Index Coop - January 2022 Budget Vs Actual Report
The F.Nest is pleased to present a review of the DAO’s Budget Vs Actual Report for January 2022.
Index Coop - Budget vs Actual - January 2022 V1.pdf (742.9 KB)
The publication of the document will follow a trend of monthly budget reviews. The report is structured as follows:
- First page - Overview and specific insights into spending activities
- Second page - Summary table of operating expenses by working group in $ spend and Index spend
TLDR:
At the end of January, the Index Coop’s actual total spend for the month was $646,296, with the forecast total spend being $812,980. Since December there has been an increase of 8.22% in spend.
Key takeaways
- January saw a variance of -20.50% between forecast spend and actual spend
- Contributor rewards accounted for 85% of overall costs with an increase of 18.5% compared to December
- Asia Pacific (-16.37%), Engineering (-47.9%), Analytics (-4.8%) and Creative & Design (-0.8%) work groups were all over budget this month
- This is the third month Asia Pacific have overspend on contributor rewards coming in $19,683 over their forecast
- Engineering spend being over is largely due to the gas costs incurred in the Launch of GMI.
- Growth & Marketing continued their trend of being the largest spenders coming in at $99,303.40, with Woman In Index being the lowest spenders at $10,800
- Impression mining costs saw a 800% decrease from last month, with paid ads increasing by 300%
- Gas costs accounted for $49,460 of spend
- Even with the rebasing of the fixed stipends that were in $Index, there is a big variance between the forecasted $Index spend compared to actual $Index spend, with all WG’s overspending in terms of $Index
We will be moving to the new nest structures before the next report, in light of this change the budget vs actual report will also see a revamp. As the budgeting will be nest focused rather than working group.
Please do drop a comment below and let us know what you think.