Budget Committee Charter

This is the current operating charter for the Cardano Budget Committee of the Intersect Members Based Organization.

What is the Budget Committee?

The Budget Committee is an advisory committee that brings together relevant stakeholders from within the Cardano Ecosystem. The purpose of the budget committee is to use the knowledge and observations of these individuals in order to provide guidance, support, and oversight for Cardano’s annual budget processes.

The Budget Committee is responsible for:

• Provide Creation of and Management of Cardano’s annual budget process initiatives and policies while Aligning with the strategic directions of the Cardano Annual Budget

• Manage working groups

• Bucket Allocation Process

• Annual Budget

• DRep Relations

• Audit and Oversight

• Treasury management

• Any other working group as needed for the committee’s business.

• Evaluate the output of working groups and the Budget Committee

• Communicate the work of the committee to the wider Cardano community

Goals of the Committee

1. Transparency: All budget-related information, including revenues, expenditures, and financial reports, is openly accessible to stakeholders. This fosters trust and accountability.

2. Collaboration: Stakeholders, including employees, partners, and sometimes the public, can contribute to the budgeting process. This input can be gathered through forums, surveys, or collaborative platforms.

3. Flexibility: The budget process should allow for adjustments and iterations based on real-time feedback and changing circumstances. This makes the budget more adaptable and responsive.

4. Community-Driven: The process should include the cardano community, and the Intersect membership. They all should work together to develop and refine the budget.

5. Use of Tools: Any tooling used should be visible to the Cardano Community and free to them should they need to use them.

6. Education and Training: Stakeholders are educated about the budgeting process and the tools used, enabling broader participation and better-informed contributions.

Operating Procedures

Voting

In Person or Video Meeting Voting Procedures: All topics on which the Budget Committee will take a vote on most matters will need a simple committee majority tallied during the meeting in which the Budget Committee convenes, tally and action to be recorded by the Secretary.

Extraordinary conditions: When making modifications to the charter, when adding new members, when expanding or reducing the budget recommendations, a super majority vote of 2/3rds shall be required. Extraordinary condition votes must be taken in real time and not via asynchronous or offline voting.

Every decision before the Committee not mentioned above shall be governed under Roberts Rules of Order version 12.

Offline Voting Procedures: All topics on which the Budget Committee will take a vote will need a vote tallied based on the medium on which the Budget Committee chooses. Current voting procedure utilizes Discord where one or multiple topics will be posted for committee comments and the ability to mark a vote based on emojis as dictated by the post instructions. A simple majority of the correct emoji is needed to continue proceedings.

No Vote: In the event of a no vote or insufficient vote, topics or items will then be shelved or facilitated to revision based on the nature of the vote.

A vote by a committee should be considered binding if it receives a simple majority of positive votes from a quorum consisting of at least two thirds of the committee members being present and participating in the vote

Intermediate to Future State

As this interim committee is to help bootstrap the Budget work for Intersect, each candidate was selected due to their experience, interest, and collaboration within the Cardano Ecosystem. The formation of this committee is from July 2024 until January of 2025. Each member will be able to campaign for their seat again in Q3 2024.

Version 1.0 As ratified 23 July 2024.