Special Meeting of the Board Preliminary Report
(Posted 18 December 2000)
At its meeting on 13 December 2000, the ICANN Board of Directors adopted the following resolutions:
RESOLVED [00.96], that there be, and there hereby is, effective immediately, designated a Committee of the Board to be named the "Finance Committee," responsible for consulting with the President on the annual budget process of the corporation; for reviewing and making recommendations on the annual budget submitted by the President; and for developing and recommending long range financial objectives for the corporation. The Finance Committee's initial charter shall be:
Charter for the Finance Committee
The Finance Committee of the ICANN Board is responsible for consulting with the President on the annual budget process of the corporation; for reviewing and making recommendations on the annual budget submitted by the President; and for developing and recommending long range financial objectives for the corporation.
II. Membership of Finance Committee
The Finance Committee shall be comprised of three or more directors as determined and appointed annually by the Board, each of whom shall be free from any relationship that, in the opinion of the Board, would interfere with the exercise of his or her independent judgment as a member of the Committee.
III. Scope of Finance Committee Work
In accomplishing its assigned responsibilities, the Finance Committee will undertake the following listed duties and such other matters within its responsibilities as may warrant its attention.
(1) Assist the President and Chief Executive Officer in carrying out his or her responsibilities under Article XI, section 4 of the Bylaws with respect to preparation and presentation of the annual budget to the Board, including, where pertinent, the setting of fees and charges as provided in Article XI, section 5 of the Bylaws.
(2) Facilitate the annual budget process, including recommendations to the President on appointment of the consultative budget group of Registries and Registrars.
(3) In consultation with the President, establish such budget tracking and reporting standards as are appropriate to the needs of the committee and the Board.
(4) Review the annual budget and make specific recommendations to the Board on its adoption, including where desirable, comments on expense levels, revenue structures, fees and charges, adequacy of proposed funding levels of programs, and adequacy of provision for reserves.
(5) Undertake a review, at least annually, of the long range financial objectives of the corporation and their ability to sustain the corporation and the accomplishment of its stated mission and programs. Report to the Board annually on such objectives, including recommendations for revision as appropriate.
FURTHER RESOLVED [00.97], that Linda Wilson be, and hereby is, appointed chair of the Finance Committee, and that Jonathan Cohen, Helmut Schink, and Ivan Moura Campos are appointed members of the Finance Committee.
The Board discussed finalist candidates for ICANN's new CEO and approved going forward with negotiations with one of the candidates.