[Ccwg-auctionproceeds] Notes & action items from today's CCWG-AP meeting

Erika Mann erika at erikamann.com
Thu Aug 10 21:11:36 UTC 2017 

Dear All - 
I agree with Alan's description about what Xavier said. 
Let's continue the discussion to have a clearer understanding between ourselves about what we want in relation to the reserve fund and then let's have a debate at our next call.
Erika 

Sent from my iPhone

> On Aug 10, 2017, at 10:40 PM, Alan Greenberg <alan.greenberg at mcgill.ca> wrote:
> 
> To be clear, I don't think anyone on the call suggested we build up the reserve to a 12 or 24 month level of current budget. Xavier said that 1 year was a typical norm for non-profits, but in my opinion, there is no need for that, as in the case of emergency, costs could be ramped down quickly. 
> 
> I vaguely recall that the level that we were targeting (before the drain from the CCWG-Acct expenses) was something like $80m. So even if we contributed enough to get back to that level, it would be perhaps $40m. 
> 
> But the issue in my mind is not how much, but if.
> 
> Alan
> 
> At 10/08/2017 03:28 PM, Dietmar Stefitz wrote:
> 
>> Hi Erika and all,
>> 
>> I have been very astonished to hear the proposal to use the Auction Money in filling up the reserve account of ICANN.
>> Filling up for 12 month reserve or 24 month reserve, if we have to take 24 month, there will not be much left to disburse to other projects.
>> 
>> I thought that the call from Xavier has been to explain specially the Investment of the fund at this moment, for which I can only congratulate.
>> A 1% return on a super save investment is not bad, and it should be made like this in the future.
>> 
>> I would absolutely be against a filling up of the reserve fund from the auction proceeds, at least as a decision from this group.
>> Or did I misunderstand something?
>> 
>> Dietmar Stefitz
>> 
>> 
>> 
>> 
>> 
>> 
>> Thursday, August 10, 2017, 8:05:56 PM, you wrote:
>> 
>> MK> Hi Kavouss,
>> 
>> MK> Am I missing something - or are you suggesting that the CCWG should
>> MK> only determine whether or not money be fed into ICANN's reserve
>> MK> account, without also indicating what proportion should be used to
>> MK> that effect?
>> 
>> MK> If so - I don't see how the CCWG could consider anything beyond that
>> MK> simple yes/no question, as we'd have no indication how much money we
>> MK> would have leftover to work with, once the reserve is replenished.
>> MK> Decisions about allocation priorities can't really be made unless we
>> MK> also look at how the pie should be portioned out, right?
>> 
>> MK> Michael Karanicolas
>> 
>> MK> On Thu, Aug 10, 2017 at 2:50 PM, Kavouss Arasteh
>> MK> < kavouss.arasteh at gmail.com> wrote:
>> 
>> 
>> >> Dear Erika, Dear All,
>> 
>> >> Today during the last 15 mints of the call I tried to draw your attention to
>> >> allow me to intervene on the views expressed by Alan reading the Reserve
>> >> account.
>> 
>> >> If I have well understood his statement he wanted that CCWG discuss the
>> >> level of ICANN reserve account which was announced by Xavier to be
>> >> equivalent to one year budget as objective. As Xavier mentioned this level
>> >> has not been reached.
>> 
>> >> Alan’s view that CCWG discuss the level of ICANN reserve account is outside
>> >> the mandate of CCWG. We may just decide whether or not that account be fed
>> >> by using Auction money but decision on the appropriate level of the reserve
>> >> account is totally outside or mandate as it is a decision to be made by the
>> >> Board and not by this group
>> 
>> >> Regards
>> 
>> >> Kavouss
>> 
>> 
>> >> On Thu, Aug 10, 2017 at 5:56 PM, Joke Braeken <joke.braeken at icann.org >
>> >> wrote:
>> 
>> >>> Dear All,
>> 
>> 
>> 
>> >>> Please find below the notes and action items from today’s CCWG-AP meeting.
>> 
>> 
>> 
>> >>> Best regards,
>> 
>> 
>> 
>> >>> Joke Braeken
>> 
>> 
>> 
>> >>> Notes CCWG – AP Meeting 10 August 2017:
>> 
>> 
>> 
>> >>> These high-level notes are designed to help the CCWG navigate through the
>> >>> content of the call and are not meant as a substitute for the transcript
