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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 15. Reconciliation of Net Cost of Operations to Budget

Most entity transactions are recorded in both budgetary and proprietary accounts. However, because different accounting bases are used for budgetary and proprietary accounting, some transactions may appear in only one set of accounts. The following reconciliation provides a means to identify the relationships and differences that exist between the aforementioned budgetary and proprietary accounts.

The reconciliation of net cost of operations to budget for the years ended September 30, 2007 and 2006, is as follows:

Reconciliation of Net Cost of Operations to Budget
For the years ended September 30, 2007 and 2006
(Dollars in Thousands)
  2007 2006
RESOURCES USED TO FINANCE ACTIVITIES    
Budgetary Resources Obligated:    
Obligations Incurred $1,766,424  $1,674,441 
Spending Authority from Offsetting Collections and Recoveries (1,800,959) (1,674,529)
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Net Obligations    (34,535)        (88)
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Total Resources Used to Finance Activities    (34,535)        (88)
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RESOURCES USED TO FINANCE ITEMS NOT PART OF THE NET COST OF OPERATIONS
   
Change in Budgetary Resources Obligated for Goods, Services and Benefits Ordered but not yet Provided     40,204    (141,315)
Resources that Fund Costs Recognized in Prior Periods     (1,378)         —
Budgetary Offsetting Collections that do not Affect Net Cost of Operations     55,277      69,531 
Resources that Finance the Acquisition of Assets Capitalized on the Balance Sheet   (101,773)    (70,001)
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Total Resources Used to Finance Items not Part of the Net Cost of Operations     (7,670)   (141,785)
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COMPONENTS OF NET COST OF OPERATIONS THAT WILL NOT REQUIRE OR GENERATE RESOURCES IN THE CURRENT PERIOD
   
Components Requiring or Generating Resources in Future Periods:    
Costs that will be Funded by Resources in Future Periods     14,468       7,580 
Net (Increase)/Decrease in Revenue Receivables not Generating Resources until Collected        (75)         80 
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Total Components of Net Cost of Operations that will Require or Generate Resources in Future Periods     14,393       7,660 
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Components not Requiring or Generating Resources:    
Depreciation, Amortization, or Loss on Asset Dispositions     61,734      53,864 
Other Costs that will not Require Resources         30          81 
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Total Components of Net Cost of Operations that will not Require or Generate Resources     61,764      53,945 
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Total Components of Net Cost of Operations that will not Require or Generate Resources in the Current Period     76,157      61,605 
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Net Cost /(Income) from Operations $   33,952  $  (80,268)
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