ICANN Resolutions » 2003-06-26 - Approval of 2003-2004 Budget
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Board approves the Fiscal year 2003-2004 Proposed Budget.
Whereas, ICANN's bylaws require that the President prepare and submit to the Board a proposed annual budget of the Corporation for the next fiscal year;
Whereas, the President, with the endorsement of the Finance Committee and with the assistance of the Budget Advisory Group, has followed an open and consultative process in developing the budget, with a Preliminary Budget discussed at ICANN's March 2003 meeting in Rio de Janeiro, Brazil; with subsequent discussion and other comments on that Preliminary Budget; with the President's submission of a Proposed 2003-2004 Budget on 17 May 2003; with minor modifications made to that Proposed Budget and posted on 24 June 2003; and with presentation of the Proposed 2003-2004 Budget as modified at the ICANN Public Forum on 25 June 2003 ("Proposed Budget");
Whereas, the Board has reviewed the Proposed Budget and has found that its adoption is in the best interests of the Corporation;
Resolved [03.97] that the Proposed Budget is hereby adopted as the annual budget of the Corporation for the fiscal year beginning 1 July 2003 (as adopted, the "Budget"); and
Further resolved [03.98] 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 during the upcoming 2003-2004 fiscal year.