Board report

The entire board only met once in 2007, in January of that year. On average, the administrative board met once a month together with other members of the administrative management.

The 2007 annual report was approved on circulation. A separate board report will not be made, as it is closely intertwined with the annual report. Ozlo Accountants was appointed as external accountant for another three year period, and will perform the controls of the annual accounts until the account for 2009.

In addition to the regular and statutorily defined issues, such as approval of the plans and the budget, defining annual accounts, and defining the terms of office, a number of topics tabled during this year deserve special attention and explanation:

Freezing the Continuity Fund
The Net4kids Continuity Fund must safeguard the continuity of Net4kids, and its primary objective in generating returns on capital is to provide cover for project and operational costs. In 2007, the returns – corrected for withdrawal – amounted to -/- 11.9%. As indicated in paragraph 11.5, restlessness in the financial markets left its marks on the value of the investments in the Continuity Fund. Given these negative developments, it is good news that the contribution from the Continuity Fund to the Net4kids organisation for 2007 could be financed entirely using the generated (coupon) interest on the obligations. The principal sum, despite interim value losses, has remained intact, and will very likely be paid out in full (100%) at the end of the relatively brief term.

We decided to put the activities for the Continuity Fund on the back burner. We believe our attention is better focused on attracting organisation sponsors. This approach has proved effective – we are proud that Ton aan de Stegge has decided to cover part of the organisational costs.