<html><head><meta http-equiv="content-type" content="text/html; charset=utf-8"></head><body dir="auto"><div>Jonathan</div><div id="AppleMailSignature">Thank you for your thought.</div><div id="AppleMailSignature">I fully agree with the way you have describe the process provided that CCWG is not involved whether or not ICANN should or should not have reserve account NOR we interfere to argue or determine or fixe any level /ceiling for such reserve account . In other words we just could discussed as you have summarised at the end of your message.</div><div id="AppleMailSignature">Regards</div><div id="AppleMailSignature">Kavouss <br><br>Sent from my iPhone</div><div><br>On 11 Aug 2017, at 16:18, Stephanie Perrin <<a href="mailto:stephanie.perrin@mail.utoronto.ca">stephanie.perrin@mail.utoronto.ca</a>> wrote:<br><br></div><blockquote type="cite"><div>
<meta http-equiv="Content-Type" content="text/html; charset=utf-8">
<p><font size="+1"><font face="Lucida Grande">A very useful summary,
thank you Jonathan. Once again, apologies for getting us
slightly off topic, but I do think this question should be
resolved.<br>
</font></font></p>
<p><font size="+1"><font face="Lucida Grande">Stephanie</font></font><br>
</p>
<br>
<div class="moz-cite-prefix">On 2017-08-11 05:10, Jonathan Robinson
wrote:<br>
</div>
<blockquote type="cite" cite="mid:005801d31281$b7d299f0$2777cdd0$@afilias.info">
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<div class="WordSection1">
<p class="MsoNormal"><span style="font-size:11.0pt;font-family:"Calibri",sans-serif;color:#1F497D;mso-fareast-language:EN-US">All,<o:p></o:p></span></p>
<p class="MsoNormal"><span style="font-size:11.0pt;font-family:"Calibri",sans-serif;color:#1F497D;mso-fareast-language:EN-US"><o:p> </o:p></span></p>
<p class="MsoNormal"><span style="font-size:11.0pt;font-family:"Calibri",sans-serif;color:#1F497D;mso-fareast-language:EN-US">A
couple of thoughts on this topic.<o:p></o:p></span></p>
<p class="MsoNormal"><span style="font-size:11.0pt;font-family:"Calibri",sans-serif;color:#1F497D;mso-fareast-language:EN-US"><o:p> </o:p></span></p>
<p class="MsoNormal"><span style="font-size:11.0pt;font-family:"Calibri",sans-serif;color:#1F497D;mso-fareast-language:EN-US">On
the subject of whether or not ICANN should have a 12 month
operating expense reserve in place. <o:p></o:p></span></p>
<p class="MsoNormal"><span style="font-size:11.0pt;font-family:"Calibri",sans-serif;color:#1F497D;mso-fareast-language:EN-US">Agreed
that it seems to be common practice in the not for profit
sector. <o:p></o:p></span></p>
<p class="MsoNormal"><span style="font-size:11.0pt;font-family:"Calibri",sans-serif;color:#1F497D;mso-fareast-language:EN-US">Whether
or not it should be the case for ICANN is an interesting
question, but agreed, not one for this CWG.<o:p></o:p></span></p>
<p class="MsoNormal"><span style="font-size:11.0pt;font-family:"Calibri",sans-serif;color:#1F497D;mso-fareast-language:EN-US"><o:p> </o:p></span></p>
<p class="MsoNormal"><span style="font-size:11.0pt;font-family:"Calibri",sans-serif;color:#1F497D;mso-fareast-language:EN-US">In
any event, Xavier has clarified that the current policy is
that the level of operating reserve should be 12 months.<o:p></o:p></span></p>
<p class="MsoNormal"><span style="font-size:11.0pt;font-family:"Calibri",sans-serif;color:#1F497D;mso-fareast-language:EN-US">My
understanding of the question for this group is not whether
or not we would sanction the (auction fund) money being used
to top up the reserves.<o:p></o:p></span></p>
