Summary

Board accepts the revised budget for the fiscal year 2006-2007 and proposed additions, and recommends that the Board adopt the revised budget for the fiscal year 2006-2007.

Text

Whereas, ICANN's currently approved budget and current fiscal year will end on 30 June 2007.

Whereas, ICANN's Board approved in a Special Meeting held on 7 December 2006 in Sao Paulo pursuant to ICANN"S Bylaws Article III, Section 5.3 , a substantial adjustment to the compensation program for ICANN staff, and the Board was assured by management that this adjustment could be implemented in an overall budget neutral fashion, and ICANN was to continue to operate at the budget levels and maintain the fee structure for the fiscal year ending on 30 June 2006 levels previously approved, and a formal budget reforecast effort was to be undertaken by staff and reported back to the Board for approval of the revised expense categories formulated from the implementation of the compensation program.

Whereas, the staff has undertaken the budget reforecast effort, verified its ability to implement the revised compensation program within the overall original budget parameters and prepared a budget with revised expense categories.

Resolved (07.12), the Board Finance Committee agrees to accept the revised budget for the fiscal year ending June 30 2007 reflecting new expense category totals equal to the overall approved budget amount and recommends that the ICANN Board adopt the revised budget for the fiscal year 2006-2007 as presented:

Further, whereas, the staff has undertaken the budget reforecast effort and in the process thereof, identified projects recommended by staff totaling $188,000 which are not part of the approved budget and are critical to the mission of ICANN at this time.

Resolved (07.13), the Board Finance Committee agrees to accept the proposed additions to the budget for the fiscal year ending June 30 2007 and recommends that the ICANN Board adopt the revisions to the budget for the fiscal year 2006-2007 as presented.

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