March 28, 2025 Budget Task Force Catchup
Meeting Minutes: Budget Task Force Catchup Date/Time: March 28, 2025, 11:58 EDT Location: Virtual Meeting
1. Attendees
Budget Task Force Members:
Andreas Pletscher
Dave Dionisio
Jack Briggs
Jose Velazquez
Kristijan Kowalsky
Lawrence Clark
Lloyd Duhon
Marc Gorman
Prof. Steven
(Additional participants referenced in transcript but not actively speaking may include support staff or observers.)
2. Meeting Purpose
A regular catchup to discuss the status of:
The 2025 Budget timeline and proposals.
Ongoing efforts around the net change limit (NCL) actions.
Plans for reconciling and finalizing budget proposals.
Development of a smart contract–based treasury management solution.
3. Key Discussion Points
3.1 Updates on Budget Proposals & Timeline
Proposal Submissions:
22 proposals received so far; more expected soon.
IO and CDC proposals are anticipated early next week.
Submission form remains open; proposals can still be added but will have cutoffs for each budget cycle.
Proposals to be published on Monday, enabling community review prior to the 15th, when a formal upvote/downvote mechanism (with DREP identification) will go live.
Committee Review & “Rogue” Proposals:
Committees (e.g., Marketing Committee) are putting forward coordinated proposals.
Concern raised about how to differentiate “official” committee proposals from individual or “rogue” submissions.
Plan to have committees label which proposals they endorse (or do not support), so DREPs have clearer guidance.
Reconciliation Phase & Workshops:
Community and committee feedback will culminate in reconciliation workshops.
Preliminary survey feedback on whether these should be in-person or virtual is being summarized; a more detailed proposal will be presented Monday.
Earliest possible date for budget-related treasury withdrawals could be June 3, subject to the required on-chain Info Action period (six epochs).
Potential to ship an “early” budget for strongly supported items while allowing more time for contentious or complex proposals.
Communications & Engagement Schedule:
A consolidated schedule of all community touchpoints is in development.
Aim to leverage Intersect committees and hubs for outreach, educational materials, and gathering feedback.
An Intersect Knowledge Base page will host FAQs, educational content, and relevant links in multiple languages.
3.2 Net Change Limit (NCL) Discussion
Two net change limit proposals currently exist:
One that covers both 2025 and 2026.
One from the Budget Task Force that covers only 2025 (350M ADA).
By constitutional language, “the then applicable” net change limit is whichever passes most recently and meets constitutional thresholds.
Concerns exist about confusion arising from multiple NCL actions. The older 2025–26 NCL has low voter engagement (~15% support); the single-year 2025 NCL is performing better.
Next Steps:
Focus on ensuring the 2025 NCL action passes.
Consider a separate 2026 NCL proposal once 2025 is resolved to avoid adding complexity for DREPs.
Clarify final interpretation of net change limit overrides (pending Constitutional Committee confirmation).
3.3 Smart Contract Treasury Administration
Objective: Develop a smart contract framework that administers vendor payments in line with the approved budget, including:
Secure multi-signature review/approval.
Integration with an Intersect “contracting process.”
Auditable records and compliance with financial regulations.
Operation Model:
Auto-Pay (funds released automatically at intervals) vs. Manual-Pay (milestone proof required before payment) under review.
Must also accommodate fiat-rail payments and currency conversions for jurisdictions where crypto payments are not viable.
Development Collaboration:
IO is contracting a developer for the on-chain elements.
Volunteers from Budget Committee (and CF for technical or regulatory viewpoints) are needed to define detailed requirements.
A user-friendly interface to handle proposals, payments, and audits is essential.
4. Action Items & Next Steps
Publish Proposals (Monday):
All submitted budget proposals go live for community review.
Committees will label which proposals they support or oppose.
Gov Tool Enhancements (by April 15):
Enable upvote/downvote, comments, and DREP verification on proposals.
Workshops & Reconciliation Planning:
Proposed consolidation workshop dates: April 7, 10, 14, 24 (7–12 AM PT and 7–10 PM PT, subject to change).
Further details to be coordinated via a dedicated Reconciliation Working Group.
Net Change Limit Clarifications:
Seek formal interpretation from the ICC (Constitutional Committee) on “the then applicable” language and confirm that the latest valid NCL supersedes previous.
Budget Task Force to continue outreach and communications to support passing of the 2025 NCL.
Smart Contract Treasury Management Requirements:
Volunteers from Budget Committee and CF to refine user flows, define key parameters (auto-pay vs. manual-pay), and ensure multi-currency compatibility.
Prepare a solution demo for feedback once initial development is ready.
Educational & FAQ Materials:
Intersect to expand Knowledge Base with guidance on net change limit, budget processes, and general governance.
Explore translations to reach non-English-speaking community members.
Follow-up Meeting (Monday):
Budget Committee will review survey feedback on reconciliation format and net change limit updates.
Discussion on potential 2026 net change limit language (timing TBD).
5. Additional Notes
Constitutional Constraints: Some details (e.g., net change limit interpretation) may require formal clarification by the Constitutional Committee.
Key References:
“the then applicable” phrase in Article 4, Section 3 of the Constitution clarifies that the most recently enacted net change limit holds.
Meeting Adjourned: 12:29 EDT
6. Next Meeting
Date: Monday, March 31, 2025 (Budget Committee Meeting)
Topics:
Finalizing NCL approach and 2025/2026 distinction.
Reconciliation workshop details.
Smart contract administrator requirements and demonstration planning.
Prepared by: Budget Committee Secretary Date Issued: March 29, 2025
For any corrections or additions, please contact the Budget Task Force lead or the Intersect administrative team.
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