> For the complete documentation index, see [llms.txt](https://budgetcommittee.docs.intersectmbo.org/llms.txt). Markdown versions of documentation pages are available by appending `.md` to page URLs; this page is available as [Markdown](https://budgetcommittee.docs.intersectmbo.org/committee-meeting-notes/2026-meeting-notes/budget-committee-weekly-meetings/june-1st-2026-budget-comm-minutes.md). # June 1st, 2026 Budget Comm Minutes ### Budget Committee Weekly Meeting — June 1st, 2026 **Date:** June 1, 2026 **Time:** 09:00 EDT **Attendees:** Can Huzmeli, Christina Gianelloni (visitor), Eric Helms (SCATDAO), Fanny Wijaya, Kristijan (Chris) Kowalsky, Lloyd Duhon (Secretary), Megan Hess (Chair), Nicolas Cerny, Otávio Lima, Rodrigo Pacini, Simo Simovic (Project Manager), Terence "Tex" McCutcheon (Intersect) **Quorum:** Confirmed. > **Context:** Two main items: (1) **chair and vice-chair elections** are open (candidacy closes Tuesday, June 2; one week to vote); and (2) the committee voted on the **single vs. bundled treasury withdrawal** change after a week of community consultation. A separate discussion addressed a high-stake DRep ("Yuta") who reversed to a **no** vote on the committee's proposal. *** ### 1. Chair and Vice-Chair Elections Elections for **chair and vice chair** are open. Lloyd posted the link in the **CBC-internal Discord channel** (Intersect server); members were asked to confirm they have access (Eric did not, and will be added). * **Candidacy closes Tuesday, June 2**, followed by a **one-week voting period**. * Currently only **one candidate** for chair; the committee strongly encouraged additional members to stand for **chair and especially vice chair**. Christina offered to help recruit a vice-chair volunteer. * **Policy change (Megan):** Per Intersect's updated policy, chair and vice chair now serve **one-year terms**, and the vice chair **no longer automatically becomes chair** — a separate election is required (unless the chair steps down). The vice-chair role is primarily to step in when the chair is unavailable. > **Action:** Members to put forward candidacy for chair/vice chair in CBC-internal Discord before candidacy closes June 2. Simo to ensure all current voting members have Discord access. *** ### 2. Motion — Single vs. Bundled Treasury Withdrawals Following the community consultation posted to X two weeks earlier, the committee moved to a decision. #### 2.1 Community Feedback Summary Lloyd reported that, of everyone who stated an opinion on X, **exactly one person** argued for keeping the bundled (one or two) treasury withdrawals (on DRep-fatigue grounds); **everyone else favored single, individual withdrawals**. #### 2.2 The Motion * **Motion (Megan Hess):** Shift the treasury-withdrawal governance actions from **two bundled actions** to **individual treasury withdrawal governance actions per proposal that meets the 67% threshold** in Ecclesia. * **Seconded:** Eric Helms. #### 2.3 Discussion * **Megan:** Although DRep overwhelm was a concern, the community asked wasn't complaining. Individual withdrawals act like "training wheels" for how governance is meant to work — circulate the idea, get community feedback, then put it on chain. The administration fee increasingly justifies the committee helping carry proposals all the way to chain. * **Nico:** If approved, communicate the change **very clearly** and transparently — cite the governance-action metadata section that allows this flexibility, note this was the committee's original intent (blocked last year by an operational constraint now lifted), and that the community was consulted. Pivot where it makes sense rather than "putting our head in the sand." * **Kristijan:** Asked Intersect staff to confirm operational capacity — this is not one action but potentially dozens. **Simo confirmed** the team (Jack, Ryan, and Met team) is **ready to submit as many as needed**: currently **only one proposal is passing**, \~**10 sit at 48%+**, and the rest at **28% or less**; realistically **no more than \~10–15** are projected to pass. #### 2.4 Vote — Roll Call (Unanimous) A "yes" = move to individual treasury withdrawal governance actions per proposal clearing 67%; a "no" = keep the two bundled actions. | Member | Vote | | ------------------ | ---- | | Eric Helms | Yes | | Fanny Wijaya | Yes | | Kristijan Kowalsky | Yes | | Nicolas Cerny | Yes | | Otávio Lima | Yes | | Rodrigo Pacini | Yes | | Megan Hess (Chair) | Yes | **Result: Unanimous — motion carried.** The decision will be **published immediately**, and Simo will relay committee approval to the Intersect team to prepare individual treasury withdrawal governance actions. *** ### 3. DRep "Yuta" — Reversal to a No Vote on the Committee Proposal Lloyd raised that **Yuta**, a DRep holding substantial ADA, had **approved the committee's proposal in the first phase** but **voted no** in Ecclesia. Yuta's stated rationale: judging from recent on-chain governance activity, submitting on-chain actions is no longer difficult for builders, so everything should be consolidated into on-chain actions and the budget process eliminated. Yuta is **open to feedback**, and the committee agreed to draft a response. Arguments raised for the response: * **Nico:** The proposal isn't only about the budget process — it adds an **accountability/transparency layer** with proper administration/audit requirements for