Introduction

As part of this proposal, the Ops subDAO was delegated the power to manage the quarterly budget for Balancer DAO. It is important to note that currently BAL token holders still have the final authority to approve or deny the consolidated quarterly budget proposal Ops will present. By simply presenting a single budget to BAL token holders through the governance process, it minimizes overhead (only one proposal to vote on) and ensures a fair and uniform budget allocation across all subDAO’s and any other DAO activities.

This should be considered a living document - policies outlined below will be iterated on in the future through a constant dialogue with all Balancer DAO contributors.

Budget Process

The process for preparing the consolidated quarterly budget is as follows:

1. The signers (leads) of each subDAO will provide Ops with their anticipated budget requirements over the next quarter and a breakdown of how they plan to spend it. This should be completed no later than two weeks before the end of the current quarterly period.
2. Ops will review the budgets submitted and if necessary begin a dialogue with a particular subDAO if there are irregularities.
3. Once Ops is satisfied with each subDAO’s budget request, Ops will present a consolidated quarterly budget proposal to BAL token holders through the governance process on the forum.
4. After the consolidated proposal is successfully approved, the DAO Multisig will disperse the entire quarterly budget to each subDAO’s Gnosis Safe. If a subDAO does not have a Gnosis Safe, Ops will custody the budget on behalf of that subDAO. Note that the subDAO retains full and sole authority to authorize disbursements from their budget allocation even if Ops has custody.
5. Each subDAO will keep a record of all disbursements from their quarterly budget allocation that contains the following information: Date, Amount, Reason (what the funds are being spent on), and a link to the on-chain transaction. See this example template.

Transparency

Ops strongly believes in full transparency when it comes to spending DAO funds. The records kept by each subDAO will be shared with the community as part of the consolidated budget proposal in the next quarter. If an accurate record is not kept, the subDAO risks not being allocated funds as part of the next budget proposal. The signers (leads) of each subDAO are accountable to Ops for how the budget is spent and Ops is accountable to BAL token holders for ensuring DAO funds are used responsibly.

Reports

Q1 2022

Q2 2022