GNSO Council Members, On behalf of the GNSO Council Standing Committee on ICANN's Budget and Ops Plan (informal until Council adoption of charter), I attach here a draft of comments regarding ICANN's Reserve Target Level for your consideration and eventual submission to the public comment forum, absent any objections from Council members. The comment submission deadline is 30 November 2017 and as such Council's deliberation on this draft can occur via the Council's mailing list and it will also be an agenda item on the 30 Nov Council meeting. The standing committee met last week to discuss this topic and was also joined by Xavier Calvez, ICANN's CFO. As agreed during that call, staff assisted the committee with developing a first draft. This draft contains two options with regards to the size of the Reserve Fund; option 1 in line with the current target as analyzed by staff and the Board Finance Committee, and option 2 that proposes an extension to 24 months of operating expenses. Please refer to the attached draft for details and the analysis paper submitted for public comment (https://www.icann.org/public-comments/reserve-fund-2017-10-12-en). Only one comment has been submitted to date. On behalf of the Council Leadership and again absent any objections, staff can submit the final version of comments to the forum by 23:59 UTC, 30 November 2017. In the meantime, please let staff or Council leadership know if you have any questions about process or this draft of comments. Thank you for your attention to this matter. B Berry A. Cobb 720.839.5735 mail@berrycobb.com @berrycobb