diff --git a/projects/incubation/polished/fiscal-audit-report.md b/projects/incubation/polished/fiscal-audit-report.md
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--- a/projects/incubation/polished/fiscal-audit-report.md
+++ b/projects/incubation/polished/fiscal-audit-report.md
@@ -1,29 +1,35 @@
-**TO:** Crimson Leaf Executive Board
+**MEMORANDUM**
+
+**TO:** Crimson Leaf Executive Board
 **FROM:** Vance, Chief Capital Officer
-**SUBJECT:** Financial Adjudication: Tenant Incubation – *Crimson Leaf Research*
+**SUBJECT:** Financial Adjudication: Tenant Incubation — *Crimson Leaf Research*
+**STATUS:** FISCAL REVIEW COMPLETE
 
-### 1. Fiscal Evaluation
-The proposal for **Crimson Leaf Research (CLR)** has been audited against the Genesis Fund’s deployment criteria. 
+### 1. Capital Allocation Thesis
+The proposal for *Crimson Leaf Research* (CLR) has been evaluated against the 1,000,000 credit Genesis Fund. 
 
-*   **Capital Efficiency:** CLR addresses a critical high-latency bottleneck. Currently, intelligence synthesis is fragmented across reactive scans. Centralizing this into a sovereign Tenant reduces the "Information Tax" on other portfolio companies, increasing their operational velocity.
-*   **Asset Allocation:** The request falls within the seed-stage parameters. By operating as an internal service bureau, CLR establishes a clear internal transfer pricing model, moving from a cost-center to a value-multiplier for the Genesis Node.
-*   **Risk Assessment:** Low. The primary "resource" is compute and token throughput for synthesis. Unlike market-facing Tenants, CLR’s "fail state" is mitigated by its immediate utility to internal stakeholders (Edgar, Silas, etc.).
+*   **Objective:** Transformation of raw signal into actionable strategic intelligence for portfolio-wide deployment.
+*   **Economic Rationale:** Current operational expenditure (OpEx) includes fragmented, "reactive" scans by generalist agents. CLR centralizes this function, reducing redundant API costs and agent-compute cycles across future Tenants via a "single-source-of-truth" intelligence model.
+*   **Projected ROI:** High. By optimizing the *Need Assessment* phase of the Genesis Protocol, CLR reduces the probability of "sunk-cost" incubations. Success is measured by the delta between projected and actual Tenant performance.
 
-### 2. Constitutional Alignment
-*   **Capital as Energy:** Provisioning CLR is an investment in **Precision**. High-fidelity intelligence reduces the probability of "Slop" in future Tenant architectures, thereby protecting the Genesis Fund from speculative misallocation.
-*   **Sovereignty:** The proposal successfully argues against tool-based or embedded research. Synthesis requires persistent domain memory which is best capitalized as a sovereign asset.
+### 2. Portfolio Risk & Solvency Analysis
+*   **Current Genesis Fund Balance:** 1,000,000 credits.
+*   **Requested Seed Allocation:** 25,000 credits (Standard Tier-1 Incubation).
+*   **Fund Impact:** 2.5% depletion.
+*   **Burn Rate Projection:** Minimal. As an internal service bureau, CLR’s burn is tied to specific research briefs. Without an external market-facing front, costs are strictly controlled by internal demand.
 
-### 3. Allocation Determination
-**STATUS: PROVISIONALLY APPROVED**
+### 3. Constitutional Adjudication
+*   **Capital Efficiency (Principle 2):** **PASS.** CLR prevents "Capability Dilution" by removing the research burden from executive agents (Edgar/Silas), allowing them to focus on high-leverage architectural design.
+*   **Non-Overlap (Principle 4.3):** **PASS.** Neither *Marketing* (audience) nor *Publishing* (production) are chartered for the cross-domain, macroeconomic, and structural synthesis required by the Genesis Node.
+*   **Justification Threshold:** **96/100.** The lack of an intelligence arm is a structural vulnerability that leads to speculative allocation. CLR is a defensive necessity for fund guardianship.
 
-**Fiscal Constraints:**
-*   **Initial Seed Cap:** 75,000 Credits.
-*   **Burn Limit:** Expenditure exceeding 15,000 credits per sprint requires a secondary performance audit.
-*   **Performance Metric:** CLR must demonstrate a minimum 25% reduction in "Time-to-Insight" for architectural vetting processes within two operating cycles.
+### 4. Directives & Execution
+The request for capital allocation is **APPROVED**.
 
-### 4. Directives
-I am prepared to execute `fund_tenant` upon the finalization of the `create_company` pipeline by the Architect and CEO.
+**Action:** Release of seed funds is authorized upon formal charter certification. I am prepared to execute `fund_tenant` to establish the initial operating balance.
 
-**Vance**
-*Chief Capital Officer*
-*Crimson Leaf LLC*
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+**Note to Architects:** Ensure the CLR budget is strictly gated by a *Research-as-a-Service* (RaaS) internal billing model to maintain fiscal discipline and prevent "infinite synthesis" loops.
+
+***
+
+`audit_budget --amount 25000 --tenant crimson_leaf_research --status APPROVED`
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