>> >>> and/or recording. The MP3, transcript, and chat are provided separately and
>> >>> are posted on the wiki at: https://community.icann.org/x/DLHDAw.
>> 
>> 
>> 
>> >>> Roll Call
>> 
>> 
>> 
>> >>> Please state your name for transcription purposes and keep microphones on
>> >>> mute when not speaking.
>> >>> Attendance will be taken from the AdobeConnect room.
>> 
>> 
>> 
>> >>> Welcome – DOI
>> 
>> 
>> 
>> >>> Overview from Xavier Calvez on investment management
>> 
>> 
>> 
>> >>> The intention of this presentation is
>> 
>> >>> to allow the group to think on the issue of investment,
>> >>> to understand ICANN's practice, and to answer any questions that might be
>> >>> raised.
>> 
>> >>> It helps to inform the discussion on the ROI of the fund; It includes an
>> >>> overview of how the auction proceeds are currently managed, which might lead
>> >>> to how they might be managed in the future.
>> 
>> 
>> 
>> >>> Important to note:
>> 
>> >>> only conservative investment policies are being used
>> >>> the investment strategy will be designed in support of the objectives
>> 
>> 
>> 
>> >>> An overview of some illustrative investment scenarios was provided,
>> >>> followed by Q&A.
>> 
>> 
>> 
>> >>> Parameters that need to be considered:
>> 
>> >>> amount of money
>> >>> horizon
>> >>> level of risk (which is not correlated to the horizon)
>> 
>> 
>> 
>> >>> Financial information is regularly provided during the quarterly
>> >>> stakeholder calls.
>> 
>> >>> (amount from latest update - Q3 data of FY17.
>> >>> https://www.icann.org/quarterlyreports)
>> 
>> >>> Reserve Fund: 64 million
>> >>> New gTLD unspent application fees: 128 million
>> >>> Auction proceeds: 233 million
>> >>> Annual budget of ICANN. FY18 budget expenses 142 million USD.
>> 
>> 
>> 
>> >>> Regarding replenishing the reserve fund: appropriate procedures need to be
>> >>> taken, appropriate approvals and decisions need to be in place for it to be
>> >>> legal.
>> 
>> >>> This is however a moral question as well. The charter does include this
>> >>> question: “To what extent (and, if so, how) could ICANN, the Organization or
>> >>> a constituent part thereof, be the beneficiary of some of the auction funds”
>> 
>> >>> The group needs to discuss this at a later stage.
>> 
>> 
>> 
>> >>> Next meeting
>> 
>> 
>> 
>> >>> next CCWG-AP meeting is scheduled for Thursday 24 August at 14.00 UTC
>> 
>> 
>> 
>> >>> = = = =
>> 
>> 
>> 
>> >>> Action item #1:
>> 
>> >>> CCWG to review the slides presented by Xavier (published on
>> >>> https://community.icann.org/display/CWGONGAP/2017-08-10+CCWG+New+gTLD+Auction+Proceeds+call )
>> >>> and to share any further questions for Xavier on the group’s mailing list.
>> 
>> 
>> 
>> >>> Action item #2:
>> 
>> >>> Per the discussion during the CCWG-AP meeting on 27 July 2017, the
>> >>> attached mind map was developed, which aims to regroup the objectives based
>> >>> on the survey results as well as the subsequent discussions.  The CCWG is
>> >>> encouraged to continue to provide feedback on the proposed regrouping of
>> >>> objectives/priorities, as well as the clustering of examples ahead of the
>> >>> next meeting, scheduled for 24 August at 14 UTC.
>> 
>> 
>> 
>> >>> Action item #3:
>> 
>> >>> CCWG to review responses to charter question #4 and to continue the
>> >>> discussion on the mailing list.
>> 
>> >>> (see https://www.surveymonkey.com/results/SM-6GNDQHJ6/ )
>> 
>> 
>> 
>> >>> = = = =
>> 
>> 
>> 
>> 
>> 
>> >>> Joke Braeken
>> 
>> >>> ccNSO Policy Advisor
>> 
>> >>> joke.braeken at icann.org
>> 
>> 
>> 
>> >>> Follow @ccNSO on Twitter: https://twitter.com/ccNSO
>> 
>> >>> Follow the ccNSO on Facebook: https://www.facebook.com/ccnso/
>> 
>> >>> http://ccnso.icann.org
>> 
>> 
>> 
>> 
>> >>> _______________________________________________
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>> >>> Ccwg-auctionproceeds at icann.org
>> >>> https://mm.icann.org/mailman/listinfo/ccwg-auctionproceeds
>> 
>> 
>> 
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>> 
>> 
>> 
>> -- 
>> Saludos,
>> Dietmar  
>>                    
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