Board Finance Committee (BFC) Minutes 16 April 2009

Board Finance Committee (BFC) members present: Raimundo Beca, Steve Crocker, Dennis Jennings, Rajasekhar Ramaraj - (Chair), and Bruce Tonkin.

Staff members present: Doug Brent, Samantha Eisner, Diane Schroeder, and Amy Stathos and Kevin Wilson

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

  • Unanimously approved previous BFC meeting minutes.
  • Received update on the FY10 Operating Plan and Budget Status; discussed competing requests for reduction in Registrar Transactional Fees and increases in travel support funding. Action: Staff will provide additional information to committee regarding budget impact based upon received feedback including increased travel support, reduction in registrar fees, and more support costs.
  • Received and discussed update on cost analyses by stakeholder interest area; discussed new reporting mechanisms, and CFO reports that will produce detailed information for committee on methodology of new reporting forms. Also discussed IDN costing analysis. Action: Staff to continue to modify cost reporting methodology, provide draft of paper analyzing cost analyses.
  • Received update on Investment Policy and performance of investment fund since Mexico City including answers to specific questions asked by BFC in Mexicio City CFO reported that investments gained approximately US$1million in March 2009. Action: Staff will review proposals to review Investment Policy and will present to BFC basis for selection and scope of work to BFC.
  • Received update on Seoul meeting budget and unanimously voted to recommend that the Board approve revised budget of $1.99 million which included items previously considered outside of the Board approved meetings budget such as fellows and ALAC.
  • Discussed timing of May BFC meeting.