The budget is the first of the newly formed IETF LLC and was prepared as an IAOC document looking forward to the new structure. The goal was to prepare a realistic budget that identified the needs of the organization up front avoiding the need to return to ISOC for additional funds at the end of the year.
In accordance with the LLC’s Limited Liability Agreement with the Internet Society (ISOC), the budget includes a one-time ISOC contribution of $5,000,000 to the LLC and meeting revenue of $3,941,880 for a total of $9,025,440. The one-time contribution was established at a level that would allow the LLC to operate and manage, but most importantly stay within budget.
The budget format has been revised to ensure that all costs associated to meetings and operations are reflected in those expense lines. Meeting expenses for 2019 are based on details from hotel contracts as well as contracted vendor increases. Expenses appear higher than in previous years’ budgets because we have moved all expenses associated with meetings to this section to reflect the true cost.
Meeting expenses for IETF 104 in Prague, IETF 105 in Montreal, and IETF 106 in Singapore are budgeted for $3,837,325 and Operating Expenses total $4,834,867 for a grand total of $8,672,193. Additionally, $190,550 has been set aside for IETF Capital Investment on Tools.
The Interim Board has made a concerted effort to provide flexibility in funds for the permanent board to make decisions in moving forward in staffing and other decisions that may or may not have monetary implications.