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Note 15. Intra-governmental Cost and Exchange Revenue by Goal


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As required by the Government Performance and Results Act of 1993, the agency's reporting has been aligned with the following major goals presented in the 2011 – 2015 CFTC Strategic Plan.

  1. Protect the public and market participants by ensuring market integrity; promoting transparency, competition, and fairness; and lowering risk in the system
  2. Protect the public and market participants by ensuring the financial integrity of derivatives transactions, mitigation of systemic risk, and the fitness and soundness of intermediaries and other registrants
  3. Protect the public and market participants through a robust enforcement program
  4. Enhance integrity of US markets by engaging in cross-border cooperation, promoting strong international regulatory standards, and encouraging ongoing convergence of laws and regulation worldwide
  5. Promote Commission excellence through executive direction and leadership, organizational and individual performance management, and effective management of resources

The Net Cost of Operations is derived from transactions between the Commission and public entities, as well as with other federal agencies. The details of the intra-governmental costs and revenues, as well as those with the public, are as follows:

INTRA-GOVERNMENTAL COST AND EXCHANGE REVENUE BY GOAL
For Fiscal Years 2012 and 2011
  2012 2011
GOAL 1: PROTECT THE PUBLIC AND MARKET PARTICIPANTS BY ENSURING MARKET INTEGRITY; PROMOTING TRANSPARENCY, COMPETITION, AND FAIRNESS; AND LOWERING RISK IN THE SYSTEM
Intragovernmental Gross Costs $10,083,898 $8,543,266
Less: Earned Revenue (47,728) (18,783)
Intragovernmental Net Cost of Operations $10,036,170 $8,524,482
Gross Costs with the Public $49,149,593 $39,870,011
Less: Earned Revenue (17,179) (4,106)
Net Cost of Operations with the Public $49,132,414 $39,865,905
TOTAL NET COST OF OPERATIONS – GOAL ONE $59,168,584 $48,390,387

GOAL 2: PROTECT THE PUBLIC AND MARKET PARTICIPANTS BY ENSURING THE FINANCIAL INTEGRITY OF DERIVATIVES TRANSACTIONS, MITIGATION OF SYSTEMIC RISK, AND THE FITNESS AND SOUNDNESS OF INTERMEDIARIES AND OTHER REGISTRANTS
Intragovernmental Gross Costs $9,313,379 $7,715,430
Less: Earned Revenue (44,081) (16,963)
Intragovernmental Net Cost of Operations $9,269,298 $7,698,467
Gross Costs with the Public $45,394,034 $36,006,638
Less: Earned Revenue (15,867) (3,709)
Net Cost of Operations with the Public $45,378,167 $36,002,929
TOTAL NET COST OF OPERATIONS – GOAL TWO $54,647,465 $43,701,396

GOAL 3: PROTECT THE PUBLIC AND MARKET PARTICIPANTS THROUGH A ROBUST ENFORCEMENT PROGRAM
Intragovernmental Gross Costs $10,391,398 $10,794,979
Less: Earned Revenue (49,183) (23,734)
Intragovernmental Net Cost of Operations $10,342,215 $10,771,245
Gross Costs with the Public $50,648,372 $50,378,386
Less: Earned Revenue (17,704) (5,189)
Net Cost of Operations with the Public $50,630,668 $50,373,197
TOTAL NET COST OF OPERATIONS – GOAL THREE $60,972,883 $61,144,442

GOAL 4: ENHANCE INTEGRITY OF US MARKETS BY ENGAGING IN CROSS-BORDER COOPERATION, PROMOTING STRONG INTERNATIONAL REGULATORY STANDARDS, AND ENCOURAGING ONGOING CONVERGENCE OF LAWS AND REGULATION WORLDWIDE
Intragovernmental Gross Costs $1,184,054 $1,490,105
Less: Earned Revenue (5,604) (3,276)
Intragovernmental Net Cost of Operations $1,178,450 $1,486,828
Gross Costs with the Public $5,771,158 $6,954,071
Less: Earned Revenue (2,017) (716)
Net Cost of Operations with the Public $5,769,141 $6,953,356
TOTAL NET COST OF OPERATIONS – GOAL FOUR $6,947,591 $8,440,184

GOAL 5: PROMOTE COMMISSION EXCELLENCE THROUGH EXECUTIVE DIRECTION AND LEADERSHIP, ORGANIZATIONAL AND INDIVIDUAL PERFORMANCE MANAGEMENT, AND EFFECTIVE MANAGEMENT OF RESOURCES
Intragovernmental Gross Costs $4,372,163 $4,569,654
Less: Earned Revenue (20,694) (10,047)
Intragovernmental Net Cost of Operations $4,351,469 $4,559,607
Gross Costs with the Public $21,310,216 $21,325,820
Less: Earned Revenue (7,447) (2,196)
Net Cost of Operations with the Public $21,302,769 $21,323,624
TOTAL NET COST OF OPERATIONS – GOAL FIVE $25,654,238 $25,883,231
NET COST OF OPERATIONS $207,390,761 $187,559,640

 

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