1 June 2001
(original notification in: http://www.dnso.org/clubpublic/nc-budget/Arc00/msg00426.html)
To the DNSO Budget Committee:
This document describes the arrangements under which ICANN will handle funds received from contributors designating those funds as intended to support the DNSO and its activities. This document is based on ICANN Board resolution 01.36 http://www.icann.org/minutes/prelim-report-13mar01.htm#01.36 and DNSO Decision D2 of 9 May 2001 http://www.dnso.org/dnso/notes/20010509.NCtelecon-minutes.html.
1. Funds received by ICANN that are contributed for the support of the DNSO and its activities will be placed in a bank account or accounts separate from the accounts holding other ICANN funds.
2. ICANN will not charge administrative fees against the account(s) for its internal costs of handling the funds. ICANN will use reasonable efforts to arrange for bank accounts that provide interest on deposited funds. Bank charges and out-of-pocket costs in maintaining the account(s) will be deducted from the account(s).
3. ICANN management will disburse funds from the account(s) according to the instructions of the Names Council, or according to the instructions of DNSO committees or officials designated by Names Council resolution, unless ICANN management determines that following a disbursement instruction would be illegal or jeopardize ICANN's tax-exempt status. In the event of that ICANN management makes either of these determinations, it will so advise the Names Council.
4. ICANN management will consult with the Names Council or its designee regarding questions that may arise with respect to the handling of the funds, including questions about the sufficiency of instructions that it receives. ICANN management will provide the Names Council or its designee with periodic reports regarding the activity in accounts in which the DNSO funds are held.
5. These arrangements will be changed only with agreement of the Names Council (or its designee) or with 60 days notice to the Names Council.
I hope the above arrangements are satisfactory. Please feel free to discuss any additional questions you may have with me or Stuart.
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