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[nc-budget] ICANN Procedures for Handling DNSO Funds
To the DNSO Budget Committee:
This document describes the arrangements under which ICANN will handle
funds received from contributors designating those funds as intended to
support the DNSO and its activities. This document is based on ICANN
Board resolution 01.36
<http://www.icann.org/minutes/prelim-report-13mar01.htm#01.36> and DNSO
Decision D2 of 9 May 2001
<http://www.dnso.org/dnso/notes/20010509.NCtelecon-minutes.html>.
1. Funds received by ICANN that are contributed for the support of the
DNSO and its activities will be placed in a bank account or accounts
separate from the accounts holding other ICANN funds.
2. ICANN will not charge administrative fees against the account(s) for
its internal costs of handling the funds. ICANN will use reasonable
efforts to arrange for bank accounts that provide interest on deposited
funds. Bank charges and out-of-pocket costs in maintaining the
account(s) will be deducted from the account(s).
3. ICANN management will disburse funds from the account(s) according
to the instructions of the Names Council, or according to the
instructions of DNSO committees or officials designated by Names Council
resolution, unless ICANN management determines that following a
disbursement instruction would be illegal or jeopardize ICANN's
tax-exempt status. In the event of that ICANN management makes either
of these determinations, it will so advise the Names Council.
4. ICANN management will consult with the Names Council or its designee
regarding questions that may arise with respect to the handling of the
funds, including questions about the sufficiency of instructions that it
receives. ICANN management will provide the Names Council or its
designee with periodic reports regarding the activity in accounts in
which the DNSO funds are held.
5. These arrangements will be changed only with agreement of the Names
Council (or its designee) or with 60 days notice to the Names Council.
I hope the above arrangements are satisfactory. Please feel free to
discuss any additional questions you may have with me or Stuart.
Best regards,
Louis Touton
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