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ICANN and PTI Publish Audited Financial Statements for FY22

30-Oct-2022 | Source : AG-IP News | Visits : 1613

LOS ANGELES - On 25 October 2022, the Internet Corporation for Assigned Names and Numbers (ICANN) announced in a press release that it has published its audited consolidated financial statements and Public Technical Identifiers (PTI) published its audited financial statements for the fiscal year (FY) ending 30 June 2022.

The audited financial statements for both ICANN and PTI are accompanied by an "unqualified" opinion from Moss Adams LLP, ICANN's and PTI's independent audit firm, indicating that the audit did not identify any issues.

ICANN's consolidated financial statements are presented for convenience and informational purposes. These statements and other financial documents are posted on the ICANN Financial and Planning Information page and the Financial Information for Public Technical Identifiers (PTI) page.

ICANN FY22 Financial Statements Highlights
Notably, FY22 funding was $149 million, which remains consistent with previous years' trends, demonstrating the domain name market's resilience in a world, which is dependent primarily on digital communications. Additionally, ICANN's consolidated funds under management totaled $506 million, which included all cash on hand and investments.

ICANN's operational expenses were $130 million in FY22, which were lower than the budget, primarily due to low travel-related expenses and ICANN's virtual public meetings.

ICANN incurred $5 million in operating expenses to process new generic top-level domain (gTLD) applications in FY22, leaving the FY22 year-end balance of the 2012 new gTLD application funds at $70 million. ICANN continues to incur evaluation costs to process the remaining applications and risk related expenses, for which these funds will be used.

About PTI
PTI was incorporated in August 2016 as an affiliate of ICANN. Pursuant to contracts and subcontracts with ICANN, PTI coordinates the Internet's unique identifiers and provides these services in an unbiased, responsible, and effective manner. Mainly, PTI is responsible for the operation of the following Internet Assigned Numbers Authority (IANA) functions: domain names, number resources, and protocol parameter assignments. 

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