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Summary

• Our ideal budget for calendar years 2014 and 2015 is $40.6M, broken down as follows:

• Our ideal revenue scenario would see funds for CY 2015 arrive by the end of CY 2014, letting us plan managerial time efficiently and avoid costs of hiring / rehiring field staff

• Our priorities for experimentation with transfer funds would includea) Expanding current pilot work with ideas42 on optimizing transfers using behavioral economics.b) Launching new research on the aggregate impacts of transfers on local economies.c) Community-based targeting methods, pending pilot results.

• Our domestic team would be tasked with two objectivesa) Develop new technology for use in the field (e.g. enhanced data capture apps, management information

systems, remote sensing algorithms)b) Prepare and execute a strategy for entering institutional markets (e.g. executing cash transfers for govts)

CY 2014 CY 2015

Cash transfers $13.3M* $24.4M

Domestic team $1.3M $1.6M

Total $14.6M $26.0M

• The main assumptions underlying this budget are (a) 2 Field Directors through 2014, increasing to 3 for 2015, and (b) per-FD capacity similar to previous estimates through October 2014, and then higher as we introduce new management technology and shift to employing parallel census/enrollment/backcheck teams.

*Of which $11.7M currently unfunded.