Board Meetings & Resolutions

Last Modified on -
Date Resolutions
May
2004
September
2004
December
2004

 

May 2004

Resolution 200405.01

Following the good report given by the Project Manager and the different hosting countries present on the setup progress, the BoT resolved that a letter of appreciation should be sent to:

  • South Africa DoC. 
  • ISP Association of Mauritius.
  • Egypt MICT.
  • UUNET South Africa.

 

Resolution 200405.02

Resolved that AfriNIC will adopt a logo similar to the following visual:

 

Some change need to be make on it like the spelling of AfriNIC, adding one color and including Indian Ocean region. The Board mandates the Project Manager to it up.

 

Resolution 200405.03

Resolved that AfriNIC need a mission statement and endorsed the proposal made by the Project Manager as follows:

"To provide professional and efficient distribution of Internet number resources to the African Internet community, to support Internet technology usage and development across the continent and to strengthen Internet self-governance in Africa by encouraging participatory policy development."

 

Resolution 200405.04

Resolve to approve 20004 Budget proposed by the Project Manager and awaiting approval in the member meeting.

 

Resolution 200405.05

Resolved to setup an Application for Recognition Committee to conduct this process and ensure that the time line for the application is met.

 

Resolution 200405.06

Acknowledged the common willingness of the French Minister of Foreign Affairs and cooperation with Agence Intergouvernementale de la Francophonie who expressed intent to fund part of AfriNIC's startup and thanked them for this support and willingness to work closely with them to finalize the Agreement.

 

Resolution 200405.07

Acknowledged the good work done by the Project Manager and congratulated him for conducting the AfriNIC process to a notable progress. The AfriNIC board recommends a formal appointment of Adiel Akplogan as CEO as soon as a formal AfriNIC board is elected.

 

Resolution 200405.08

The Board Resolve to dissolve the current AfriNIC interim Board as requested by the Original bylaw.

 

September 2004

Resolution 200409.09

That membership of the following Board committees be established: Communication Committee: Charles Musisi, Alam Levin, Adiel Akplogan, Brian Longwe Finance Committee (include fund raising Issue): Viv Padayatchy, Alan Barrett, Adiel Akplogan, Brian Longwe Meeting Committee: Pierre Dandjinou, Adiel Akplogan, Kenny Yiptong

 

Resolution 200409.10

AfrINIC board adopt the delegation of authority version-1 of September 2004 as described in the appended document afadmauth20040915-001.

 

Resolution 200409.11

Further resolved that Adiel Akplogan, as Chief Executive Officer, is authorized to enter into financial transactions in the name of the Registry in accordance with the above guidelines and limitations with the following exceptions:

Contractual Agreements approved by the Board(s) in excess of the $30,000 limitation.

 

Resolution 200409.12

In line with the company delegation of authority, Dr. Viv Padayatchy will act for the Board as signatory of financial documents as described in the delegation au authority document v.1

 

December 2004

Resolution 200412.13

The Board Resolved that the resolutions of the board will be numbered by using a 4 digit year, a 2 digit month, a dot and a serial number. The serial number will not be reset at regular intervals.

 

Resolution 200412.14

that action items of the board will be numbered by using a 4 digit year, a 2 digit month, a dash and finally an action number. The serial number will be reset every month.

 

Resolution 200412.15

that the minute of meeting of September 9th 2004 is adopted

 

Resolution 200412.16

that board meeting conference call should be held on every first Thursday every two months and at least 3 face to face meeting annually.

 

Resolution 200412.17

that Afrinic II will be held in Maputo, Mozambique. Proposed dates: 26th and 27th April.

 

 

Last Modified on -

Reserves as per Resolution 200801.60

In January 2008, the AFRINIC Board passed a resolution, Reference 200801.60, regarding the accumulation of reserves, as follows:

QUOTE:

“AFRINIC should endeavour to build a reserve fund sufficient to cover two years of operational expenses.”

UNQUOTE

(REDACTED)

 

Financial Reserves & Cash Holdings

At the end of every financial year, the net Surpluses (and Net Loss) are accumulated to derive what is called in the Balance Sheet as the Revenue Reserves. The balance on the Revenue Reserves as at the end of the financial year ended December 2018, stood at US$ 4,755,574; which represents the undistributed accumulated surpluses since AFRINIC’s incorporation in 2004. It must be pointed out that Revenue Reserves is NOT equivalent to Cash Holdings.

A Board Resolution dated 27 November 2015, authorized Management to create a Strategic Cash Reserve from AFRINIC own cash holdings. By the end of Quarter 3 2019, the Strategic Cash Reserves consist of multiple fixed deposits totalling US$ 3,202,624. In addition to the Strategic Cash Reserves, AFRINIC cash holdings amounted to US$ 3,418,647 as at the same date.

 

Definitions

In order for the provisions of resolution 200801.60 to be consistently applied, year in year out, it is important that the intention of the Board is defined and clarified as follows:

  • Build a reserve fund
  • Sufficient to cover two years of operational expenses
  • Operational expenses

 

Build a reserve fund

For the purpose of resolution 200801.60, the building of a reserve fund shall constitute the setting aside of actual cash from AFRINIC own cash holdings into specially designated bank accounts which Management shall open and manage.

Funds sitting in normal operational bank accounts shall not be counted as reserve funds. Balances on such bank accounts shall be disclosed separately in the balance sheet, from operating holdings. Investment into assets other than cash can be treated as part of the reserve fund, provided it is supported by a Board resolution. Withdrawal from reserve funds shall be strictly controlled and subject to Board approval and shall follow laid down rules.

 

Sufficient to cover two years of operational expenses

The two years being referred to here is assumed to be two years of operational activities triggered by a major event which will prevent AFRINIC from continuing operations either temporarily or in the long term, during which no or limited fees or any other source of income will flow in. The two years of operations will be required to continue operational activities until closure or until the event leading to the suspension of normal operations no longer prevails. The event may also result in a substantial change in the existing business model or a permanent cut back on services. It is important to note that should such an event result into the dissolution of the organization, all the funds available shall be applied (not only the buildup reserves for the purpose)

Such a trigger is expected to be initiated by a Board Resolution which will provide guidance as to the way forward.

 

Operational Expenses

In the case where the trigger event results in temporary curtailed operational activities during which zero or limited inflow of funds from fees is anticipated (for a foreseeable future), the operating costs profile shall have to reflect such reduced operations. Some fixed costs, already contracted shall have to be incurred until the expiration of the contractual period, while other types of expenses may become due to complying with existing legislation (Labor laws etc). A simple approach is to assign a percentage (%) reduction or increase to each expense type for two years. The percentages can then be applied to the latest set of actual expenses in order to assess to what extent the reserve fund holding covers the two years of adjusted operating expenses as defined by resolution 200801.60.

 

 

 

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