---
# System prepended metadata

title: 'RWF-001: December 2021 Budget Statement'
tags: [Budget statement]

---

---
tags: Budget statement
---


# RWF-001: December 2021 Budget Statement

**Status:** Reviewed

Link to RWF-001 MIP Budget*: https://forum.makerdao.com/t/mip40c3-sp61-modify-core-unit-budget-real-world-finance-rwf-001/13152

Link to RWF-001 MIP MKR Compensation (RWF-001): https://forum.makerdao.com/t/mip40c3-sp38-real-world-finance-core-unit-mkr-compensation-rwf-001/10447

Link to new RWF-001 Multisig ledger [here](https://docs.google.com/spreadsheets/d/19tIncBWQdRQSHPF_271R1LrFMmj6dQe8/edit?usp=sharing&ouid=114529981085695499641&rtpof=true&sd=true)

*MIP budget in RFC stage. Subject to change.

---

## 1. Last Month´s Actuals

The RWF-001 CU will report from January 2022 as per SES recommended budget statement standards. 

Actuals reported by previous facilitator are visible [here](https://docs.google.com/spreadsheets/d/17zB2ZJ-ANVVCH2cN68hZZHBCq_kClEk_qr6q1H_auSI/edit#gid=971858318). 

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## 2. Budget Forecast -- 3 Months

### Overview

| January 2022 | February 2022 | March 2022 | 3-Months | Mthly Budget Cap* | Qtly Budget Cap* | Annual Budget Cap + Buffer |
| ------------ | ------------- | ---------- | -------- | ----------------- | --------------- | -------------------------- |
| 115,655.82   | 151,376       | 270,330    | 537,361  | 155,000           | 465,000         | 1,860,000                  |

*Based on existing budget approved. 

### Breakdown

| Forecast              | January 2022 | February 2022 | March 2022 | 3-Months   | Old Qly Budget Cap | MIP Budget Forecast/ CAP\*\* |
| --------------------- | ------------ | ------------- | ---------- | ---------- | ------------------ | ---------------------------- |
| Compensation          | 90,147.00    | 83,499.00     | 153,450.00 | 327,096.00 | 315,000.00         | $465,000                     |
| Professional Services | 20,000.00    | 50,000.00     | 100,000.00 | 170,000.00 | 60,000.00          | $300,000                     |
| Real-world structures | 0.00         | 0.00          | 0.00       | 0.00       | 30,000.00          | $12,000                      |
| Data-infrastructure   | 0.00         | 0.00          | 0.00       | 0.00       | 30,000.00          | $0                           |
| Payment fees          | 5,508.82     | 7,376.96      | 11,879.55  | 24,765.33  | 0.00               | $25,500                      |
| Gas Fees              | 0.00         | 1,000.00      | 0.00       | 1,000.00   | 0.00               | $1,500                       |
| Software Costs        | 0.00         | 5,000.00      | 5,000.00   | 10,000.00  | 0.00               | $15,000                      |
| Travel Costs          | 0.00         | 4,500.00      | 0.00       | 4,500.00   | 0.00               | $6,000                       |
| Contingency Buffer    | 0.00         | 0.00          | 0.00       | 0.00       | 30,000.00          | $30,000                      |
| **Total**                 | **115,655.82**   | **151,375.96**    | **270,329.55** | **537,361.33** | **465,000.00**         | **855,000.00**                   |


**MIP budget in RFC stage. Subject to change before formal submission. Professional services costs from external legal consultations account for most of the change in the budget.

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## 3. MKR Vesting Overview

Total FTE: 5.7 (est. April 2022). Total Part Time: 4 (50% capacity).

This overview is based on the approval of [MIP40c3-SP#38](https://forum.makerdao.com/t/mip40c3-sp38-real-world-finance-core-unit-mkr-compensation-rwf-001/10447), RWF-001 current MKR Incentive Proposal.

| Vesting Date | MKR Amount | Last Month | Change    | Reason(s)   | Budget Cap on 7 FTE* |
| ------------ | ---------- | ---------- | --------- | ----------- | ------------------- |
| April 2022   | 243 MKR    | 560 MKR    | \-317 MKR | FTE Changes |                     |
| July 2022    | 205 MKR    | 140 MKR    | 65 MKR    | FTE Changes |                     |
| October 2022 | 161 MKR    | 140 MKR    | 21 MKR    | FTE Changes |                     |
| January 2023 | 201 MKR    | 140 MKR    | 61 MKR    | FTE Changes |                     |
| April 2023   | 114 MKR    | 140 MKR    | \-26 MKR  | FTE Changes |                     |
| July 2023    | 114 MKR    | 140 MKR    | \-26 MKR  | FTE Changes |                     |
| October 2023 | 114 MKR    | 140 MKR    | \-26 MKR  | FTE Changes |                     |
| January 2024 | 114 MKR    | 140 MKR    | \-26 MKR  | FTE Changes |                     |
| April 2024   | 114 MKR    | 140 MKR    | \-26 MKR  | FTE Changes |                     |
| **Total**        | **1,379 MKR**  | **1,680 MKR**  | **\-301 MKR** |             | **1,680 MKR**    

MKR Transfer: 240 over vesting period. Trasferred to SF CU contributors	https://makerburn.com/#/expenses/vesting

*Budget cap is estimated on 7 FTE at 80 MKR/FTE.

The _Change_ column indicates any changes in the MKR vesting amounts compared to last month, with the _Reason(s)_ column indicating why the amounts changed. Reasons may include: New hires, FTE changes, Promotions, or Terminations.

### FTE

| Team members       | Headcount | FTE(Full-Time Equivalent)* |
| ------------------ | --------- | ------------------------- |
| Facilitator        | 1         | 1                         |
| Senior Consultants | 2         | 1.7                       |
| Consultants        | 1         | 1                         |
| **Total**              | **4**         | **3.7**                       |

*Senior consultants at 90% and 80% FTE equivalent, respectively, in January.

---

## 4. Transfers

### DAI Transfers -- December 2021

| Wallet           | 3-month Estimate | Current Balance | Transfer | Multi-sig Address                          |
| ---------------- | ---------------- | --------------- | -------- | ------------------------------------------ |
| RWF CU           | 537,361          | 0               | 537,361  | 0xD1505ee500791490DE8642353BA6A5b92e3550F7 |
| **Totals**           | **537,361**          | **0**               | **537,361**  | |

To see multisig transactions: [RWF-001 Multisig](https://etherscan.io/address/0xD1505ee500791490DE8642353BA6A5b92e3550F7#tokentxns) and
[Auditor Wallet](https://etherscan.io/address/0x96d7b01Cc25B141520C717fa369844d34FF116ec#tokentxns)