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Minutes – Board Finance Committee (BFC) Meeting 28 January 2010

BFC Attendees: Rajasekhar Ramaraj – Chair; Gonzalo Navarro and George Sadowsky

Other Board Member Attendees: Dennis Jennings (BFC observer) and Bruce Tonkin (BFC Observer)

Staff Attendees: Doug Brent – Chief Operating Officer; Kevin Wilson – Chief Financial Officer; Samantha Eisner, Diane Schroeder, and Amy Stathos

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

  1. Reviewed the status of the strategic BFC project plan and future meeting planning.
    • Action:
      • Staff to revise work plan as identified by BFC.
      • Staff to review dashboard financials to ensure accurate reporting.
  2. Received update on FY11 budget planning and revenue strategy to prepare the budget for posting for community input. Staff identified that the draft budget maps to the strategic plan categories, and reflects a greater amount of input and feedback than in prior years.
    • Action:
      • Staff to finalize draft of budget framework for discussion at February BFC meeting.
  3. Received an update on the FY10 budget and expenditure to date, on the cost containment procedures under way to assist in managing expenditure, and on the need to access the FY10 budget contingency line item to cover additional expenditures. The BFC requested that staff make clear that any cost costing measures do not include reduction of essential ICANN services, which would require broader discussions. The BFC unanimously approved recommending that the Board approve accessing the FY10 budget contingency line item for operational expenditures in FY10.
    • Actions:
      • Staff to ensure that BFC concerns of maintaining ICANN essential services in furtherance of ICANN’s mission are reflected in FY10 cost containment budget discussions.
      • Staff to revise draft FY11 operating plan and budget framework to reflect BFC comments.
  4. Received update from staff on the drafting of Cost Accounting Framework and the Procurement Guidelines.
    • Actions:
      • Staff to address BFC comments and revise document accordingly.
      • BFC members to provide feedback on both documents.
      • Staff to facilitate receipt of comments on both documents from the Audit Committee and consolidate with comments identified by BFC members for consideration at a February BFC meeting.
  5. Received update from staff on status of the preparation of ICANN’s Form 990 filing and planning for Board member training on the Form 990 at the Nairobi meeting.

  6. Received staff update on oversight and identification of internal controls related to retirement plan.
    • Action:
      • Staff to continue to provide BFC with updates on review of internal controls.
  7. Received update from staff on budget for Nairobi meeting.
    • Action:
      • Staff to provide BFC with resolution on Nairobi budget for consideration at February BFC meeting.