# 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: 1. One that **covers both 2025 and 2026**. 2. 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 1. **Publish Proposals (Monday):** * All submitted budget proposals go live for community review. * Committees will label which proposals they support or oppose. * **Link for reference:** [Proposal Submission Portal](https://mpc.intersectmbo.org/cardano-proposal-submission) 2. **Gov Tool Enhancements (by April 15):** * Enable upvote/downvote, comments, and DREP verification on proposals. 3. **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. 4. **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. 5. **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. 6. **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. 7. **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. * [Budget Proposal Submission Portal](https://mpc.intersectmbo.org/cardano-proposal-submission) remains open for new submissions. *** **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.* --- # 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-task-force-catchup/march-28-2025-budget-task-force-catchup.md?ask= ``` The question should be specific, self-contained, and written in natural language. 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