# March 24, 2025 Budget Meeting ## Budget Committee Weekly Meeting Minutes *Date:* March 24, 2025\ \&#xNAN;*Time:* 11:57 AM EDT\ \&#xNAN;*Duration:* 1 hour, 8 minutes\ \&#xNAN;*Chair:* Prof. Steven\ \&#xNAN;*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. *** --- # Agent Instructions: Querying This Documentation If you need additional information that is not directly available in this page, you can query the documentation dynamically by asking a question. Perform an HTTP GET request on the current page URL with the `ask` query parameter: ``` GET https://budgetcommittee.docs.intersectmbo.org/committee-meeting-notes/2025-meeting-notes/budget-committee-weekly-meetings/march-24-2025-budget-meeting.md?ask= ``` The question should be specific, self-contained, and written in natural language. The response will contain a direct answer to the question and relevant excerpts and sources from the documentation. Use this mechanism when the answer is not explicitly present in the current page, you need clarification or additional context, or you want to retrieve related documentation sections.