<p class="MsoNormal"><span style="font-size:11.0pt;font-family:"Calibri",sans-serif;color:#1F497D;mso-fareast-language:EN-US">But
rather, whether or not we would like to see rules in place
that sanction ICANN (the organisation) applying for auction
funds.<o:p></o:p></span></p>
<p class="MsoNormal"><span style="font-size:11.0pt;font-family:"Calibri",sans-serif;color:#1F497D;mso-fareast-language:EN-US"><o:p> </o:p></span></p>
<p class="MsoNormal"><span style="font-size:11.0pt;font-family:"Calibri",sans-serif;color:#1F497D;mso-fareast-language:EN-US">In
evaluating that question of ICANN the organisation as a
prospective applicant, a use or test case for that
consideration is ICANN applying (under the same rules as
anyone else) for auction funds to top up the ICANN reserve
funds.<o:p></o:p></span></p>
<p class="MsoNormal"><span style="font-size:11.0pt;font-family:"Calibri",sans-serif;color:#1F497D;mso-fareast-language:EN-US"><o:p> </o:p></span></p>
<p class="MsoNormal"><span style="font-size:11.0pt;font-family:"Calibri",sans-serif;color:#1F497D;mso-fareast-language:EN-US">My
personal view is that ICANN should be demonstrating a
commitment to fulfilling its current policy (to have in
place a 12 month reserve) by budgeting an operating surplus
to build that reserve.<o:p></o:p></span></p>
<p class="MsoNormal"><span style="font-size:11.0pt;font-family:"Calibri",sans-serif;color:#1F497D;mso-fareast-language:EN-US">In
addition (independently of this CWG), ICANN should review
its current policy on reserve funds. <o:p></o:p></span></p>
<p class="MsoNormal"><span style="font-size:11.0pt;font-family:"Calibri",sans-serif;color:#1F497D;mso-fareast-language:EN-US">If
these two criteria were met, it would make me personaly much
more sympathetic to potentially topping up reserve funds (to
some extent) with auction funds.<o:p></o:p></span></p>
<p class="MsoNormal"><span style="font-size:11.0pt;font-family:"Calibri",sans-serif;color:#1F497D;mso-fareast-language:EN-US"><o:p> </o:p></span></p>
<p class="MsoNormal"><span style="font-size:11.0pt;font-family:"Calibri",sans-serif;color:#1F497D;mso-fareast-language:EN-US">At
the risk of being repetitive, it seems to me that the
question for this CWG remains:<o:p></o:p></span></p>
<p class="MsoListParagraph" style="text-indent:-.25in;mso-list:l0 level1 lfo2"><!--[if !supportLists]--><span style="font-size:11.0pt;font-family:"Calibri",sans-serif;color:#1F497D;mso-fareast-language:EN-US"><span style="mso-list:Ignore">-<span style="font:7.0pt
"Times New Roman""> </span></span></span><!--[endif]--><span style="font-size:11.0pt;font-family:"Calibri",sans-serif;color:#1F497D;mso-fareast-language:EN-US">Whether
or not ICANN the Organisation should be permitted to apply
for funds?<br>
and<o:p></o:p></span></p>
<p class="MsoListParagraph" style="text-indent:-.25in;mso-list:l0 level1 lfo2"><!--[if !supportLists]--><span style="font-size:11.0pt;font-family:"Calibri",sans-serif;color:#1F497D;mso-fareast-language:EN-US"><span style="mso-list:Ignore">-<span style="font:7.0pt
"Times New Roman""> </span></span></span><!--[endif]--><span style="font-size:11.0pt;font-family:"Calibri",sans-serif;color:#1F497D;mso-fareast-language:EN-US">If
so, what constraints should be place on this (use of funds,
quantum etc)?<o:p></o:p></span></p>
<p class="MsoNormal"><span style="font-size:11.0pt;font-family:"Calibri",sans-serif;color:#1F497D;mso-fareast-language:EN-US"><o:p> </o:p></span></p>
<p class="MsoNormal"><span style="font-size:11.0pt;font-family:"Calibri",sans-serif;color:#1F497D;mso-fareast-language:EN-US">Thanks,<o:p></o:p></span></p>
