Performance and Accountability Highlights Fiscal Year 2006 Page: 29 of 56
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GAO Performance and Accountability Highlights 2006
Our budget consists of an annual appro-
priation covering salaries and expenses,
and revenue from reimbursable audit
work and rental income. For fiscal year
2006, our total budgetary resources in-
creased by $5.7 million from fiscal year
2005. This increase consists of funds
needed to cover mandatory and uncon-
trollable costs and a one time transfer
of budgetary authority from the U.S.
Agency for International Development
(USAID) for the analysis of U.S.-funded
international basic education programs.
Our total assets were $105.6 million,
consisting mostly of property and
equipment (including the headquarters
building, land and improvements, and
computer equipment and software) and
funds with the U.S. Treasury. The largest
dollar change in our assets was in the net
value of property and equipment, which
decreased by $7 million in fiscal year
2006 as a result of normal depreciation
amounts being greater than asset pur-
chases. Total liabilities of $97.5 million
were composed largely of employees'
accrued annual leave, amounts owed to
other government agencies, accounts
payable, and employees' salaries and
benefits. The greatest change in the
liabilities is an increase in workers'
compensation liability. For fiscal year
2006 GAO engaged an independent
actuarial firm to calculate the Federal
Employees' Compensation Act (FECA)
liability. The methodology used to
calculate the liability this year more
closely reflects GAO's claims' experience
when compared to the formula provided
by Labor used in prior years.
The net cost of operating GAO during
fiscal year 2006 and fiscal year 2005
was approximately $511 million and
$506 million, respectively. Expenses for
salaries and related benefits accounted
for 79 and 78 percent of our net cost
of operations in fiscal years 2006 and
2005, respectively. Figure 4 shows how
our fiscal year 2006 costs break down by
Figure 4: Use of Fiscal Year 2006 Funds by
Percentage of total net costs
and benefits 79.2%
and hardware) 2.3%
We report net cost of operations accord-
ing to our four strategic goals, consistent
with our strategic plan. As table 2 indi-
cates, goal 2 accounted for the greatest
dollar increase in our net cost of opera-
tions from fiscal year 2005 through fiscal
year 2006. The increase is due to work
on Hurricane Katrina and Iraq as well as
continued efforts in the area of home-
land security. However, goal 1 accounted
for the largest proportion of net costs in
fiscal year 2006 (see fig.5).
Managing Our Resources
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United States. Government Accountability Office. Performance and Accountability Highlights Fiscal Year 2006, text, January 30, 2007; Washington D.C.. (digital.library.unt.edu/ark:/67531/metadc295188/m1/29/: accessed December 17, 2018), University of North Texas Libraries, Digital Library, digital.library.unt.edu; crediting UNT Libraries Government Documents Department.