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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

NOTE 5. Liabilities

The USPTO records liabilities for amounts that are likely to be paid as the direct result of events that have already occurred. The USPTO considers liabilities covered by three types of resources: realized budgetary resources; unrealized budgetary resources that become available without further Congressional action; and cash and Fund Balance with Treasury. Realized budgetary resources include obligated balances funding existing liabilities and unobligated balances as of September 30, 2007. Unrealized budgetary resources are amounts that were not available for spending through September 30, 2007, but become available for spending on October 1, 2007 once apportioned by the OMB. In addition, cash and Fund Balance with Treasury cover liabilities that will never require the use of a budgetary resource. These liabilities consist of deposit accounts, refunds payable to customers for fee overpayments, undeposited collections, and amounts collected by the USPTO on behalf of other organizations.

Liabilities not covered by budgetary resources include Accounts Payable, Accrued Post-employment Compensation, Accrued Payroll and Benefits, Accrued Leave, Deferred Revenue, Actuarial Liability, and Contingent Liability. Although future appropriations to fund these liabilities are probable and anticipated, Congressional action is needed before budgetary resources can be provided.

As of September 30, 2007 and 2006, liabilities covered and not covered by budgetary resources were as follows:

USPTO Liabilities as of September 30, 2007 and 2006
(Dollars in Thousands)
  2007 2006
Liabilities Covered by Resources    
Intragovernmental:    
Accounts Payable $    4,491 $    9,799
Accrued Payroll and Benefits      6,846      6,174
Customer Deposit Accounts      4,779      4,498
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Total Intragovernmental     16,116     20,471

Accounts Payable
    90,928     92,101
Accrued Payroll and Benefits     32,811     27,798
Customer Deposit Accounts     87,090     79,309
Patent Cooperation Treaty Account      13,717        8,746 
Madrid Protocol Account        450        279
Deferred Revenue      32,602       11,962 
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Total Liabilities Covered by Resources $  273,714 $  240,666
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Liabilities Not Covered by Resources
   
Intragovernmental:    
Accounts Payable  $    1,183   $    2,366 
Accrued Post-employment Compensation      1,826      1,563
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Total Intragovernmental      3,009      3,929

Accounts Payable
         —        124
Accrued Payroll and Benefits     28,896     23,584
Accrued Leave     51,773     43,812
Deferred Revenue    795,468    762,463
Actuarial Liability      7,929      7,470
Contingent Liability        652        250
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Total Liabilities Not Covered by Resources $  887,727 $  841,632
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Total Liabilities $1,161,441 $1,082,298
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