<p class="MsoNormal"><span style="font-size:11.0pt;font-family:"Calibri",sans-serif;color:#1F497D;mso-fareast-language:EN-US"><o:p> </o:p></span></p>
<p class="MsoNormal"><span style="font-size:11.0pt;font-family:"Calibri",sans-serif;color:#1F497D;mso-fareast-language:EN-US">Jonathan<o:p></o:p></span></p>
<p class="MsoNormal"><span style="font-size:11.0pt;font-family:"Calibri",sans-serif;color:#1F497D;mso-fareast-language:EN-US"><o:p> </o:p></span></p>
<p class="MsoNormal"><b><span style="font-size:11.0pt;font-family:"Calibri",sans-serif" lang="EN-US">From:</span></b><span style="font-size:11.0pt;font-family:"Calibri",sans-serif" lang="EN-US"> Seun Ojedeji [<a class="moz-txt-link-freetext" href="mailto:seun.ojedeji@gmail.com">mailto:seun.ojedeji@gmail.com</a>] <br>
<b>Sent:</b> Friday, August 11, 2017 7:18 AM<br>
<b>To:</b> Xavier J. Calvez <a class="moz-txt-link-rfc2396E" href="mailto:xavier.calvez@icann.org"><xavier.calvez@icann.org></a><br>
<b>Cc:</b> <a class="moz-txt-link-abbreviated" href="mailto:ccwg-auctionproceeds@icann.org">ccwg-auctionproceeds@icann.org</a><br>
<b>Subject:</b> Re: [Ccwg-auctionproceeds] Notes &
action items from today's CCWG-AP meeting<o:p></o:p></span></p>
<p class="MsoNormal"><o:p> </o:p></p>
<div>
<p class="MsoNormal">Hello, <o:p></o:p></p>
<div>
<p class="MsoNormal"><o:p> </o:p></p>
</div>
<div>
<p class="MsoNormal">Xavier is right about reserve that
covers operational expenses for minimum is say 12 month
being normal practice. Some even do it for more; some RIRs
have way above 1 year already while others are working
towards same. However ofcourse none can match the fat
figures of ICANN budget. ;-)<o:p></o:p></p>
</div>
<div>
<p class="MsoNormal"><o:p> </o:p></p>
</div>
<div>
<p class="MsoNormal">However I don't think auction proceeds
in this context can be referred to as surplus that can get
ploughed back to achieve reserve target set by ICANN
management NOR do I think it is a target/goal that this
group should try to achieve.<o:p></o:p></p>
</div>
<div>
<p class="MsoNormal"><o:p> </o:p></p>
</div>
<div>
<p class="MsoNormal">I for will suggest that we should
consider mechanisms that allow some community projects
that ICANN normally fund in their budget to be eligible,
which if approved (based on the process) may then result
to more surpluses to ICANN and they(Board) can decide to
put that to reserve.<o:p></o:p></p>
</div>
<div>
<p class="MsoNormal"><o:p> </o:p></p>
</div>
<div>
<p class="MsoNormal">Regards<o:p></o:p></p>
<div>
<p class="MsoNormal"><o:p> </o:p></p>
<div>
<p class="MsoNormal">Sent from my mobile<br>
Kindly excuse brevity and typos<o:p></o:p></p>
</div>
</div>
</div>
</div>
<div>
<p class="MsoNormal"><o:p> </o:p></p>
<div>
<p class="MsoNormal">On Aug 10, 2017 10:26 PM, "Xavier J.
Calvez" <<a href="mailto:xavier.calvez@icann.org" moz-do-not-send="true">xavier.calvez@icann.org</a>>
wrote:<o:p></o:p></p>
<blockquote style="border:none;border-left:solid #CCCCCC
1.0pt;padding:0in 0in 0in
6.0pt;margin-left:4.8pt;margin-right:0in">
<div>
<div>
<p class="MsoNormal" style="mso-margin-top-alt:auto;mso-margin-bottom-alt:auto"><span lang="EN-US">All,<o:p></o:p></span></p>
<p class="MsoNormal" style="mso-margin-top-alt:auto;mso-margin-bottom-alt:auto"><span lang="EN-US">I apologize if I did not make the
following clear: ICANN’s current policy is to have
in place a reserve fund equivalent to at minimum
12 months of operating expenses. Refer to ICANN’s
