Hi,


Thanks for the minutes, they make for interesting reading as always.

It would have been nice if there had been a summary of the goals of the outsourced portfolio management solution including at least the level of expected portfolio return (ER) after costs, portfolio composition and expected total expense ratio (TER). It would also have been interesting to understand portfolio beta, sharpe as well as VaR.  What are management's views on market and liquidity risk beyond the word conservative? Basically, how does the NCC intend to intend to keep ER above inflation?


In the minutes, in 3.3 it is stated:

"mentioned that with a declining number of LIR accounts due to consolidation, we should not exclude increasing our fees for 2025. The Board will take this into account when they present the 2025 Charging Scheme to the members at the GM in May 2024."

and a few lines later:

"The Board suggested aiming for a break-even budget, including revenue at risk. Hans Petter noted  that bringing costs down will not be possible each year."

Considering that the membership recently voted not to increase fees for 2024 it is slightly surprising that increasing membership fees would again be on the agenda for the following year.

Also, I am curious as to why costs (= expenditure) cannot be brought down year/year. I do not remember learning this in business school. Sarcasm aside, what is there something preventing it beyond NCC management not presenting a smaller activity budget to the board and the board not presenting it to the membership for voting?

Thoughts?



Kaj

From: ncc-announce <ncc-announce-bounces@ripe.net> on behalf of Hans Petter Holen <hph+announce@ripe.net>
Sent: Wednesday, July 12, 2023 12:52
To: ncc-announce@ripe.net <ncc-announce@ripe.net>
Subject: [ncc-announce] [news] 167th RIPE NCC Executive Board Meeting - Summary Notes
 
Dear RIPE NCC members,

The RIPE NCC Executive Board held its 167th Meeting on 28 June 2023. The minutes are now available.

Minutes of the 167th Meeting:
https://eur01.safelinks.protection.outlook.com/?url=https%3A%2F%2Fwww.ripe.net%2Fabout-us%2Fexecutive-board%2Fminutes%2F2023%2Fminutes-167th-executive-board-meeting&data=05%7C01%7C%7C433cff2663044113d79d08db82bebda0%7Cd0b71c570f9b4acc923b81d0b26b55b3%7C0%7C0%7C638247527960965106%7CUnknown%7CTWFpbGZsb3d8eyJWIjoiMC4wLjAwMDAiLCJQIjoiV2luMzIiLCJBTiI6Ik1haWwiLCJXVCI6Mn0%3D%7C3000%7C%7C%7C&sdata=39HxOzm3gOvjsjYf6iteQtqDuIIom3U05v7fzKYoG20%3D&reserved=0

The Executive Board publishes the minutes of its meetings so that the workings of the Board and the decisions it makes are transparent to the membership it represents. The following is a summary of the main items from the meeting. Further details are available in the minutes.

-----------------------
Main Items
-----------------------
- I updated the Board on the recruitment of the Chief Registry Officer and the status of key objectives and deliverables for 2023.
- Simon-Jan Haytink presented the financial results up to May 2023, gave an update on the treasury project and asked the Board for direction for the 2024 budget following the adoption of the 2024 Charging Scheme at the last General Meeting.
- Mirjam K¨¹hne shared her report on developments in the RIPE community.
- Fergal Cunningham reported on the May 2023 General Meeting.
- Felipe Victolla Silveira proposed to remove the suspension of the waiting list. The Board accepted his recommendation.
- Athina Fragkouli gave an update on the possibility for Ukrainian members to prevent their resources from being transferred and asked the Board for advice on moving forward. The Board decided to extend the temporary resolution until the proposed policy completes the Policy Development Process. 
- Athina Fragkouli raised the issue of moderation of the Member-Discuss mailing list, pointing out that the delays caused by moderation were a source of concern. The Board decided to remove general moderation and only apply moderation on a case-by-case basis for members who do not comply with the RIPE Code of Conduct or for messages that are not relevant to the mailing list.

----------------------------
Resolutions Adopted
----------------------------
- The RIPE NCC Executive Board approves the minutes of EB#165 and EB#166.

- The RIPE NCC Executive Board approves the updated Treasury Statute June 2023.

- The RIPE NCC Executive Board approves the selection of UBS Luxembourg as a counterparty in compliance with the updated Treasury Statute June 2023.

- The RIPE NCC Executive Board approves the selection of American Express Europe S.A. as a counterparty.

- The RIPE NCC Executive Board resolves to remove the suspension imposed on 21 April 2023 and allow the submission of new applications for the IPv4 Waiting List, effective immediately.

- The RIPE NCC Executive Board, taking into account:
¡ñ      The ongoing discussions about RIPE Policy Proposal 2023-03;
¡ñ      The perceived support by the community for this proposal; and
¡ñ      The time to reach consensus through the Policy Development Process
Resolves to extend the resolution EB#163-R-02 and continue allowing members and End Users (represented by their sponsoring LIRs) to request the prevention of their resources from being transferred until RIPE Policy Proposal 2023-03 completes the Policy Development Process.
The RIPE NCC Executive Board will review this resolution in six months and anticipates the RIPE community will develop a RIPE policy for a permanent solution in the meantime.

- The RIPE NCC Executive Board resolves to remove the temporary moderation of the members-discuss mailing list imposed on 7 March 2022. The RIPE NCC Executive Board further resolves to moderate emails sent from individual subscribers who, from 28 June 2023, send emails evaluated as not in accordance with the purpose of the mailing list or the principles of the RIPE Code of Conduct. This evaluation and moderation will be conducted by a designated member of the RIPE NCC Executive Board and a RIPE NCC staff member. All emails, accepted or rejected, will be archived on the RIPE NCC website.
Further, the RIPE NCC Executive Board resolves that if individual subscribers are put under moderation based on this resolution, this moderation will last one year from the date the last non-complying email was sent, even if this email was sent while the individual subscriber was under moderation.

Kind regards,

Hans Petter Holen
Managing Director
RIPE NCC