Terms of Reference

Purpose

The Budget Committee is an advisory body established to provide guidance, support, and oversight for Cardano's annual budget processes. It brings together relevant stakeholders from within the Cardano Ecosystem to leverage their knowledge and observations in shaping the financial direction of the ecosystem.

Scope

The Budget Committee's scope of work includes:

• Creating and managing Cardano's annual budget process initiatives and policies

• Aligning budget processes with Cardano's strategic directions

• Managing working groups related to budgetary matters

• Overseeing the Bucket Allocation Process

• Developing and refining the Annual Budget

• Managing DRep Relations pertaining to budget matters

• Conducting Audit and Oversight of budget-related activities

• Providing Treasury management guidance

• Evaluating the output of working groups and the Budget Committee itself

• Communicating the committee's work to the wider Cardano community

Membership

The Budget Committee shall consist of:

• A Chair (Director of Intersect Board)

• A Secretary (Member of Intersect Executive team)

• 3-7 Voting Members (Initially appointed from upstanding community members, later voted on by Intersect Membership)

• Non-voting subject matter experts and community liaisons as needed

Roles and Responsibilities

As detailed in the charter document, including but not limited to Chair, Secretary, Voting Members, and various subject matter expert roles.

Meeting Procedures

• The committee shall meet regularly (frequency to be determined)

• Quorum for decision-making: At least two-thirds of voting members present

• Voting procedures as outlined in the charter for both in-person/video meetings and offline voting

Decision Making

• Simple majority required for most decisions

• Super majority (2/3) required for charter modifications, membership changes, and budget recommendation expansions or reductions

• Roberts Rules of Order (version 12) to govern all other decisions

Reporting

The Budget Committee will report regularly to the Intersect Board and the wider Cardano community on its activities, decisions, and recommendations.

Working Groups

The committee may establish working groups as needed to focus on specific aspects of its work. Each working group will include at least one voting member of the committee.

Review and Amendment

These Terms of Reference will be reviewed annually and may be amended by a super majority vote of the committee members.

Duration

This interim committee is established from July 2024 until January 2025, after which members may campaign for re-election in Q3 2024.

Guiding Principles

The committee will adhere to the principles of transparency, collaboration, flexibility, community-driven decision making, use of visible tools, and commitment to education and training as outlined in the charter.