Hello, Balancer community! Here’s the final update on our Q4 event.
Overall, it was another very successful meet-up. Teams got together in three full days of meetings and bonding activites. We started the working days with a hearty breakfast at the Hilton Milan, where we secured a very well-equipped meeting room. After some retrospectives, brainstorming and many iterations, we could sit outside in the great Italian weather for lunch. Teams could also play a cool escape room game, go on a bike tour around town and - of course - experience a typical Milanese food tour 
After the Maxis took over the event planning for Q4 ONsite in Milan (early July), we followed the capped budget and whatever was previously contracted. Attendee numbers fell to 15 DAO contributors (from 25) due to Orb sunsetting and unexpected cancellations. We still managed to keep it below 3,750 USDC per person, however, far from what we expected. Given the lower attendance and the travel agent’s super-high fees already under contract (by Orb/BLabs), the overall cost was still very high.
These are great events to favor communication and professional relationships. We look forward to the next one. But now planning ahead and keeping our feet on the ground, Governance should expect a much lower budget proposal for the next edition of the Balancer Ecosystem ONsite.
The Maxis have already started planning for Lisbon’24, and we’ll soon present a funding proposal. We find it extremely valuable for Balancer DAO contributors to tag along with Balancer Labs, and I’m sure this will in another very productive event. 
Below is the cost breakdown for Milan:
| TRAVEL | |
|---|---|
| Flights | $14,233.61 |
| Ground Transportation | $1,167.60 |
| $15,401.21 | |
| STAFF ACCOMMODATIONS | |
| Guestrooms (includes breakfast) | $13,330.00 |
| Taxes | $1,705.00 |
| $15,035.00 | |
| FOOD & BEVERAGE | |
| Per diems | $700.00 |
| Meals (not including hotel lunch and breakfast) | $2,927.24 |
| $3,627.24 | |
| MEETING EXPENSES | |
| Meeting Room Package (includes cb and lunch) | $6,053.28 |
| Shipping Canvas Supplies | $25.95 |
| $6,079.23 | |
| EXPERIENCES | |
| Activities, local agent and fees | $3,477.04 |
| Arrival Gift / Swag | $844.15 |
| $4,321.19 | |
| CANVAS MEETINGS INCENTIVES LLC | |
| Management Fee | $5,985.00 |
| Onsite Lead Planner | $3,214.29 |
| Travel Leaders Fee (Flights) | $850.00 |
| Expenses Onsite planners | $955.89 |
| $11,005.18 | |
| Grand Total | $55,469.05 |
| Per person | $3,697.94 |
Surplus: $38,280.95 (currently held at Balancer OpCo Limited)
Note: All of BLabs expenses were paid separately or split proportionally by the number of contributors. The DAO Treasury hasn’t paid for any expense for Balancer Labs or its employees.