ICANN Finances Update Sees Improved Transparency; 2010 Budget Exceeded by 5.5%; Reserves of $46m
Posted in: Domain Names at 02/12/2010 22:21
ICANN have published their expenses for the 2010 financial year, which are expected to exceed budget by around $3m, or about 5.45%, to close to $58m. The increase in budget is due to a number of issues outlined in two postings on the ICANN blog, including additional security for the ICANN Nairobi meeting, travel and other support activities for the beginning of the Affirmation reviews, additional new gTLD studies and executive staff costs, remote participation at the Nairobi meeting and translation and interpretation services.
ICANN notes there financial position is strong with a reserve fund of over $46m, which "reflects investment gains earned while investing in a moderately low risk portfolio."
The postings by Kevin Wilson, Chief Financial Officer, also note ICANN has been improving its accountability and transparency with the FY11 Operating Plan and Budget that was recently adopted by the Board being "the most detailed ever for ICANN."
For more information, see the postings by Kevin Wilson on the ICANN Blog at: