Minutes | Board Finance Committee (BFC) Meeting
BFC Attendees: Maarten Botterman, Ron da Silva (Chair), Chris Disspain, and Khaled Koubaa, George Sadowsky
Other Board Member Attendees: Cherine Chalaby and Lousewies van der Laan
Invited Observers: Merike Kaeo
ICANN Org Attendees: Susanna Bennett (SVP, Chief Operating Oficer), Michelle Bright (Board Content Coordination Director), Xavier Calvez (SVP, Chief Financial Officer), Franco Carrasco (Board Operations Specialist), Aaron Jimenez (Board Operations Sr. Coordinator), Vinciane Koenigsfeld (Director, Board Operations), Elizabeth Le (Associate General Counsel), Becky Nash (VP Finance), Wendy Profit (Manager, Board Operations), and Amy Stathos (Deputy General Counsel)
The following is a summary of discussions, actions taken and actions identified:
Reserve Fund Replenishment Strategy– The BFC continued its discussion on the Reserve Fund Replenishment Strategy. The BFC discussed the components that were proposed and that were put out for the public comment, including contribution from excess operating expenses, auction proceeds and remaining new gTLD funds. The Committee also reviewed the principles under which the Reserve Fund should be replenished. The Committee discussed the importance of operational efficiency as fundamental with respect to the contribution from excess operating expenses, and what is a reasonable amount while ensuring that ICANN will be able to fulfill its Mission to provide the community with the strongest support from the organization. The Committee also debated numerous aspects of utilizing auction proceeds and remaining New gTLD Program funds to replenish the reserve Fund, and agreed to recommend some options for the Board's consideration.
- ICANN org to prepare materials for Board consideration.
Published on 26 November 2018