ABOUT   
Reports > USPTO Annual Reports
Collage showing images with one-word descriptors from the U S P T O Fiscal Year 2007 Performance and Accountability Report cover that reinforces the report's tagline of Transforming for the Future Today.
Performance and Accountability Report Fiscal Year 2007
Financial Section

Table of Contents | Management | Financial | Auditor | IG | Other

Message from the Chief Financial Officer

Photo showing USPTO Chief Financial Officer Barry Hudson serving as the agency’s principal financial adviser and manager of fiscal operations. The Office of Chief Financial Officer guided the agency in creating its new Strategic Plan for 2007-2012.

Our CFO — USPTO Chief Financial Officer Barry Hudson serves as the agency’s principal financial adviser and manager of fiscal operations. The Office of Chief Financial Officer guided the agency in creating its new Strategic Plan for 2007-2012.

In FY 2007, the USPTO continued to maintain its high standard of financial management and accountability in reporting. As a result of the dedicated efforts of the financial management staff throughout the USPTO, we have earned an unqualified opinion on our financial statements for the 15th consecutive year. Along with the unqualified opinion, the auditors reported no material weaknesses or reportable conditions in the design and operation of the USPTO’s system of internal control over financial reporting and the auditors reported no instances in which our financial system did not substantially comply with Federal financial systems requirements. For the fifth consecutive year, the Association of Government Accountants awarded the USPTO the Certificate of Excellence in Accountability Reporting for our FY 2006 Performance and Accountability Report, clearly demonstrating our excellence in integrating performance and accountability reporting.

The most significant change in financial management this year was driven by the adoption of the new 2007-2012 Strategic Plan. For the first time, the strategic plan embodied a new management goal for the USPTO – Achieve Organizational Excellence. While the strategic goals set the direction for the USPTO to achieve its core mission, this management goal focuses on organizational excellence, a necessary element for achieving the USPTO’s strategic goals. The OCFO supports the strategic direction of the USPTO by carrying out the fundamental objectives of the enterprise-wide management goal. The OCFO accomplishes this through sound and cost-effective resource management and improving the transparency into executive management information to monitor the performance and financial accountability of the Agency.

An important foundation for organizational excellence is the continuous evaluation of processes to improve efficiency, effectiveness, and accountability. The OCFO is working to improve strategic sourcing of the goods and services necessary for accomplishing the strategic goals and to provide effective stewardship of patent and trademark fees by right-sizing our spending plans and maximizing or obtaining new funding flexibilities. We also continue to review financial management and related processes to identify areas for improved efficiency, financial and performance data integration, and internal controls to ensure unmatched reliability in financial activities.

During FY 2007, the OCFO changed the accounting classification structure to improve the timeliness, usefulness, and accuracy of financial management information for decision-making. This initiative called for a thorough review of the manner in which we capture and allocate cost information. The structure was simplified and stove-piped coding structures were eliminated, setting the stage for a more enterprise-wide approach to financial management. When complete, executives and program managers will have better insight into the cost of cross-cutting activities and the ability for a more succinct alignment of costs with operational activities.

As we look to the future, we will begin integrating strategic, financial, performance, and operational data in a manner to improve analysis of crucial information, bring the information to those who require it in a timely manner, and ensure the information is valuable, straight forward, and accurate. We look forward to continuing our organizational excellence by providing strategic leadership and being a true business partner in achieving the strategic goals of the organization.

Signature of Barry K. Hudson

Barry K. Hudson
Chief Financial Officer
November 6, 2007

< Previous Page | Next Page >

Is there a question about what the USPTO can or cannot do that you cannot find an answer for? Send questions about USPTO programs and services to the USPTO Contact Center (UCC). You can suggest USPTO webpages or material you would like featured on this section by E-mail to the webmaster@uspto.gov. While we cannot promise to accommodate all requests, your suggestions will be considered and may lead to other improvements on the website.


.|HOME | SITE INDEX| SEARCH | eBUSINESS | HELP | PRIVACY POLICY