Investment Policy, see at <a href="https://www.icann.org/resources/pages/investment-policy-2014-07-30-en" target="_blank" moz-do-not-send="true">https://www.icann.org/resources/pages/investment-policy-2014-07-30-en</a>,
see the paragraph “Size of Funds”, copied below).<o:p></o:p></span></p>
<p class="MsoNormal" style="mso-margin-top-alt:auto;mso-margin-bottom-alt:auto"><span lang="EN-US"> <o:p></o:p></span></p>
<p class="MsoNormal" style="mso-margin-top-alt:auto;mso-margin-bottom-alt:auto"><span lang="EN-US">“The Reserve Fund shall contain any
amounts not contained in the Operating Fund. Any
surplus funds will be used to build up the Reserve
Fund to a balance sufficient to cover an emergency
requirement. The Reserve Fund is expected to reach
and maintain a level of funds to maintain a
minimum of 12 months of expected expenditures.“<o:p></o:p></span></p>
<p class="MsoNormal" style="mso-margin-top-alt:auto;mso-margin-bottom-alt:auto"><span lang="EN-US"> <o:p></o:p></span></p>
<p class="MsoNormal" style="mso-margin-top-alt:auto;mso-margin-bottom-alt:auto"><span lang="EN-US">I indicated that this level of a
reserve fund is the commonly used in non-profit
organizations.<o:p></o:p></span></p>
<p class="MsoNormal" style="mso-margin-top-alt:auto;mso-margin-bottom-alt:auto"><span lang="EN-US"> <o:p></o:p></span></p>
<div>
<p class="MsoNormal" style="mso-margin-top-alt:auto;mso-margin-bottom-alt:auto"><span lang="EN-US">Thank you.<o:p></o:p></span></p>
<p class="MsoNormal" style="mso-margin-top-alt:auto;mso-margin-bottom-alt:auto"><span lang="EN-US"> <o:p></o:p></span></p>
<p class="MsoNormal" style="mso-margin-top-alt:auto;mso-margin-bottom-alt:auto"><span lang="EN-US">Best,<o:p></o:p></span></p>
<p class="MsoNormal" style="mso-margin-top-alt:auto;mso-margin-bottom-alt:auto"><span lang="EN-US"> <o:p></o:p></span></p>
<p class="MsoNormal" style="mso-margin-top-alt:auto;mso-margin-bottom-alt:auto"><span lang="EN-US">Xavier<o:p></o:p></span></p>
<p class="MsoNormal" style="mso-margin-top-alt:auto;mso-margin-bottom-alt:auto"><span lang="EN-US"> <o:p></o:p></span></p>
<p class="MsoNormal" style="mso-margin-top-alt:auto;mso-margin-bottom-alt:auto"><span lang="EN-US">Xavier Calvez<o:p></o:p></span></p>
<p class="MsoNormal" style="mso-margin-top-alt:auto;mso-margin-bottom-alt:auto"><span lang="EN-US">ICANN – SVP & CFO<o:p></o:p></span></p>
<p class="MsoNormal" style="mso-margin-top-alt:auto;mso-margin-bottom-alt:auto"><span lang="EN-US">12025 Waterfront Drive, Suite 300<o:p></o:p></span></p>
<p class="MsoNormal" style="mso-margin-top-alt:auto;mso-margin-bottom-alt:auto"><span lang="EN-US">Los Angeles, CA 90094<o:p></o:p></span></p>
<p class="MsoNormal" style="mso-margin-top-alt:auto;mso-margin-bottom-alt:auto"><span lang="EN-US">Phone: 310-301-5838<o:p></o:p></span></p>
<p class="MsoNormal" style="mso-margin-top-alt:auto;mso-margin-bottom-alt:auto"><span lang="EN-US">Mobile: 805-312-0052<o:p></o:p></span></p>
<p class="MsoNormal" style="mso-margin-top-alt:auto;mso-margin-bottom-alt:auto"><span lang="EN-US">Fax: 310-957-2348<o:p></o:p></span></p>
</div>
<p class="MsoNormal" style="mso-margin-top-alt:auto;mso-margin-bottom-alt:auto"><span lang="EN-US"> <o:p></o:p></span></p>
<p class="MsoNormal" style="mso-margin-top-alt:auto;mso-margin-bottom-alt:auto"><span lang="EN-US"> <o:p></o:p></span></p>
<div style="border:none;border-top:solid #B5C4DF
1.0pt;padding:3.0pt 0in 0in 0in">
