[UPDATES] DAO Financial Report - January 2024

Summary

December was a solid month for us financially. We saw our treasury bump up from $47.6 million to just over $49 million, thanks to the GTC tokens doing well with a 2.25% rise. We kept our spending in check too, at $657,387, which is nicely under budget by about 6.43%. It’s a great way to round off the year and puts us in a really good spot for 2024.

Overview

  • Last Month’s Treasury Holdings: $47,657,512
  • Current Treasury Holdings: $49,053,231 (Includes both stablecoin and GTC holdings)
  • Variance (+$1,368,934, 2.87%): Primarily attributed to a positive impact on GTC token holdings (2.25% increase in value) and a decrease in monthly operating expenses across all workstreams (-$657,387).

The notable increase in our treasury, driven by the growth in GTC token value, reflects the dynamic nature of our financial assets, coupled with spending 6.09% under our targeted budget, positions us favorably for continued financial strength in the coming seasons.

Runway

The total GTC held in the treasury had a value of $44,304,007, with a GTC price averaging $1.281007 per token over the past 30 days. Calculating our current Runway based on holdings and current prices, we project a robust 70 months.

Our rate of GTC to other assets stands at 84.16%, emphasizing that the performance of the token significantly influences our treasury. As a proactive measure, it is crucial to closely monitor this dependency and strategize ways to diversify our treasury holdings, ensuring continued financial resilience and adaptability to market dynamics.

Last Month’s Expenditure: $657,387, showcasing a applaudable 6.09% ($42,613) under our targeted budget of $700,000. This disciplined budget adherence further reinforces our commitment to efficient resource allocation.

December

November

Token spend in December

In December, our total spending in USD amounted to $657,387. The breakdown includes $542,436 in USDC, 70,358 GTC valued at $91,016, and $23,935 in cash equivalents (Rain Credit Card).

Key Financial Insights December

Total Contributor Costs

  • The total contributor costs, encompassing both full-time contributors and part-time support (headcount and other consultants), amount to $614,508. This reflects a decrease of -$38,042, constituting a -6.19% reduction.

Other Notable Operating Expenses

  • There were no significant expenses recorded in December that required a detailed breakdown.
    • Software & Subscriptions: $22,036. 8.19% over budget ($20,231) due to unsettled chargebacks from workstreams (funds covered by the Foundation that are reimbursed (eg software subscriptions).
    • Travel, Lodging, and Meals: $13,992. 53.47% under budget ($21,473)
    • General and Administrative: $6,851. 508.53% under budget ($41,691)

This breakdown illustrates the significant cost savings achieved across various operating expense categories, reinforcing our commitment to financial efficiency and prudent resource allocation.

Summary

unnamed (44)

Actuals Budget Variance % Difference
December

$657,387

$735,946

-$78,559

-11.95%

Monthly Breakdown

December

Actuals Budget Variance % Difference
Headcount

$560,876

$588,294

-$27,417

-4.89%

Other Consultants

$53,632

$64,257

-$10,625

-19.81%

Software & Subscriptions

$22,036

$20,231

$1,805

8.19%

Travel, Lodging and Meals

$13,992

$21,473

-$7,481

-53.47%

General and Administrative

$6,851

$41,691

-$34,840

-508.53%

Wallet(s)

Treasury

Timelock

Asset Overview

Other Reading:

Treasury Diversification September 2022

3 Likes

Thanks for the update @deltajuliet

Did all the items mentioned in Gitcoin Treasury Diversification Update get executed? Is there any resource avaliable on the current thought process and possible next steps about the treasury?

1 Like