Board Finance Committee Minutes 18 November 2008

The Board Finance Committee convened a meeting on 18 November 2008 17:30 UTC.

Committee members present: Raimundo Beca, Dennis Jennings, Steve Crocker, Rajasekhar Ramaraj (Chair).

Highlights of the actions completed, discussions held, and actions initiated include:

• Approved minutes for the October BFC meeting. Steve Crocker abstained due to being a new member of the BFC.
• Discussed the feedback received from the community on the new gTLD fee structure as set forth in the 1 st draft applicant guidebook. Action: Requested staff to prepare a summary of the feedback as well as draft responses to be used for BFC discussion at the January 2009 meeting.
• Discussed the proposed functional reporting for ICANN. Action: Requested staff to add overhead details, clarify content of each category, and update with actual YTD information. Prepare for public posting.
• Discussed the status of the international currency exchange (FX) hedging project. Action: Requested staff to update and send the FX Board submission paper to the BFC for review and then to the Board for action at its next meeting.
• Discussed the status of the preparation of the FY08 IRS Form 990. The FY08 Form 990 will be filed before the IRS deadlines. Noted that a new Form 990 which may require Board approval before posting is only applicable for the FY09 year. Action: Staff will prepare notification and education materials for the BFC, audit committee and/or Board in regards to the new Form 990.
• Discussed the schedule of meetings and project list for the BFC for calendar year 2009. Action: Requested staff to prepare a docket aligning the projects with the specific meetings.