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[nc-budget] ICANN Management Handling of DNSO Funds
To the NC Budget Committee:
At its meeting on 13 March 2001, the Board formally approved the
procedures ICANN Management has been following for some time concerning
the safekeeping of DNSO funds. The official text of the Board's
resolution is as follows:
"Handling of DNSO Funds
Whereas, the Audit Committee has reviewed and reported to the Board
on the practices by which ICANN receives, handles, and disburses
funds contributed to the support of the Domain Name Supporting
Organization;
It is therefore
RESOLVED [01.36] that the President is authorized, until further
action by the Board, to maintain a separate bank account for
holding funds contributed to the support of the Domain Name
Supporting Organization, to place in that account funds
contributed for that purpose, and to make disbursements from that
account upon authorization of the Names Council or its designee."
This is not intended to change the current practice or to preclude any
of the alternatives for handling of DNSO funds that the Budget Committee
is considering. Instead, it is intended to make clear that ICANN
management is authorized to hold funds raised by the DNSO (from dues or
from voluntary contributions) and to pay them out upon Names Council
authorization.
Best regards,
Louis Touton
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