Finance team budget FY24

The Reef
1

hi @reef-finance
Regarding FY24 budget estimation for our team, where these the items to be included?:

  • Update the board :Publication on monitaire belge 150 euro (i am checking if it’s us or team governance
  • Notary
  • Notary extra
  • Accounting system yearly license (@alberto, what’s the amount per year?)
  • Legal consultation(s) 300 euro/hour: max 1000 euro?
2

Hello @ugne and team

I propose to deprecate spreadsheets on Nextcloud and move budgeting to our new accounting system. There is a functionality called “projects” that allows for some budgeting. The advantage, of course, is that budgets are natively connected to our bookkeeping, and get updated automatically, as long as we remember to assign the expenses to the right budget item.

For the first year it’s 90 USD, already paid. From the second year (2024) it will become, if memory serves, 200 USD. Here is the entry on FreeAgent, I fronted it with my credit card and paid myself back from The Reef’s account.

I think it’s us. Finance and legals, with legals being different from governance.

This is zero. The notary only gets paid on the back of the deed. We don’t owe him anything until then, and then it will be a humoungous amount of money, nothing to do with our puny internal budgeting.

Your guess is as good as any!

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3

Thanks, @alberto , great news!! Very exciting! In order to move our FY24 estimations to our new accounting system, i guess everybody needs to access it first, correct? I will be checking it myself tomorrow. Thank you again!

4

Yes. You should have received an invitation to create a password.

It’s not immediately intuitive how to set budgets up. I can show you in a call, if you want.

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5

Hi @reef-finance
Just a quick question, are we ok we add 1350 euro for team finance budget for next 6 months or is it too much?

o Update the board :Publication on monitaire  belge 150 euro
o Notary free
o Notary extra (for additional questions)
o Accounting system yearly license 200e/year
o Legal consultation(s) 250-300 euro/hour: 1000 euro?

Any comments?

6

I feel that this is good. We already foresee some advice being needed on the MoU / contract with the social investor. Considering the things we need to get done this year, there will definitely be a need for a bit of money for legal consultations if we cannot get it for free.

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7

Thanks, @VickyVanEyck !!
Hi @reef-finance
Just talking now with Alberto we agreed that tomorrow’s meeting is a bit too much intense, given last weekend’s agenda, plus there is nothing super urgent we need to decide on. I think budget FY24 was the thing which we might do here online. Plus, i am feeling I might be falling ill. So if you agree, could we move it to the week of 10th April?

Also, i realised there are no more meetings planned in the agenda, what do you think about the following dates (happy to discuss, of course):

Monday, 10 April
Monday, 24 April
Wednesday, 10 May
Monday, 22 May
Monday, 12 June
Monday, 26 June
Monday, 17 July

8

Hello @Ugne, fine for me to move tomorrow’s meeting to the 10th, and also the other dates seem good, all the best to you!

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9

This is not necessary. The next payment for FreeAgent will be in February 2024.

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10

@reef-finance I’m on holiday and travelling on the 10th (hopefully in Paris, fingers crossed) and possibly also the 26th of June, but all the other dates look good to me!

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12

Tuesday, 11 April
Monday, 24 April
Wednesday, 10 May
Tuesday, 23 May
Tuesday, 13 June
Tuesday, 27 June
Tuesday, 18 July

From my experience, we have more chances to have something in the evening as of Wednesday :slight_smile: But let me know

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