Board Finance Committee (BFC) Meeting Minutes 10 May 2011

BFC Attendees: Rajasekhar Ramaraj – Chair; Sébastien Bachollet; Cherine Chalaby; George Sadowsky

Apologies: Gonzalo Navarro (Observer); Katim Touray (Observer)

Other Board Attendees: Steve Crocker

Staff Members Present: Akram Atallah – Chief Operating Officer; Kurt Pritz – Senior Vice President, Services; Juan Ojeda, Diane Schroeder and Amy Stathos

The following is a summary of discussions, actions taken and actions identified:

  1. FY12 Draft Operating Plan and Budget: The BFC discussed the draft FY12 Operating Plan and Budget that is scheduled for posting on 17 May 2011. The staff provided explanations relating to assumptions on the new gTLD program, salaries, meeting the ATRT recommendations and the ongoing reviews arising out of the Affirmation of Commitments and how those assumptions are reflected within the budget.

    • Actions:

      • Prior to posting, staff to revise the summary to reflect the BFC comments regarding the explanation of changes to the budget. The revised summary will be circulated to BFC members for review.

      • Staff to schedule the BFC meeting at the Istanbul retreat to allow for three hours of discussion of budget-related issues, including a thorough review of the proposed budget to meet the ATRT recommendations.