| Simo Simovic                       | Observer                      | Present         |

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### Agenda Overview

1. Budget Ratification Task Force Update
2. Social Monitoring Update
3. Community Feedback on Budget Proposal
4. Requested Votes
   * Committee Budget
   * Net Change Limit (NCL)
   * Blog Post Review
5. Async Participation Reminder
6. Additional Discussion Items

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### Key Outcomes & Discussions

#### 1. Budget Ratification Task Force Update

*Presenter: Marc Gorman*

* Provided updates on process structure, tooling, and timelines.
* Virtual and in-person reconciliation workshops planned:
  * Virtual: End of April
  * In-person: Tentative for May 3–4, Nairobi
* Tooling in development for:
  * Community sentiment collection
  * DREP reconciliation voting
  * Smart contract-based treasury withdrawals
* Budget Committee is asked to:
  * Amplify messages within their communities
  * Volunteer for reconciliation workshop design
  * Validate task force outputs

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#### 2. Social Monitoring Update

*Presenter: Lloyd Duhon*

* Community feedback shows interest in lowering the Net Change Limit (NCL).
* AMAs reveal high concern about potential delays in funding.
* Misinformation: Some users still believe vendor form submission requires 100K ADA upfront—clarified as false.

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#### 3. Budget Proposal Feedback

* Forum feedback was minimal.
* Key points:
  * Some items should fall under Intersect operations instead of committees.
  * Budget Summit should possibly be merged with Cardano Summit.
* Committee advised to clarify intent and structure in communications.

***

#### 4. Requested Votes

**a. Committee Budget Vote**

* *Deferred* for more feedback from community members.

**b. Net Change Limit (NCL)**

* Jose Velazquez Raised a motion to reduce the previously approved NCL from 350M to 300M ADA.
* Lawrence Clark updated the committee that the model projected 2024 treasury income = \~351M ADA.
* Lawrence Clark ask how the number had been calculated, Jose Velazquez confirmed he had used data available online. 
* Lawrence Clark asked if the number calculated included with withdrawal of Catalyst finds in 2024?  Jose confirmed he had not taken this into account. 
* Motion carried by unanimous vote to keep the NCL at 350m ada.
* *Outcome:* NCL remains *350M ada*. 

**c. Blog Post Endorsements**

* *Jack Briggs* presented two draft posts:
  * NCL rationale and framing
  * Overview of roles in the new process
  * Action on committee to review and feedback comments. 
* Committee encouraged to provide feedback prior to publication.

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#### 5. Async Participation

* Committee reminded to:
  * Engage in Discord surveys and proposal discussions
  * Contribute to reconciliation design sprints
  * Stay responsive to midweek async updates

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### Action Items

| Task                                             | Owner                 | Notes                              |
| ------------------------------------------------ | --------------------- | ---------------------------------- |
| Share DREP survey results                        | Marc Gorman           | Include hybrid preference insights |
| Finalize and publish NCL                         | Lawrence Clark & Ryan | Target: March 25                   |
| Review and comment on blog posts                 | All committee members | See Discord thread                 |
| Volunteer for reconciliation design              | Interested members    | Contact Marc or Lawrence Clark     |
| Gather and present additional line-item feedback | Jose Velazquez        | Revisit next week                  |

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### Next Steps

* Finalize Nairobi logistics if approved for in-person workshop.
* Launch public tooling and comms campaign by early April.
* Set up additional touchpoints (briefings/workshops) with budget committee during reconciliation design phase.

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