withdrawals. A budget "season" lets DReps **compare and compete** proposals (e.g., FTE costs across IOG, Cardano Foundation, Amaru, Dingo, Haskell node) rather than evaluating each in isolation. Noted the tension: Intersect itself bypasses the process by administering other direct proposals, but the people most hurt by eliminating it are **small players** who lack the 100K ADA deposit. * **Christina (visitor):** As "the least likely supporter," she urged the committee to **play up the services it provides** to smaller, often not-yet-incorporated proposers — contract handling, fund custody, tax liability, stablecoin conversion — things many don't realize they need and can't access on their own (she recounted the difficulty of converting 5.6M ADA without corporate accounts/UBO paperwork). The \~3% admin fee covers real administrative burden. * **Simo:** Sees **generally positive sentiment** around this cycle; even non-supporters praise the tooling and would likely support a **coordination layer**. He will push internally to continue improving the process next year regardless of whether the committee's budget is approved. > **Action:** Lloyd to draft a response document to Yuta (incorporating Christina's framing), save it to Discord for committee input, and get it into Yuta's hands. Nico volunteered to help refine it. *** ### 4. Other Business * **Governance voting reminder (Nico):** Members should remind the community that, under the tool's governance logic, **not voting on a proposal is a de facto no**. If a DRep participates in any of the 69 proposals, their stake counts as participating; failing to cast a vote (or abstain) on the others effectively counts against them. Lloyd to publish this reminder via the X and announcement channels. * **Dashboard / track-record research (Rodrigo):** Completed and published an article and a CSV on GitHub covering proposers without a prior track record on the dashboard; will share in Discord. Lloyd to fold the dataset into the repository's online version. *** ### 5. Administrative Note — Discord Access Audit After the formal meeting, Simo, Eric, and Megan reviewed CBC-internal Discord membership to ensure all current voting members have access. Eric completed verification and was added. The channel is restricted to voting members and is where important committee business and votes are shared. Two members — **Stephen Wood (Cardano Foundation)** and a member from **IO (Can/John)** — are not yet in the committee Discord; Simo will follow up with Tex and the team to add them. *** ### 6. Action Items | Action | Owner | Notes | | -------------------------------------------------------------------------------- | -------------------- | ------------------------------------------------------------ | | Put forward candidacy for chair/vice chair | Members | CBC-internal Discord; closes Tuesday June 2 | | Ensure all voting members have CBC-internal Discord access (add Wood, IO member) | Simo / Tex | Eric added in-call | | Publish the approved change to individual treasury withdrawal governance actions | Lloyd | Immediately | | Relay committee approval to Intersect team to prepare individual TWWGAs | Simo | Team confirmed ready | | Draft response document to DRep Yuta and save to Discord for input | Lloyd (Nico to help) | Emphasize accountability layer + services to small proposers | | Publish reminder that not voting = de facto no on each proposal | Lloyd | Via X and announcement channels | | Share track-record CSV/article and integrate into the funding-history repo | Rodrigo / Lloyd | Proposers lacking prior history | *** ### 7. Adjournment With both major items resolved — elections open and the unanimous move to individual treasury withdrawals — Lloyd closed the meeting. Simo will carry the withdrawal decision back to the Intersect team; Lloyd will issue the two announcements and draft the Yuta response. **Headline outcomes:** * **Unanimous vote to move from two bundled treasury withdrawals to individual treasury withdrawal governance actions** per proposal clearing the 67% threshold, following community consultation that overwhelmingly favored the change. Intersect confirmed it can submit as many as needed. * **Vote projection:** only \~1 proposal currently passing, \~10 at 48%+, rest at 28% or less; realistically **\~10–15** may ultimately pass. * **Chair/vice-chair elections open** — candidacy closes June 2, then a week to vote; only one chair candidate so far, vice chair still needed. New Intersect policy: **one-year terms**, no automatic vice-chair-to-chair succession. * **DRep "Yuta" reversed to a no vote**, arguing the budget process is no longer needed; committee will respond, stressing the **accountability/audit layer** and the **services provided to smaller proposers** (contract handling, custody, tax, stablecoin conversion) that the \~3% admin fee covers. * **Reminder to be published:** under the governance logic, not voting on a proposal counts as a de facto no. * **Rodrigo** published track-record research (article + CSV) to be integrated into the committee's funding-history tool. Meeting adjourned after **00:44:34**. --- # Agent Instructions This documentation is published with GitBook. GitBook is the documentation platform designed so that both humans and AI agents can read, navigate, and reason over technical content effectively. 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