<html xmlns:v="urn:schemas-microsoft-com:vml" xmlns:o="urn:schemas-microsoft-com:office:office" xmlns:w="urn:schemas-microsoft-com:office:word" xmlns:x="urn:schemas-microsoft-com:office:excel" xmlns:m="http://schemas.microsoft.com/office/2004/12/omml" xmlns="http://www.w3.org/TR/REC-html40"><head><meta http-equiv=Content-Type content="text/html; charset=us-ascii"><meta name=Generator content="Microsoft Word 14 (filtered medium)"><style><!--
/* Font Definitions */
@font-face
{font-family:Calibri;
panose-1:2 15 5 2 2 2 4 3 2 4;}
/* Style Definitions */
p.MsoNormal, li.MsoNormal, div.MsoNormal
{margin:0in;
margin-bottom:.0001pt;
font-size:11.0pt;
font-family:"Calibri","sans-serif";}
a:link, span.MsoHyperlink
{mso-style-priority:99;
color:blue;
text-decoration:underline;}
a:visited, span.MsoHyperlinkFollowed
{mso-style-priority:99;
color:purple;
text-decoration:underline;}
span.EmailStyle17
{mso-style-type:personal;
font-family:"Calibri","sans-serif";
color:windowtext;}
span.EmailStyle18
{mso-style-type:personal-reply;
font-family:"Calibri","sans-serif";
color:#1F497D;}
.MsoChpDefault
{mso-style-type:export-only;
font-size:10.0pt;}
@page WordSection1
{size:8.5in 11.0in;
margin:1.0in 1.0in 1.0in 1.0in;}
div.WordSection1
{page:WordSection1;}
--></style><!--[if gte mso 9]><xml>
<o:shapedefaults v:ext="edit" spidmax="1026" />
</xml><![endif]--><!--[if gte mso 9]><xml>
<o:shapelayout v:ext="edit">
<o:idmap v:ext="edit" data="1" />
</o:shapelayout></xml><![endif]--></head><body lang=EN-US link=blue vlink=purple><div class=WordSection1><p class=MsoNormal>GNSO Council Members,<o:p></o:p></p><p class=MsoNormal><o:p> </o:p></p><p class=MsoNormal>On behalf of the GNSO Council Standing Committee on ICANN’s Budget and Ops Plan (informal until Council adoption of charter), I attach here a draft of comments regarding ICANN’s Reserve Target Level for your consideration and eventual submission to the public comment forum, absent any objections from Council members. The comment submission deadline is <b><span style='color:red'>30 November 2017</span></b> and as such Council’s deliberation on this draft can occur via the Council’s mailing list and it will also be an agenda item on the 30 Nov Council meeting.<o:p></o:p></p><p class=MsoNormal><o:p> </o:p></p><p class=MsoNormal>The standing committee met last week to discuss this topic and was also joined by Xavier Calvez, ICANN’s CFO. As agreed during that call, staff assisted the committee with developing a first draft. This draft contains two options with regards to the size of the Reserve Fund; option 1 in line with the current target as analyzed by staff and the Board Finance Committee, and option 2 that proposes an extension to 24 months of operating expenses. Please refer to the attached draft for details and the analysis paper submitted for public comment <span style='color:#1F497D'>(<a href="https://www.icann.org/public-comments/reserve-fund-2017-10-12-en">https://www.icann.org/public-comments/reserve-fund-2017-10-12-en</a></span>). Only one comment has been submitted to date.<o:p></o:p></p><p class=MsoNormal><o:p> </o:p></p><p class=MsoNormal>On behalf of the Council Leadership and again absent any objections, staff can submit the final version of comments to the forum by 23:59 UTC, 30 November 2017.<o:p></o:p></p><p class=MsoNormal><o:p> </o:p></p><p class=MsoNormal>In the meantime, please let staff or Council leadership know if you have any questions about process or this draft of comments. Thank you for your attention to this matter.<o:p></o:p></p><p class=MsoNormal><o:p> </o:p></p><p class=MsoNormal>B<o:p></o:p></p><p class=MsoNormal><o:p> </o:p></p><p class=MsoNormal>Berry A. Cobb<o:p></o:p></p><p class=MsoNormal>720.839.5735<o:p></o:p></p><p class=MsoNormal><a href="mailto:mail@berrycobb.com">mail@berrycobb.com</a><o:p></o:p></p><p class=MsoNormal>@berrycobb<o:p></o:p></p><p class=MsoNormal><o:p> </o:p></p></div></body></html>