NATIONAL SCIENCE FOUNDATION
www.nsf.gov/publications/pub_summ.jsp?ods_key=nsf0802
FY 2007 Annual Financial Report
NSF Mission and Vision Statement/On the Cover .............................................................................i Table of Contents ..................................................................................................................................... ii A Message from the Director.................................................................................................................iv I. Management’s Discussion and Analysis
Agency Overview....................................................................................................................... I-1 The Public Benefits of a Strong Science and Technology Enterprise Organizational Structure The President’s Management Agenda Performance Highlights .......................................................................................................... I-6 Assessing Long-Term Research Management Assurances...................................................................................................... I-10 Financial Discussion and Analysis ..................................................................................... I-12 Understanding the Financial Statements Limitations of the Financial Statements Financial System Strategy Budgetary Integrity: NSF Resources and How They Are Used Research Highlights FY 2007 Results Meeting Future Opportunities and Challenges Mission and Vision
About this Report ..................................................................................................................... I-1
Key Financial Metrics
Future Business Trends and Events
II. Financials
A Message from the Chief Financial Officer.............................................................. II-1 Management’s Response to Independent Auditor’s Report FY 2007 ............. II-3
Independent Auditor’s Report and Financial Statements and Notes
Principal Financial Statements ............................................................................ II-21 Notes to the Principal Financial Statements ..........................................................II-28 Required Supplementary Stewardship Information Stewardship Investments...................................................................................II-47
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Required Supplementary Information
Budgetary Resources by Major Budgetary Accounts.............................. II-52 Other Financial Reporting Information Debt Collection Improvement Act of 1996........................................................ II-57 Cash Management Improvement Act ................................................................ II-57 III. Appendix
Deferred Maintenance ................................................................................ II-50
1 Summary of Financial Statement Audit and Management Assurances
2 Improper Payments Information Act (IPIA) Reporting ....................................... III-3 3 Management Challenges A. Inspector General’s Memorandum on FY 2008
Table 2: Summary of Management Assurances ................................................ III-1
Table 1: Summary of Financial Statement Audit ............................................... III-1
Management Challenges............................................................................. III-5
B. Director’s Response to IG’s Memo on Management Challenges
5 Acronyms................................................................................................................ III-27
4 Patents and Inventions Resulting from NSF Support........................................ III-25
and NSF Management Challenges for FY 2007 ..................................... III-15
For more information about the National Science Foundation, visit NSF’s website at www.nsf.gov. For copies of this report please send your request to Accountability@nsf.gov. We welcome suggestions on how to make this report more informative. Please provide your comments to Shirley Watt, 4201 Wilson Blvd., Arlington, VA 22230 (smwatt@nsf.gov).
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