<p class="MsoNormal" style="mso-margin-top-alt:auto;mso-margin-bottom-alt:auto"><b><span style="color:black" lang="EN-US">From: </span></b><span style="color:black" lang="EN-US"><<a href="mailto:ccwg-auctionproceeds-bounces@icann.org" target="_blank" moz-do-not-send="true">ccwg-auctionproceeds-bounces@icann.org</a>>
on behalf of Alan Greenberg <<a href="mailto:alan.greenberg@mcgill.ca" target="_blank" moz-do-not-send="true">alan.greenberg@mcgill.ca</a>><br>
<b>Date: </b>Thursday, August 10, 2017 at 1:41
PM<br>
<b>To: </b>Dietmar Stefitz <<a href="mailto:djs@bemarnet.es" target="_blank" moz-do-not-send="true">djs@bemarnet.es</a>>,
Michael Karanicolas <<a href="mailto:mkaranicolas@gmail.com" target="_blank" moz-do-not-send="true">mkaranicolas@gmail.com</a>>,
Kavouss Arasteh <<a href="mailto:kavouss.arasteh@gmail.com" target="_blank" moz-do-not-send="true">kavouss.arasteh@gmail.com</a>><br>
<b>Cc: </b>"<a href="mailto:ccwg-auctionproceeds@icann.org" target="_blank" moz-do-not-send="true">ccwg-auctionproceeds@icann.org</a>"
<<a href="mailto:ccwg-auctionproceeds@icann.org" target="_blank" moz-do-not-send="true">ccwg-auctionproceeds@icann.org</a>><br>
<b>Subject: </b>Re: [Ccwg-auctionproceeds]
Notes & action items from today's CCWG-AP
meeting</span><span lang="EN-US"><o:p></o:p></span></p>
</div>
<div>
<p class="MsoNormal" style="mso-margin-top-alt:auto;mso-margin-bottom-alt:auto"><span lang="EN-US"> <o:p></o:p></span></p>
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<p class="MsoNormal" style="mso-margin-top-alt:auto;margin-bottom:12.0pt"><span lang="EN-US">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. <br>
<br>
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. <br>
<br>
But the issue in my mind is not how much, but if.<br>
<br>
Alan<br>
<br>
At 10/08/2017 03:28 PM, Dietmar Stefitz wrote:<br>
<br>
<o:p></o:p></span></p>
<blockquote style="margin-top:5.0pt;margin-bottom:5.0pt">
<p class="MsoNormal" style="mso-margin-top-alt:auto;mso-margin-bottom-alt:auto"><span lang="EN-US">Hi Erika and all,<br>
<br>
I have been very astonished to hear the proposal
to use the Auction Money in filling up the
reserve account of ICANN.<br>
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.<br>
<br>
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.<br>
A 1% return on a super save investment is not
bad, and it should be made like this in the
future.<br>
<br>
I would absolutely be against a filling up of
the reserve fund from the auction proceeds, at
least as a decision from this group.<br>
Or did I misunderstand something?<br>
<br>
Dietmar Stefitz<br>
<br>
<br>
<br>
<br>
<br>
<br>
Thursday, August 10, 2017, 8:05:56 PM, you
wrote:<br>
<br>
<b>MK> Hi Kavouss,<br>
<br>
MK> Am I missing something - or are you
suggesting that the CCWG should<br>
MK> only determine whether or not money be
fed into ICANN's reserve<br>
MK> account, without also indicating what
proportion should be used to<br>
MK> that effect?<br>
<br>
MK> If so - I don't see how the CCWG could
consider anything beyond that<br>
MK> simple yes/no question, as we'd have no
indication how much money we<br>
MK> would have leftover to work with, once
the reserve is replenished.<br>
MK> Decisions about allocation priorities
can't really be made unless we<br>
MK> also look at how the pie should be
portioned out, right?<br>
<br>
MK> Michael Karanicolas<br>
<br>
MK> On Thu, Aug 10, 2017 at 2:50 PM,
Kavouss Arasteh<br>
MK> <</b><a href="mailto:kavouss.arasteh@gmail.com" target="_blank" moz-do-not-send="true">
kavouss.arasteh@gmail.com</a><b>> wrote:<br>
<br>
<br>
>> Dear Erika, Dear All,<br>
<br>
>> Today during the last 15 mints of the
call I tried to draw your attention to<br>
