Historical Resolution Tracking Feature » 2009-08-27 - Transfer to Restricted Reserve Investment Fund
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2009-08-27 - Transfer to Restricted Reserve Investment Fund
Board approved the transfer of $11 million from working capital to the Board restricted Reserve Fund.
- Transfer funds
- Responsible entity: ICANN CFO
- Due date: None specified
- Completion date: September 2009
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
- No additional funding provided.