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
| 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% |