Activités et réunions du Conseil d’administration
BFC Attendees: Becky Burr, Edmon Chung, Avri Doria, Danko Jevtović (Chair), and León Sánchez
BFC Member Apologies: Harald Alvestrand
Other Board Member Attendees: James Galvin and Katrina Sataki
ICANN org Attendees: Xavier Calvez (SVP, Planning and Chief Financial Officer), Franco Carrasco (Board Operations Specialist), Kim Davies (Elizabeth Le (Associate General Counsel), Becky Nash (VP, Planning), Shani Quidwai (Sr. Director, Finance), and Amy Stathos (Deputy General Counsel)
Invited Guests: Representatives of ICANN's Reserve Fund Investment Manager
The following is a summary of discussions, actions taken, and actions identified:
- BFC Workplan – The BFC discussed its Workplan for the year, which is on target. ICANN org noted that there are two BFC meetings being scheduled for February 2023.
- ICANN Reserve Fund Performance Review – The BFC received a presentation from ICANN's Reserve Fund investment manager, State Street Global Advisors (SSGA). They reviewed the overall performance of the portfolio. They discussed ICANN's long-term asset allocation, which is consistent with the objectives and risk tolerance of the Investment Policy. SSGA also discussed ICANN's tactical allocation, which reflects strategic allocations for shorter term views on the market environment. SSGA reviewed the market conditions over the course of 2022, which impacted the portfolio's performance in 2022. Overall, the portfolio remains in good shape from a longer-term perspective and has had returns of approximately four and half percent since SSGA began managing the funds. The Committee engaged in a discussion concerning the economic outlook for 2023, including the impact of U.S. inflation and market volatility. While the risks presented by inflation remain present, there are indications that this risk is improving. However, despite an improved outlook on inflation, it is anticipated that the U.S. and Europe will be in a "growth recession" in 2023 with further downside risks and that the sub-trend growth will continue into 2024.
FY24 IANA Operating Plan and Budget (FY24 IANA OP&B) for Adoption – The BFC considered the org's recommendation that the FY24 IANA OP&B be moved to the Board for approval. The IANA OP&B includes itemization of all costs for Public Technical Identifiers (PTI) to perform the IANA functions, direct costs for shared resources between ICANN and PTI, and support functions provided by ICANN to PTI for the next fiscal year. ICANN org reported that the drafts of the FY24 IANA OP&B and the FY24 PTI OP&B, which were developed following numerous discussions with the ICANN community, were published for public comment from 15 September through 17 November 2022. A report of public comments was published on 19 December 2022. ICANN org received comments from eight different groups. All comments received were reviewed and responses to the comments were provided. After careful evaluation and consideration of the comments, ICANN org concluded that there were no changes to the IANA and PTI plans resulting from the public comments received. The PTI Board adopted the FY24 PTI OP&B on 12 January 2023. The draft FY24 IANA Budget is US$11 million, of which $10.5 million is the PTI Budget component and US$0.6 million is for IANA support activities (not performed by PTI). Following discussion, the BFC recommended that the Board approve the FY24 IANA OP&B.
- Actions: ICANN org to prepare relevant Board materials.
- Activity Based Reporting Overview – The BFC received a briefing on the activity-based reporting that ICANN org is developing as a way to supplement its financial reporting.