The Internet Corporation for Assigned Names and Numbers (ICANN) will spend the sum of $65,509,000 about N10,114,916,960.22 trillion in 2011.ICANN in an operating plan and budget outline made available to ITRealms Online at the weekend, indicated that the goals to be accomplished and the resources required to implement an organization’s strategy.
ICANN is responsible for managing and coordinating the Domain Name System (DNS) to ensure that every address is unique and that all users of the Internet can find all valid addresses. Also, it does this by overseeing the distribution of unique Internet Protocol (IP) addresses and domain names to make certain that each domain name maps to the correct IP address.
In a budget outline tagged ‘ICANN’s 2010 to 2013 Strategic Plan,’ ICANN stated in its summary, that the body would $65,509,000.
ITRealms Online gathered that ICANN intend to rake the sum of $32,647,000 from the Registry, Registrar, $29,159,000, Regional Internet Registry (RIR) $823,000, country code Top Level Domains (ccTLD) $1,600,000, Internationalised Domain Names (IDN-ccTLD) $780,000 and meeting sponsorships $500,000.
The above outline totals $65,509,000, while ICANN forecast showed that it would rake in about $63,313,000, while its budget for 2010 was fixed at $62,641,600 with difference of $2,867,400, which indicates a difference of 4.6 per cent between the 2010 and 2011 budget plan for the organisation.
ITRealms Online also gathered that ICANN has contracts with registry operators of 17 generic top level domains (gTLDs) such as dot-asia, dot-com and dot-jobs, even as registry fees are described in the respective registry agreements.
ICANN is also responsible for accrediting the domain name registrars, which means the identification and setting minimum standards for the performance of registration functions, to recognize persons or entities meeting those standards, and to enter into an accreditation agreement that sets forth the rules and procedures applicable to the provision of Registrar Services.
ICANN's role is very limited, and it is not responsible for many issues associated with the Internet, such as financial transactions, Internet content control, spam - unsolicited commercial electronic mail (email), Internet gambling or data protection and privacy.
Created on September 18, 1998 and incorporated on September 30, the same year, ICANN which is headquartered in Marina del Rey, California, United States, oversee a number of Internet-related tasks previously performed directly on behalf of the United States government by other organizations, notably the Internet Assigned Numbers Authority (IANA).
ICANN is responsible for managing the Internet Protocol address spaces (IPv4 and IPv6) and assignment of address blocks to regional Internet registries, for maintaining registries of Internet protocol identifiers, and for the management of the top-level domain name space (DNS root zone), which includes the operation of root name servers. Most visibly, much of its work has concerned the introduction of new generic top-level domains (TLDs). The technical work of ICANN is referred to as the IANA function.
ICANN's primary principles of operation have been described as helping to preserve the operational stability of the Internet; to promote competition; to achieve broad representation of global Internet community; and to develop policies appropriate to its mission through bottom-up, consensus-based processes.
On September 29, 2006, ICANN signed a new agreement with the United States Department of Commerce (DOC) that moves the private organization towards full management of the Internet's system of centrally coordinated identifiers through the multi-stakeholder model of consultation that ICANN represents.
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