June 30th, 2025 Budget Comm Minutes

Attendees:

Name	Role
Dimmitri	Former Voting Member
Kriss Baird	Voting Member, IOG, Catalyst
Mercy	Voting Member, WADA
Rita	Former Voting Member, Cardano Foundation
Shunsuke Murasaki	Former Voting Member, Mentor, Emurgo
Kristijan Kowalsky	Voting Member, Tweag
Megan Hess	Voting Member
Lloyd Duhon	Budget Secretary
Jack Briggs	Interim Executive Director, Intersect
Raphael
Mike	Observer

Transcript: https://docs.google.com/document/d/1UIZYRfJuz6PaneQPGBWSGrvyY4EyXq4mw8G0HRMixes/edit?tab=t.558vhr9sj0fk

Agenda 1.16.25

• Budget Process Retrospective Kick-off: The committee initiated planning for the next budget cycle's retrospective, outlining key focus areas, timelines, and the ambition to identify and implement improvements by year-end.

• Execution of Treasury Withdrawals: Updates were provided on the updated timeline for disbursements, the progress of smart contract and vendor contract finalization, and the critical task for the committee to review the 39 individual withdrawal actions for compliance.

• Committee Role & Operational Prioritization: Discussions clarified the committee's strategic position in the evolving budget process, highlighted the importance of a DREP voting dashboard for engagement, and set the two highest priorities for the coming weeks: solidifying treasury withdrawals and active retrospective planning.

Decisions/Actions

Topic	Discussion	Action Items
Attendance	Voting Members: Dimmitri, Chris Baird, Mercy, Rita Mistry, Shunsuke Murasaki, Chris Kowalsski, Megan Hess. Observer: Jack Briggs. Secretary: Lloyd Duhon.
Budget Process Retrospective Planning	Chris Baird presented the initial framework for the retrospective, aiming to identify improvements for the next budget cycle by December 31st. It's split into "Budget Committee & Task Force Internal Retro" and "Community Engagement." The latter involves surveys (led by Demetri and Dysmorphia team) and data analysis by Zerus. Discussion included balancing in-person/online events with broader survey reach.	Chris Baird to ensure Rita Mistry's documents are included in the retrospective planning. Committee members to review the retrospective framework for feedback and missed areas.
Retrospective Timeline & Scope	Rita Mistry raised concerns about the December 31st deadline, suggesting it might be too late to get sufficient community input. The goal is to produce actionable recommendations and a new budget process for execution by early Q1 next year.
Solutionizing vs. Feedback Collection	Jack Briggs clarified that the retrospective aims to gather feedback and thoughts without immediately providing a solution for next year. However, Chris Baird emphasized the need to reach a solution to ensure a budget by July next year.
Board Expansion & ED Role	Jack Briggs informed the committee that the board will expand from five to seven members (four elected from membership by October). The ED role will also be open for applications soon, with a target confirmation in Oct/Nov. This influences the long-term vision for Intersect.
Committee's Role in Budget Process Design	The committee affirmed its role in developing recommendations for the next budget process. Jack Briggs stressed the importance of DREP approval for the new process, aiming for an info action.	Committee members to contribute actively to the development of recommendations for the next budget process.
Treasury Withdrawal Timeline Update	Mark Gorman provided an updated timeline: Board meeting June 25th, likely treasury action submission July 3rd, earliest disbursement July 13th, with final disbursement likely by August 7th (during Rare Evo).
Smart Contract & Vendor Contracts	Funds will go into smart contracts, but vendor legal contracts (MSAs) must be signed for disbursement. Funds can sit on-chain if contracts are delayed. Most vendor MSAs are moving along swimmingly.
Review of Treasury Withdrawal Actions	The committee has not yet received the actual treasury withdrawal actions but expects them soon via a GitHub link from Ryan. The committee is tasked with reviewing these 39 actions for constitutionality and inconsistencies.	All committee members to review the treasury withdrawal actions in the provided GitHub link once available. Lloyd Duhon to ensure a comment channel for the GitHub document. Rita Mistry to send her review feedback (from internal discussion with Nico/EC members) to Lloyd Duhon by Wednesday.
DREP Voting Dashboard	Jack Briggs confirmed that a DREP voting/whipping dashboard will be spun up and shared with the group to track voting behavior on the upcoming withdrawal actions.	Jack Briggs to share the DREP voting dashboard with the committee. Lloyd Duhon to schedule a 15-minute meeting with Jack Briggs to review a relevant program.
Open Feedback Channel for Withdrawals	Concerns were raised about the lack of a formal comment channel for the GitHub document containing withdrawal actions, leading to potential feedback overload for Ryan.	Lloyd Duhon to communicate with Ryan about creating a formal comment channel or acting as a filter for consolidated feedback from the committee and ISC.
Two Highest Priorities	The two highest priorities for the committee are ensuring the Treasury withdrawal governance actions are solid, and active participation in the retrospective planning.	Committee members to prioritize time between reviewing treasury withdrawal actions and actively participating in retrospective planning.