ICANN Resolutions » 2000-06-06 - 2000-2001 Budget
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Board approves Fiscal Year 2000-2001 Proposed Budget, and directs President to present to the Board a report analyzing the fiscal year-end financial results of the corporation as of June 30, 2000 and to make recommendations for any budgetary revisions.
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 and other members of the staff have followed an open and consultative process in developing the budget, including a budget presentation and discussion in the public meeting in Cairo in March, on several occasions with the registry/registrar budget group composed of representatives of the domain name and address registries and the gTLD name registrars, and through posting of the proposed budget for public comment.
Whereas, the President has submitted to the Board a proposed budget prepared through that consultative process for FY00-01, commencing July 1, 2000, which proposed budget is ordered attached to the minutes of this meeting (the "Proposed Budget").
Whereas, the Proposed FY00-01 Budget provides for total revenue of USD $5.024 million, total expenditures of $4.219 million and total capital equipment purchases and contribution to working capital and operating reserve of $805,000.
Whereas, the Board has reviewed the Proposed Budget and has found that its adoption is in the best interest of the Corporation.
RESOLVED [00.40] that the Proposed Budget is hereby adopted as the annual budget of the Corporation for the fiscal year beginning July 1, 2000 (as adopted, the "Budget").
FURTHER RESOLVED [00.41] 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 [00.42] that the President is directed to present to the Board, at its Yokohama meeting in July 2000, a report analyzing the fiscal year-end financial results of the corporation as of June 30, 2000, including any significant variances in anticipated income and expense, and to make recommendations for any revisions to the FY00-01 Budget that may be necessary in light of the year-end results and other matters affecting the budget.