Whereas, ICANN's bylaws require that the President shall
prepare and submit to the Board a proposed annual budget of the Corporation for
the next fiscal year;
Whereas, the President, with the assistance of the Finance
Committee and the Budget Advisory Group, has followed an open and consultative
process in developing the budget, including posting of a preliminary budget on
19 February 2001, posting of a proposed budget on 14 May 2001, submission of
comments through an on-line comment forum, and a budget presentation and
discussion at the ICANN Public Forum in Stockholm on 3 June 2001;
Whereas, the Board has carefully considered the comments
received;
Whereas, the President has submitted to the Board a proposed
budget prepared through that consultative process for FY01-02, commencing 1
July 2001 (the "Proposed Budget");
Whereas, the Board has reviewed the Proposed Budget and has
found that its adoption is in the best interest of the Corporation;
Resolved [01.xx] that the Proposed Budget is hereby adopted
as the annual budget of the Corporation for the fiscal year beginning 1 July
2001 (as adopted, the "Budget"); and
Further resolved [01.xx] that the President is authorized and directed to implement and carry out the Budget and is directed to inform the Board of material variances from the Budget.