# Orb Collective May 2023 Ops & GRC Update

**URL:** https://forum.balancer.fi/t/orb-collective-may-2023-ops-grc-update/4851
**Category:** Orb Collective
**Created:** [June 7, 2023, 6:55pm UTC](https://forum.balancer.fi/t/orb-collective-may-2023-ops-grc-update/4851 "2023-06-07T18:55:05Z")
**Posts on this page:** 1
**Page:** 1

<div class="post-metadata">

### Author: ![immutbl](https://yyz1.discourse-cdn.com/flex027/user_avatar/forum.balancer.fi/immutbl/32/272_2.png) [@immutbl](https://forum.balancer.fi/u/immutbl)
#### Post date: [June 7, 2023, 6:55pm UTC](https://forum.balancer.fi/t/orb-collective-may-2023-ops-grc-update/4851/1 "2023-06-07T18:55:05Z")

</div>

**Ops**

DAO reports

- [Updated Q2 budget forecast](https://forum.balancer.fi/t/orb-collective-updated-q2-budget-forecast-5-12-23/4775)
- [2.5 month plan](https://forum.balancer.fi/t/rfc-orb-collective-s-path-forward/4778)
- [BAL inventory breakdown](https://forum.balancer.fi/t/orb-collective-bal-inventory-breakdown-5-12-23/4774)
- [OpCo invoice recon](https://forum.balancer.fi/t/reconciliation-of-invoices-paid-by-the-opco-to-orb-collective-prepared-by-the-opco/4776)
- [April financial retro update](https://forum.balancer.fi/t/orb-collective-april-2023-financial-update/4808)
- [June budget forecast](https://forum.balancer.fi/t/orb-collective-june-2023-budget-forecast/4813)

Wind-down process

- Dissolution agreement: finalized and signed by board of directors, dissolution date: 8/15
- Dispute negotiation with EOR
- Plan for 2023 estimated tax payment and post-dissolution tax filing
- Plan for post-dissolution mail handling
- Negotiations with 401K provider for employee transfers
- Reviewed contracts, terms for 17 vendors/partners
- Plan for timeline to terminate all external agreements without interrupting team’s work

Misc

- Management of possible early termination scenario based on BIP earlier in the month
- Offboarding process for 3 team members
- Weekly team sync meetings
- Resolved outstanding marketing bills
- Resolved final expenses and bills from April on-site
- Review, approval/denial, writing/sending of bills, invoices, reimbursements

* * *

**GRC**

Much of our GRC work is confidential to protect the ecosystem. Below are highlights of the most important projects.

- Facilitated discussions on :
  - Takeaways from governance process around Orb transition
  - Threats to legal decentralization where entities/token holders have influence/control/manage operations of the ecosystem

- Understand and proactively protect against potential threats re: legal/regulatory risks:
  - Reg strat meetings, research & advice: trade association, partner & defi education fund calls to vet GRC framework & discuss decentralization strategy. Ad hoc advice to marketing and business development resources.
  - Ops Risks: Vendor, service provider, governance and human resources matters for wind down and contributor turnover, managing Ops risks and legal agreements with vendors etc. Facilitate risk mitigation for collections on legacy vendors.

- Promote Balancer’s further decentralization:
  - Advice on transition and wind down plans and proposals re: DAO, foundation, OpCo etc.