- Category: Administration and Budget
- Topic: Transfer to Restricted Reserve Investment Fund
- Board meeting date: 27 August 2009
- Resolution number: 2009.08.27.03
- URL for Board minutes/resolution: http://www.icann.org/en/minutes/minutes-27aug09-en.htm
- Status: Completed
Summary
Board approved the transfer of $11 million from working capital to the Board restricted Reserve Fund.
Text
Whereas, the ICANN Board adopted the Investment Policy in November 2007;
Whereas the Board endorsed the ICANN Investment Policy and adopted minor amendments to the Investment Policy on 30 July 2009.
Whereas, at its 14 July 2009 meeting the Board Finance Committee reviewed the plans to transfer $11 million from working capital to the Board restricted Reserve Fund in accordance with the policy
requirements for the working capital level to be equivalent to three months of operating expenses
Resolved (2009.08.27.03), that the Board approves the recommendation of the BFC that the CFO be directed to transfer $11 million from working capital to the Board restricted Reserve Fund
Implementation Actions
- Transfer funds
- Responsible entity: ICANN CFO
- Due date: None specified
- Completion date: September 2009
Other Related Resolutions
- TBD
Additional Information
- No additional funding provided.
Explanatory text does not modify or override Resolutions. See Board Resolutions Page for more information.