>> allow me to intervene on the views
expressed by Alan reading the Reserve<br>
>> account.<br>
<br>
>> If I have well understood his
statement he wanted that CCWG discuss the<br>
>> level of ICANN reserve account which
was announced by Xavier to be<br>
>> equivalent to one year budget as
objective. As Xavier mentioned this level<br>
>> has not been reached.<br>
<br>
>> Alan’s view that CCWG discuss the
level of ICANN reserve account is outside<br>
>> the mandate of CCWG. We may just
decide whether or not that account be fed<br>
>> by using Auction money but decision
on the appropriate level of the reserve<br>
>> account is totally outside or mandate
as it is a decision to be made by the<br>
>> Board and not by this group<br>
<br>
>> Regards<br>
<br>
>> Kavouss<br>
<br>
<br>
>> On Thu, Aug 10, 2017 at 5:56 PM, Joke
Braeken <</b><a href="mailto:joke.braeken@icann.org" target="_blank" moz-do-not-send="true">joke.braeken@icann.org</a>
<b>><br>
>> wrote:<br>
<br>
>>> Dear All,<br>
<br>
<br>
<br>
>>> Please find below the notes and
action items from today’s CCWG-AP meeting.</b></span><b><span style="font-family:PMingLiU" lang="EN-US"><br>
<br>
<br>
<br>
</span></b><b><span lang="EN-US">>>>
Best regards,</span></b><b><span style="font-family:PMingLiU" lang="EN-US"><br>
<br>
<br>
<br>
</span></b><b><span lang="EN-US">>>>
Joke Braeken</span></b><b><span style="font-family:PMingLiU" lang="EN-US"><br>
<br>
<br>
<br>
</span></b><b><span lang="EN-US">>>>
Notes CCWG – AP Meeting 10 August 2017:</span></b><b><span style="font-family:PMingLiU" lang="EN-US"><br>
<br>
<br>
<br>
</span></b><b><span lang="EN-US">>>>
These high-level notes are designed to help
the CCWG navigate through the</span></b><b><span style="font-family:PMingLiU" lang="EN-US"><br>
</span></b><b><span lang="EN-US">>>>
content of the call and are not meant as a
substitute for the transcript<br>
>>> and/or recording. The MP3,
transcript, and chat are provided separately
and<br>
>>> are posted on the wiki at: </span></b><span lang="EN-US"><a href="https://urldefense.proofpoint.com/v2/url?u=https-3A__community.icann.org_x_DLHDAw&d=DwMFAw&c=FmY1u3PJp6wrcrwll3mSVzgfkbPSS6sJms7xcl4I5cM&r=IWWGaKyGUGcKQNGe7LtArAou7HP6fPR5aWjbPBUFZ3k&m=HKuU-9DAESnqcGMIdaNf5MeIgsXuBdt1W6-AYHyIJIc&s=6OyX-H7GEmBCRJWXNDGE46VvO6oDVoRB82Z2AeomXAg&e=" target="_blank" moz-do-not-send="true">https://community.icann.org/x/DLHDAw[community.icann.org]</a><b>.<br>
<br>
<br>
<br>
>>> Roll Call<br>
<br>
<br>
<br>
>>> Please state your name for
transcription purposes and keep microphones on<br>
>>> mute when not speaking.<br>
>>> Attendance will be taken from the
AdobeConnect room.<br>
<br>
<br>
<br>
>>> Welcome – DOI</b></span><b><span style="font-family:PMingLiU" lang="EN-US"><br>
<br>
<br>
<br>
</span></b><b><span lang="EN-US">>>>
Overview from Xavier Calvez on investment
management<br>
<br>
<br>
<br>
>>> The intention of this
presentation is<br>
<br>
>>> to allow the group to think on
the issue of investment,<br>
>>> to understand ICANN's practice,
and to answer any questions that might be<br>
>>> raised.<br>
<br>
>>> It helps to inform the discussion
on the ROI of the fund; It includes an<br>
>>> overview of how the auction
proceeds are currently managed, which might
lead<br>
>>> to how they might be managed in
the future.<br>
<br>
<br>
<br>
>>> Important to note:<br>
<br>
>>> only conservative investment
policies are being used<br>
>>> the investment strategy will be
designed in support of the objectives<br>
<br>
<br>
<br>
>>> An overview of some illustrative
