ICANN Resolutions » 1999-05-27 - FY 1999-2000 ICANN BUDGET
Important note: The Board Resolutions are as reported in the Board Meeting Transcripts, Minutes & Resolutions portion of ICANN's website. Only the words contained in the Resolutions themselves represent the official acts of the Board. The explanatory text provided through this database (including the summary, implementation actions, identification of related resolutions, and additional information) is an interpretation or an explanation that has no official authority and does not represent the purpose behind the Board actions, nor does any explanations or interpretations modify or override the Resolutions themselves. Resolutions can only be modified through further act of the ICANN Board.
Board approves Fiscal Year 1999-2000 Budget.
WHEREAS, the bylaws of the Corporation require that the President shall prepare and submit to the Board a proposed annual budget of the Corporation for the next fiscal year.
WHEREAS, the President has submitted to the Board a proposed budget, which proposed budget is ordered attached to the minutes of this meeting (the "Proposed Budget").
WHEREAS, the Proposed Budget provides for total revenue of $5.9M, total expenditures of $4.2M and total capital equipment purchases, contribution to operating reserve and provision for prior year loss of $1.7M.
WHEREAS, the Board has reviewed the Proposed Budget and has found that the adoption of the proposed budget is in the best interest of the Corporation.
RESOLVED (Resolution 99.55), that the Proposed Budget is hereby adopted as the annual budget of the Corporation for the fiscal year beginning July 1, 1999 (as adopted, the "Budget").
FURTHER RESOLVED (Resolution 99.56), that the President is authorized and directed to implement and carry out the Budget and is directed to inform the Board of material variances from the Budget.
FURTHER RESOLVED (Resolution 99.57), that the President is directed to cause the Budget to be published on the Corporation's Web Site.