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Collage showing images with one-word descriptors from the U S P T O Fiscal Year 2008 Performance and Accountability Report cover that reinforces the reportís tagline of Transforming for the Future Today.
Performance and Accountability Report Fiscal Year 2008
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.

Our CFO — USPTO Chief Financial Officer Barry Hudson serves as the agency’s principal financial adviser and manager of fiscal operations. In accordance with the Strategic Plan for 2007-2012, the Office of the Chief Financial Officer continues to support the strategic direction of the USPTO to achieve its core mission and strives to achieve organizational excellence.

In FY 2008, the USPTO continued a high standard of financial management. As a result of the dedicated efforts of the financial management staff throughout the USPTO, we have received an unqualified opinion on our financial statements for the 16th consecutive year. Along with the unqualified opinion, the auditors reported no material weaknesses in the design and operation of the USPTO’s system of internal control over financial reporting and the auditors reported that our financial system complies with Federal financial systems requirements. For the sixth consecutive year, the Association of Government Accountants awarded the USPTO the Certificate of Excellence in Accountability Reporting for our FY 2007 Performance and Accountability Report, clearly demonstrating our excellence in integrating performance and accountability reporting.

In accordance with the 2007-2012 Strategic Plan, the Office of the Chief Financial Officer (OCFO) continues to support the strategic direction of the USPTO by carrying out the fundamental objectives of the enterprise-wide management goal, Achieve Organizational Excellence, through sound and cost-effective resource management and improving the transparency into executive management information to monitor the health of the organization.

An important foundation for organizational excellence is the continuous evaluation of processes to improve efficiency, effectiveness, and accountability. Changes to our accounting classification structure improved the timeliness, usefulness, and accuracy of financial management information for decision-making. Cost information is now captured at an enterprise-wide level, rather than a traditional stove-piped view. This allows the USPTO to better manage processes across the organization from a cross-functional perspective rather than an organizational one.

As a result, executives and program managers now have better insight into the cost of cross-cutting activities and the ability to more accurately align costs with operational activities. Furthermore, the OCFO is able to provide more effective stewardship of patent and trademark fees by right-sizing our spending plans and maximizing our funding flexibilities. The USPTO also analyzed the current fee structure for newly proposed or revised fees using cost information to ensure full cost recovery.

We also continue to review financial management and related processes to identify areas for improvement in efficiency, financial and performance data integration, and internal controls to ensure unmatched reliability in financial activities. We strive to carry out an internal control evaluation program that not only meets regulatory requirements, but allows us to continuously improve efficiency, effectiveness, and accountability. Each year, we conduct an assessment of our internal controls over financial reporting. In addition, we perform a number of internal control reviews to monitor the effectiveness and efficiency of selected operational controls and compliance with applicable laws and regulations. In FY 2008, we performed two such non-financial internal control reviews in order to measure our success at fulfilling the objectives of OMB Circular A-25, User Charges, and the Program Assessment Rating Tool (PART) review process.

As in past years, we will continue to integrate 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, simplistic, and accurate. We will look forward to continuing our organizational excellence by providing strategic leadership and being a true business partner to achieving the strategic goals of the organization.

Signature of Barry K. Hudson

Barry K. Hudson
Chief Financial Officer
November 7, 2008

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