investment scenarios was provided,<br>
>>> followed by Q&A.<br>
<br>
<br>
<br>
>>> Parameters that need to be
considered:<br>
<br>
>>> amount of money<br>
>>> horizon<br>
>>> level of risk (which is not
correlated to the horizon)<br>
<br>
<br>
<br>
>>> Financial information is
regularly provided during the quarterly<br>
>>> stakeholder calls.<br>
<br>
>>> (amount from latest update - Q3
data of FY17.<br>
</span></b><span lang="EN-US">>>> <a href="https://urldefense.proofpoint.com/v2/url?u=https-3A__www.icann.org_quarterlyreports&d=DwMFAw&c=FmY1u3PJp6wrcrwll3mSVzgfkbPSS6sJms7xcl4I5cM&r=IWWGaKyGUGcKQNGe7LtArAou7HP6fPR5aWjbPBUFZ3k&m=HKuU-9DAESnqcGMIdaNf5MeIgsXuBdt1W6-AYHyIJIc&s=baFsmaqAdvnSkJG4eoXhzZNn5-StHSA9z08s4kUvK4E&e=" target="_blank" moz-do-not-send="true">https://www.icann.org/quarterlyreports[icann.org]</a><b>)<br>
<br>
>>> Reserve Fund: 64 million<br>
>>> New gTLD unspent application
fees: 128 million<br>
>>> Auction proceeds: 233 million<br>
>>> Annual budget of ICANN. FY18
budget expenses 142 million USD.<br>
<br>
<br>
<br>
>>> Regarding replenishing the
reserve fund: appropriate procedures need to
be<br>
>>> taken, appropriate approvals and
decisions need to be in place for it to be<br>
>>> legal.<br>
<br>
>>> This is however a moral question
as well. The charter does include this<br>
>>> question: “To what extent (and,
if so, how) could ICANN, the Organization or<br>
>>> a constituent part thereof, be
the beneficiary of some of the auction fundsâ€
</b></span><b><span style="font-family:PMingLiU" lang="EN-US"><br>
<br>
</span></b><b><span lang="EN-US">>>>
The group needs to discuss this at a later
stage.</span></b><b><span style="font-family:PMingLiU" lang="EN-US"><br>
<br>
<br>
<br>
</span></b><b><span lang="EN-US">>>>
Next meeting</span></b><b><span style="font-family:PMingLiU" lang="EN-US"><br>
<br>
<br>
<br>
</span></b><b><span lang="EN-US">>>>
next CCWG-AP meeting is scheduled for Thursday
24 August at 14.00 UTC</span></b><b><span style="font-family:PMingLiU" lang="EN-US"><br>
<br>
<br>
<br>
</span></b><b><span lang="EN-US">>>> =
= = =<br>
<br>
<br>
<br>
>>> Action item #1:<br>
<br>
>>> CCWG to review the slides
presented by Xavier (published on<br>
</span></b><span lang="EN-US">>>> <a href="https://urldefense.proofpoint.com/v2/url?u=https-3A__community.icann.org_display_CWGONGAP_2017-2D08-2D10-2BCCWG-2BNew-2BgTLD-2BAuction-2BProceeds-2Bcall&d=DwMFAw&c=FmY1u3PJp6wrcrwll3mSVzgfkbPSS6sJms7xcl4I5cM&r=IWWGaKyGUGcKQNGe7LtArAou7HP6fPR5aWjbPBUFZ3k&m=HKuU-9DAESnqcGMIdaNf5MeIgsXuBdt1W6-AYHyIJIc&s=FQiYsQAxL7CV_3RJCSjIYJtSMgDGoFBN-QeXmJoUPBU&e=" target="_blank" moz-do-not-send="true">https://community.icann.org/display/CWGONGAP/2017-08-10+CCWG+New+gTLD+Auction+Proceeds+call[community.icann.org]</a>
<b>)<br>
>>> and to share any further
questions for Xavier on the group’s mailing
list.</b></span><b><span style="font-family:PMingLiU" lang="EN-US"><br>
<br>
<br>
<br>
</span></b><b><span lang="EN-US">>>>
Action item #2:</span></b><b><span style="font-family:PMingLiU" lang="EN-US"><br>
<br>
</span></b><b><span lang="EN-US">>>>
Per the discussion during the CCWG-AP meeting
on 27 July 2017, the</span></b><b><span style="font-family:PMingLiU" lang="EN-US"><br>
</span></b><b><span lang="EN-US">>>>
attached mind map was developed, which aims to
regroup the objectives based<br>
>>> on the survey results as well as
the subsequent discussions. The CCWG is<br>
>>> encouraged to continue to provide
feedback on the proposed regrouping of<br>
>>> objectives/priorities, as well as
