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Minutes – Board Finance Committee (BFC) Meeting 12 February 2010

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

BFC Observers: Dennis Jennings and Bruce Tonkin

Staff Members Present: Doug Brent, Chief Operating Officer; Kurt Pritz, Senior Vice President, Services; 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 minutes from the prior BFC meeting. All voting members in attendance approved the minutes.
  2. Received presentation from staff on the status of the draft cost accounting and procurement guidelines. The CFO noted that the both guidelines were currently before both the Audit Committee and the BFC. The BFC discussed some additional items for inclusion in the Procurement Guidelines.
    • Actions:
      • Staff to review past BFC notes to confirm all BFC member comments are addressed and incorporated into the documents.
      • Staff to distribute redline of both documents to demonstrate how AC and BFC comments were incorporated.
      • BFC to review and finalize both sets of guidelines for posting.
      • BFC to review in Nairobi if any potential changes that may be required to either set of guidelines in response to community input, and prepare to report to the Board on the completion of this task.
  3. Received presentation from staff on the draft FY11 operating plan and budget framework in preparation for posting for public comment, as well as the timeframe for the community consultations and future BFC work to allow for submission of the budget to the Board at the Brussels meeting. The BFC discussed the integration of the framework with the strategic plan, and that the framework is being produced in line with the strategic objectives directed by the BFC. The BFC also discussed assumptions and trends behind revenue forecasting, and how the IDN ccTLD Fast Track work is being built into the budget, as well as management work to better manage and set expectations for operational expenses and prioritization of needs across the organization, while retaining a focus on the key spending items. The BFC authorized staff to post the draft FY11 operating plan and budget framework for public comment.
    • Actions:
      • Staff to revise the operating plan and budget framework to address BFC comments, including the addition of line items, insertion of better descriptors for particular line items and additional comparison references..
      • Staff to meet with BFC member regarding questions on calculation of a specific line item.
      • Staff to provide historical background on the costing of the New gTLD program for new BFC members during Nairobi meeting.
      • Staff to provide a report on the expenses related to reviews and organizational restructuring activities, including the projected expenses related to the reviews set out in the Affirmation of Commitments.
      • Staff to provide the BFC with cost accounting information on the IDN ccTLD Fast Track.
      • Staff to finalize draft Operating Plan and Budget Framework for posting for public comment by 15 February, and provide for further BFC discussion on draft document at Nairobi meeting.
  4. Discussed need for the BFC to prepare a report of recent activities for presentation in Nairobi.
    • Action:
      • Staff to draft BFC report and circulate to BFC for comment prior to posting.