[MoF] 2444 - Financial update

Day 2,444, 05:25 • Published in Belgium Belgium • by NBB-BNB


Good morning eBelgium,

It's been a while since we updated you on our finances.

Four points to cover:
- Congress donations
- Latest tournament
- Monetary market
- Financial overview

Congress donations:
As you can read here our previous congress debated on ways to cover our MPP costs. As it used to be the case over a year ago, congress members donated their congress medal gold back to the state, because they were not running for congress for the gold, but to help eBe. In order to increase our ever lower tax income, congress debated if they could re-instate this practice.

During the debate it became clear that it would not be made mandatory, and that younger congress members would not be expected to donate 5 gold, but could choose to donate only a part of their medal gold, up to the amount they felt comfortable with.

Since it would remain voluntary, it was never voted into a law, however several congress members decided to lead by example and donate their gold, or the CC equivalent of the gold. Inspired by this non-congress members also donated. Below the people and amounts donated.



Conclusion: we received 30.000 CC from donations during the July congress term. (even if less than half of congress donated their CM gold)

Ps: for our current congress a new thread is opened here. Ways to donate are:
- Donate to country account: country account *
- Donate to the eBe bank by using the offer on the MM, buy 0.01 cc for every gold you want to donate *

- Donate to the MoF (currently SX80)

* For donations to the bank, or to the country, please make screenshots and post them on the debate thread for this month,so I can include you in the list of people who donated.

Latest tournament:
During the latest tournament we provided with daily Q7 tanks and daily joined strikes where additional Q7 tanks could be received to boost the damage you could make for eBe. Almost 800 Q7 tanks were distributed during strikes, and close to 3200 Q7 tanks were donated for the daily rewards. A little over 42K was spend in buying these tanks.

As a result of our combined efforts we reached the 300% damage mark, and gained a total of 825 gold (good for 165.000). If you are wondering where the gold is, well, gold in the state account can't really be used, so congress decided to print money (at 200 cc/gold). From this money 120K was transferred to our bank, leaving the rest in the state account to fund future MPP's.

Conclusion: we made more than 120.000 cc profit with the last tournament.

Monetary market
The old scheme of selling CC for gold, and selling the gold above 200 cc to make a little profit has fallen apart since the gold price went under the 200 cc price.

Conclusion: MoF is no longer working the monetary market

There could be a profit in printing money (at 200 cc), and buying back gold at less than 200 cc, but congress needs to work it out and decide if this is something they want to do. If the help from MoF is required, let me know.

Financial overview
The latest update was from day 2322, the balance at that time was:
275.146 CC
1486,25 gold

Our current (day 2444) balance is :
374.100 CC (+98954)
1071,80 gold (-414.45)

Conclusion: in CC equivalent (using 200 CC / gold to calculate) we gained 16.000 CC in the last 122 days.

Ps: if you wonder why it isn't more considering the tournament income and 30K in donations (and I know you will ask), we had expenses due to the ePakistan airstrike and the war with eFrance, roughly 100 days ago.

SX80
MoF

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