Harris & Trotter Proposal for stake.link: Comprehensive Financial Management Services
Proposal Overview:
Harris & Trotter are pleased to offer a tailored DAO operator service to stake.link, designed to meet the unique needs of a growing blockchain platform. Our extensive experience in the industry ensures that all financial processes, from daily bookkeeping to long-term cash flow planning, are managed with precision and efficiency.
Detailed Service Breakdown:
1. Bookkeeping:
- Service Description: H&T will maintain detailed records of all financial transactions, including both fiat and cryptocurrency. Our team will ensure accuracy and compliance, providing a solid foundation for all financial reporting.
- Objective: To maintain accurate, up-to-date financial records, enabling clear visibility into stake.link’s financial health at any given moment.
- Deliverables: Monthly bookkeeping with transaction level audit trails.
2. Annual Accounts:
- Service Description: Preparation and filing of stake.link’s annual financial statements, adhering to relevant regulatory requirements. This service ensures that the company remains compliant with all necessary financial regulations.
- Objective: To provide comprehensive, compliant annual financial statements that reflect the company’s true financial standing.
- Deliverables: Fully prepared annual accounts, submission to regulatory bodies where appropriate, and management briefing reports.
3. Management Accounts:
- Service Description: Regular preparation of management accounts on a monthly or quarterly basis, offering insights into financial performance and assisting in strategic decision-making.
- Objective: To provide stake.link’s management with actionable financial insights, supporting informed decision-making and strategic planning.
- Deliverables: Custom management reports, variance analysis, and performance summaries.
4. Budget Planning:
- Service Description: H&T will assist in the creation and monitoring of annual budgets, ensuring financial targets are set realistically and met consistently.
- Objective: To align financial resources with stake.link’s strategic goals, ensuring sustainable growth and operational efficiency.
- Deliverables: Initial budget drafts, monthly budget vs. actuals analysis, and recommendations for adjustments.
5. Payment Processing:
- Service Description: Handling of both fiat and cryptocurrency payments with secure, efficient processing systems. This includes payroll, vendor payments, and more.
- Objective: To ensure that all payments are processed smoothly and securely, minimizing transaction errors and delays.
- Deliverables: Weekly payment batches and confirmation reports. We have a full team of payment processors with 4 points of review and approval ahead of issuing payment.
6. Setting Up Accounting Systems:
- Service Description: Implementation of customized accounting systems that are tailored to stake.link’s operational needs, particularly in managing complex cryptocurrency transactions.
- Objective: To streamline accounting processes and improve financial data management through advanced systems.
- Deliverables: Fully functional accounting software setup, crypto subledger setup and ongoing operations. We partner with leading companies from accounting software companies, invoicing tools, and crypto subledgers.
7. Cashflow Planning:
- Service Description: Proactive cash flow management to ensure that stake.link maintains sufficient liquidity to meet its operational needs while supporting growth.
- Objective: To optimize cash flows, ensuring that stake.link is always in a strong financial position to pursue new opportunities.
- Deliverables: Detailed cash flow forecasts, liquidity analysis, and strategic cash management advice.
Budget Request:
- Total Budget Required: £60,000 per annum, payable in stablecoins
- Budget Justification: This budget covers the comprehensive suite of financial management services necessary to support stake.link’s operations and growth. The proposed services are designed to provide robust financial oversight, strategic planning support, and compliance assurance.
Impact on stake.link:
- Operational Efficiency: Improved financial management will enable stake.link to streamline operations, reduce costs, and focus on core activities.
- Strategic Growth: By ensuring accurate financial reporting and proactive cash flow management, stake.link will be better positioned to capitalize on growth opportunities in the blockchain space.
- Compliance and Risk Management: Enhanced regulatory compliance and risk management processes will protect stake.link from potential legal and financial risks.
About H&T:
Harris & Trotter are the largest professional services providers for the Cybernetic economy. Working with close to 600 crypto native companies and have serviced DAOs for nearly 8 years. H&T work with companies such as Optimism foundation, dydx ops dao, CyberFund, Wintermute, and Orbs. We are a technology oriented professional services firm and global market leaders in accounting, audit, tax and advisory services to the digital asset space. For over 80 years Harris & Trotter LLP has assisted clients navigating changes in technology and the evolution of financial markets.
Our team is made up of chartered accountants with backgrounds in the Big 4 or BDO, and bring experience from working on global audit engagements, data analytics regulatory advisory, private business.
Conclusion:
H&T is committed to supporting stake.link with high-quality, comprehensive DAO operation services. Our expertise in blockchain-related accounting ensures that stake.link will have the financial foundation needed to thrive in a rapidly evolving industry.