Index Coop - November 21 - Budget vs Actuals
The F.Nest is pleased to present the second iteration of its regular review of the DAO’s Budget Vs Actual Report. We will be posting a fresh report each month highlighting areas of spend vs budget.
The above report is split over two pages as follows:
- First page - Overview and specific insights into spending activities
- Second page - Summary table of operating expenses by working group
At the end of November, the Index Coop’s actual total spend for the month was $596,280.93 , with the forecast total spend being $824,718.50 . However, when compared to October there has been a +8.30% increase in operational costs overall.
At a working group level all were within total allocated budget
Contributor rewards accounted for 69% of overall costs
November Saw a 167% increase in expenses ( other expenses excluding contributor rewards), Beta Finance partnership accounted for $102k of expense (53% of total)
Growth & Marketing continued as the greatest spender at $93,922.25
Business Development (-2.4%), Creative & Design (-3.6%), Engineering (-5.6%) and Asia Pacific (-8.8%) all overspent in their allocation of rewards (excluding WG lead salaries)
Overall there has been a general upward trend in $ spend which has been largely offset in $ terms by the depreciating $INDEX price causing a 53.86% reduction in fixed contributor rewards
Please do drop a comment below and let us know what you think.