Committee: Executive Committee of BoT
Document: excom-03-010
Revision:
Supersedes:
Status: Unconfirmed
Maintainer: Minutes taken by S. Bradner.
Access: Unrestricted
Present:
Fred Baker (Chair)
Steve Crocker
Latif Ladid
Glenn Ricart
Pindar Wong
Lynn St. Amour (President)
Lynn DuVal (ISOC Director of Finance)
Scott Bradner (Secretary).
Apologies were received from Kees Neggers.
The ISOC ExCom met from 10:10 am to 12:47 pm (EST) December 8, 2003 via conference call.
I – Elections update – G. Ricart
Glen reported that he has been in touch with George but did not know when the Elections Committee would act. Lynn noted that the elections schedule needs to be approved soon and a call for nominations needs to go out in the next few days.
II – 2004 Budget – L. St. Amour / L. DuVal
Lynn St. Amour discussed the draft budget report that she had prepared for the board teleconference next week.
She reported that she and Ed had discussed the additional 2003 PIR donation to the ISOC because the PIR auditors had raised some issues with the donation and its relationship with the pending decision on the PIR tax status. Lynn reported that the discussions are continuing and should be resolved soon. The current ISOC budget assumes that the additional PIR donation for 2003 will be $750K.
Lynn reported that the overall income from organizational members will fall short of the 2003 budget, even taking into account the increase in Platinum members. But the picture for PIR is quite positive. All 2003 expenses, other than those for programs explicitly funded by PIR, are projected to be lower than originally forecast.
Steve requested that additional data be provided in the budget forecast to detail the rebudgeting that was done when the level of PIR donations became clear. Lynn agreed to include that information.
Lynn DuVal reported that she was meeting with the bank this afternoon about a $500K line of credit having filed all the required paperwork over the last few weeks.
Lynn St. Amour reviewed the ISOC cash flow, noting that the level of support could be significant in 2004.
Lynn discussed the implications for the ISOC budget of the ongoing reorganization discussions in the IETF. The proposed ISOC 2004 budget assumes that the roles of current IETF stakeholders (including RFC Editor, IANA, and Fortec) continue in their current roles throughout 2004 and that the ISOC would start providing additional support for IETF activities starting in May (for an IETF manager) and June (for the Secretariat).
Lynn also discussed the projected PIR donation for 2004. The earlier projection was that there would be a donation of about $1.9 million (and that is the number that is in the ISOC budget) but the proposed PIR budget assumes that the donation may be less. Lynn is in discussion with Ed about the difference. The ExCom recommended that Lynn not change the proposed ISOC budget until more is known. The final number will be available from PIR in time for the ISOC board teleconference since the PIR board meeting will be held before then.
Lynn noted that the projection for organizational membership revenue is flat for 2004. (Lynn – please verify I heard correctly) Lynn reported that ISOC staff have evaluated the responses to the membership system RFP and have settled on four finalists. Lynn noted that the ISOC staff currently is 8.7 FTEs and that the projection in the budget for 2004 is 12 FTE but that it is possible that additional accounting support will not be required since the ISOC has a new accounting package that may be more efficient to operate. Additional staff is needed for web site support and technical writing. Lynn DuVal provided an overview of the budget itself and noted the growth in cost for the D&O insurance, the need to replace some old computer equipment and the chance that PIR will move out of the ISOC space they are currently renting.
Lynn St. Amour asked the ExCom to note that the budget projects that the ISOC will be in a strong cash position by the end of 2004 even taking the potential for increased IETF expenses.
The ExCom supported Lynn forwarding the proposed budget to the full board.
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