FY 2005 Performance and Financial Highlights
PERFORMANCE HIGHLIGHTS
FY 2005 PERFORMANCE RESULTS
| Status |
Number of Measures |
| Green: met performance target |
102 |
| Yellow: almost met performance target |
3 |
| Red: did not meet performance target |
10 |
Overall performance results for the Department show that of the 115 performance targets, 89 percent were at or above target, three percent slightly below target, and eight percent not on target. These results reflect better performance results than last year, when 84 percent were at or above target. Below are the performance results by strategic goal. Achieving results in each of the strategic goals furthers the Department’s mission. This summary provides a snapshot of our targeted achievements. Discussions and highlights of successes can be found in the performance discussions of each performance goal.
OBLIGATIONS AND FULL TIME EQUIVALENTS (FTEs) BY STRATEGIC GOAL
For the Period Ending September 30, 2005 and 2004
(Dollars In Millions)
| |
Percentage
Change |
FY 2005 |
FY 2004 |
| Obligations by Strategic Goal: |
|
|
|
| Strategic Goal 1: Provide the Information and Tools to Maximize U.S. Competitiveness and Enable Economic Growth for American Industries, Workers, and Consumers |
+2% |
$1,888.5 |
$1,854.0 |
| Strategic Goal 2: Foster Science and Technological Leadership by Protecting Intellectual Property, Enhancing Technical Standards, and Advancing Measurement Science |
+14% |
$2,456.5 |
$2,147.5 |
| Strategic Goal 3: Observe, Protect, and Manage the Earth’s Resources to Promote Environmental Stewardship |
+7% |
$4,064.0 |
$3,802.0 |
| Management Integration Goal: Achieve Organizational and Management Excellence |
+3% |
$ 79.2
 |
$ 77.1
|
| TOTAL OBLIGATIONS |
+8% |
$8,488.2
 |
$7,880.6
|
Full Time Equivalents (FTEs) by Strategic Goal: |
|
|
|
| Strategic Goal 1: Provide the Information and Tools to Maximize U.S. Competitiveness and Enable Economic Growth for American Industries, Workers, and Consumers |
+1% |
11,877 |
11,778 |
| Strategic Goal 2: Foster Science and Technological Leadership by Protecting Intellectual Property, Enhancing Technical Standards, and Advancing Measurement Science |
0% |
10,022 |
10,005 |
| Strategic Goal 3: Observe, Protect, and Manage the Earth’s Resources to Promote Environmental Stewardship |
0% |
11,918 |
11,868 |
| Management Integration Goal: Achieve Organizational and Management Excellence |
-3% |
292
|
310
|
| TOTAL FTEs |
0% |
34,109
|
33,961
|
FINANCIAL HIGHLIGHTS
CONDENSED BALANCE SHEETS
As of September 30, 2005 and 2004
(Dollars in Millions)
| |
Percentage
Change |
FY 2005 |
FY 2004 |
| ASSETS: |
|
|
|
| Fund Balance with Treasury |
+6% |
$ 7,041,269 |
$ 6,652,727 |
| General Property, Plant, and Equipment, Net |
+6% |
4,927,707 |
4,652,882 |
| Loans Receivable and Related Foreclosed Property, Net |
+32% |
417,509 |
317,138 |
| Accounts Receivable, Net |
-12% |
126,754 |
143,929 |
| Other |
+28% |
216,937
|
169,631
|
| TOTAL ASSETS |
+7% |
$12,730,176
|
$11,936,307
|
LIABILITIES: |
|
|
|
| Unearned Revenue |
+18% |
$ 1,287,749 |
$ 1,088,142 |
| Federal Employee Benefits |
+2% |
569,114 |
557,679 |
| Accounts Payable |
+23% |
399,957 |
325,124 |
| Accrued Grants |
+11% |
388,679 |
350,452 |
| Debt to Treasury |
+30% |
357,581 |
274,426 |
| Accrued Payroll and Annual Leave |
+10% |
351,698 |
321,114 |
| Other |
+22% |
407,211
|
333,262
|
| TOTAL LIABILITIES |
+16% |
$ 3,761,989
|
$ 3,250,199
|
NET POSITION: |
|
|
|
| Unexpended Appropriations |
+1% |
$ 4,238,321 |
$ 4,209,311 |
| Cumulative Results of Operations |
+6% |
4,729,866
|
4,476,797
|
| TOTAL NET POSITION |
+3% |
$ 8,968,187
|
$ 8,686,108
|
| TOTAL LIABILITIES AND NET POSITION |
+7% |
$12,730,176
|
$11,936,307
|
CONDENSED STATEMENTS OF NET COST
For the Years Ended September 30, 2005 and 2004
(Dollars in Millions)