the clustering of examples ahead of the<br>
>>> next meeting, scheduled for 24
August at 14 UTC.<br>
<br>
<br>
<br>
>>> Action item #3:<br>
<br>
>>> CCWG to review responses to
charter question #4 and to continue the<br>
>>> discussion on the mailing list.<br>
<br>
>>> (see </span></b><span lang="EN-US"><a href="https://urldefense.proofpoint.com/v2/url?u=https-3A__www.surveymonkey.com_results_SM-2D6GNDQHJ6_&d=DwMFAw&c=FmY1u3PJp6wrcrwll3mSVzgfkbPSS6sJms7xcl4I5cM&r=IWWGaKyGUGcKQNGe7LtArAou7HP6fPR5aWjbPBUFZ3k&m=HKuU-9DAESnqcGMIdaNf5MeIgsXuBdt1W6-AYHyIJIc&s=yulKeXnAn5CN2_dNRAj8nx_5IeuwBT4F1Heh3dtZJWI&e=" target="_blank" moz-do-not-send="true">https://www.surveymonkey.com/results/SM-6GNDQHJ6/[surveymonkey.com]</a><b>
)<br>
<br>
<br>
<br>
>>> = = = =<br>
<br>
<br>
<br>
<br>
<br>
>>> Joke Braeken<br>
<br>
>>> ccNSO Policy Advisor<br>
<br>
</b><a href="mailto:joke.braeken@icann.org" target="_blank" moz-do-not-send="true">>>>
joke.braeken@icann.org</a><br>
<br>
<br>
<br>
<b>>>> Follow @ccNSO on Twitter: </b><a href="https://urldefense.proofpoint.com/v2/url?u=https-3A__twitter.com_ccNSO&d=DwMFAw&c=FmY1u3PJp6wrcrwll3mSVzgfkbPSS6sJms7xcl4I5cM&r=IWWGaKyGUGcKQNGe7LtArAou7HP6fPR5aWjbPBUFZ3k&m=HKuU-9DAESnqcGMIdaNf5MeIgsXuBdt1W6-AYHyIJIc&s=ksIYlCk3ZzcyyNbJFUxushrbiDZC4_lO_WVwmhRrWG4&e=" target="_blank" moz-do-not-send="true">https://twitter.com/ccNSO[twitter.com]</a><br>
<br>
<b>>>> Follow the ccNSO on Facebook: </b><a href="https://urldefense.proofpoint.com/v2/url?u=https-3A__www.facebook.com_ccnso_&d=DwMFAw&c=FmY1u3PJp6wrcrwll3mSVzgfkbPSS6sJms7xcl4I5cM&r=IWWGaKyGUGcKQNGe7LtArAou7HP6fPR5aWjbPBUFZ3k&m=HKuU-9DAESnqcGMIdaNf5MeIgsXuBdt1W6-AYHyIJIc&s=K_zzz3ZhAdQ0ckOqfmq_HvpwupZ-DfQbOd39kyGgqsI&e=" target="_blank" moz-do-not-send="true">https://www.facebook.com/ccnso/[facebook.com]</a><br>
<br>
>>> <a href="https://urldefense.proofpoint.com/v2/url?u=http-3A__ccnso.icann.org_&d=DwMFAw&c=FmY1u3PJp6wrcrwll3mSVzgfkbPSS6sJms7xcl4I5cM&r=IWWGaKyGUGcKQNGe7LtArAou7HP6fPR5aWjbPBUFZ3k&m=HKuU-9DAESnqcGMIdaNf5MeIgsXuBdt1W6-AYHyIJIc&s=kopXyX7wBTECByzaEGsPL-Mbcct5zfvtn4kCkugUF3I&e=" target="_blank" moz-do-not-send="true">http://ccnso.icann.org[ccnso.icann.org]</a><br>
<br>
<br>
<br>
<br>
<b>>>>
_______________________________________________<br>
>>> Ccwg-auctionproceeds mailing list<br>
</b><a href="mailto:Ccwg-auctionproceeds@icann.org" target="_blank" moz-do-not-send="true">>>>
Ccwg-auctionproceeds@icann.org</a><br>
>>> <a href="https://mm.icann.org/mailman/listinfo/ccwg-auctionproceeds" target="_blank" moz-do-not-send="true">https://mm.icann.org/mailman/listinfo/ccwg-auctionproceeds</a><br>
<br>
<br>
<br>
<b>>>
_______________________________________________<br>
>> Ccwg-auctionproceeds mailing list<br>
</b><a href="mailto:Ccwg-auctionproceeds@icann.org" target="_blank" moz-do-not-send="true">>>
Ccwg-auctionproceeds@icann.org</a><br>
>> <a href="https://mm.icann.org/mailman/listinfo/ccwg-auctionproceeds" target="_blank" moz-do-not-send="true">https://mm.icann.org/mailman/listinfo/ccwg-auctionproceeds</a><br>
<b>MK>
_______________________________________________<br>
MK> Ccwg-auctionproceeds mailing list<br>
</b><a href="mailto:Ccwg-auctionproceeds@icann.org" target="_blank" moz-do-not-send="true">MK>
Ccwg-auctionproceeds@icann.org</a><br>
MK> <a href="https://mm.icann.org/mailman/listinfo/ccwg-auctionproceeds" target="_blank" moz-do-not-send="true">https://mm.icann.org/mailman/listinfo/ccwg-auctionproceeds</a><br>
<br>
<br>
<br>
<i>-- <br>
Saludos,<br>
Dietmar <br>
<br>
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