March 24, 2025 Budget Meeting

Budget Committee Weekly Meeting Minutes

Date: March 24, 2025 Time: 11:57 AM EDT Duration: 1 hour, 8 minutes Chair: Prof. Steven Secretary: Lloyd Duhon


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


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


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


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.


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.


5. Async Participation

  • Committee reminded to:

    • Engage in Discord surveys and proposal discussions

    • Contribute to reconciliation design sprints

    • Stay responsive to midweek async updates


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


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.


Last updated