| |
Percentage
Change |
FY 2005 |
FY 2004 |
| Strategic Goal 1: Provide the
Information and Tools to Maximize U.S. Competitiveness and Enable Economic Growth for
American Industries, Workers, and Consumers |
+3% |
$1,672,505 |
$1,626,669 |
| Strategic Goal 2: Foster
Science and Technological Leadership by Protecting Intellectual Property, Enhancing
Technical Standards, and Advancing Measurement Science |
+6% |
931,507 |
875,061 |
| Strategic Goal 3: Observe,
Protect, and Manage the Earth’s Resources to Promote Environmental Stewardship |
+3% |
3,708,116
|
3,617,242
|
| TOTAL NET COST OF OPERATIONS |
+3% |
$6,312,128
|
$6,118,972
|
| Total Gross Costs |
+4% |
$8,438,306 |
$8,092,700 |
| Total Earned Revenue |
+4% |
(2,126,178)
|
(1,973,728)
|
| Total Net Cost Of Operations |
+3% |
$6,312,128
|
$6,118,972
|
REVIEW OF FINANCIAL POSITION AND RESULTS
Assets
ASSETS
As of Setpember 30, 2005
| Account |
Percentage of
Total Assets |
| Fund Balance with Treasury |
55% |
| General Property, Plant, and Equipment, Net |
39% |
| Loans Receivable and Related Foreclosed Property, Net |
3% |
| Accounts Receivable, Net |
1% |
| Other |
2% |
The Department had total assets of $12.7 billion as of September 30, 2005. This represents an increase of $793.8 million (seven percent) over the previous year’s total assets of $11.9 billion. The increase is primarily the result of Fund Balance with Treasury increasing by $389 million, which primarily resulted from higher Appropriations Received of $362 million or 5.9 percent; and General Property, Plant, and Equipment (PP&E), Net increasing by $275 million, which primarily resulted from increase in Construction-Work-in-Progress of $270 million or 10.8 percent.
Liabilities
LIABILITIES
As of Setpember 30, 2005
| Account |
Percentage of
Total Liabilities |
| Unearned Revenue |
34% |
| Federal Employee Benefits |
15% |
| Accrued Grants |
11% |
| Accrued Payroll and Annual Leave |
10% |
| Debt to Treasury |
10% |
| Accounts Payable |
9% |
| Other |
11% |
The Department had total liabilities of $3.8 billion as of September 30, 2005. This represents an increase of $511.7 million (16 percent) over the previous year’s total liabilities of $3.3 billion. The increase is primarily the result of Unearned Revenue increasing by $199.6 million, which primarily resulted from increased patent and trademark application and user fees that are pending action; and the result of Debt to Treasury increasing by $83 million primarily due to increase in crab buyback program loans.
Net Cost of Operations
NET COST OF OPERATIONS BY STRATEGIC GOAL
As of Setpember 30, 2005
| Strategic Goal |
Percentage of
Net Cost |
| Strategic Goal 1 |
26% |
| Strategic Goal 2 |
15% |
| Strategic Goal 3 |
59% |
In FY 2005, Net Cost of Operations amounted to $6.3 billion, which consists of Gross Costs of $8.4 billion less Earned Revenue of $2.1 billion. Strategic Goal 1 includes Gross Costs of $2.0 billion related to providing information and tools to maximize U.S. competitiveness and enable economic growth. Strategic Goal 2 includes Gross Costs of $2.5 billion related to fostering science and technological leadership by protecting intellectual property, enhancing technical standards, and advancing measurement science. Strategic Goal 3 includes Gross Costs of $3.9 billion related to observing, protecting, and managing the Earth’s resources to promote environmental stewardship.
Other Financial Information
All other financial information such as the introduction letter from the Department’s Chief Financial Officer (CFO), financial management discussion and analysis, debt management, payment practices, the audited financial statements and other supplementary information, and the independent auditors’ report can be found in the Financial Section.
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