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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

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, 2008 and 2007 is as follows:

Reconciliation of Net Cost of Operations to Budget
For the years ended September 30, 2008 and 2007
(Dollars in Thousands)
  2008 2007
RESOURCES USED TO FINANCE ACTIVITIES    
Budgetary Resources Obligated:    
Obligations Incurred $1,852,541  $1,766,424 
Spending Authority from Offsetting Collections and Recoveries (1,897,584) (1,800,959)
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Net Obligations    (45,043)    (34,535)
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Total Resources Used to Finance Activities    (45,043)    (34,535)
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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     41,314      40,204 
Resources that Fund Costs Recognized in Prior Periods     (1,232)     (1,378)
Budgetary Offsetting Collections that do not Affect Net Cost of Operations     23,026      55,277 
Resources that Finance the Acquisition of Assets Capitalized on the Balance Sheet    (67,243)   (101,773)
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Total Resources Used to Finance Items not Part of the Net Cost of Operations     (4,135)     (7,670)
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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     12,052      14,468 
Net Decrease/(Increase) in Revenue Receivables not Generating Resources until Collected        123         (75)
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Total Components of Net Cost of Operations that will Require or Generate Resources in Future Periods     12,175      14,393 
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Components not Requiring or Generating Resources:    
Depreciation, Amortization, or Loss on Asset Dispositions     67,636      61,734 
Other Costs that will not Require Resources       (217)         30 
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Total Components of Net Cost of Operations that will not Require or Generate Resources     67,419      61,764 
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Total Components of Net Cost of Operations that will not Require or Generate Resources in the Current Period     79,594      76,157 
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Net Cost of Operations $   30,416  $   33,952 
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