SEC’s Financial Statements Page 93 GAO-12-219 SEC’s Financial Statements for Fiscal Years 2011 and 2010 FY 2010 (DOLLARS IN THOUSANDS) Intragovernmental Gross Cost Gross Cost with the Public Total SEC Programs: Enforcement $ 61,669 $ 293,782 $ 355,451 Compliance Inspections and Examinations 39,798 189,591 229,389 Corporation Finance 22,757 108,409 131,166 Trading and Markets 9,388 44,719 54,107 Investment Management 8,306 39,567 47,873 Risk, Strategy, and Financial Innovation 3,148 14,995 18,143 General Counsel 6,901 32,879 39,780 Other Program Of ces 8,432 40,171 48,603 Agency Direction and Administrative Support 22,300 106,231 128,531 Inspector General 933 4,447 5,380 Total Program Costs $ 183,632 $ 874,791 1,058,423 Less: Exchange Revenues Securities Transaction Fees 1,163,633 Securities Registration, Tender Offer, and Merger Fees 218,755 Other 468 Total Exchange Revenues 1,382,856 Net (Income) Cost from Operations $ (324,433) Intragovernmental exchange revenue was $236 thousand and $304 thousand for the scal years ending September 30, 2011 and 2010, respectively. NOTE 13. Imputed Financing A portion of the retirement bene ts provided to SEC employees is funded by OPM. In accordance with Federal accounting standards, the SEC recognizes identi ed costs paid by OPM on behalf of the SEC as an expense. The funding for this expense is re ected as imputed nancing on the Statement of Changes in Net Position. Costs paid by OPM on behalf of the SEC were $34.4 million and $36.2 million in FY 2011 and FY 2010, respectively. 148 2011 PERFORMANCE AND ACCOUNTABILITY REPORT FINANCIAL SECTION a nd 2010, respectively . NOTE 13. Imputed Financin g A portion of the retirement bene ts provided to SEC employees is funded by OPM. In accordance with Federal accountin g s tandards, the SEC reco g nizes identi ed costs paid by OPM on behalf of the SEC as an expense. The fundin g for this expense is re ected as imputed nancin g on the Statement of Chan g es in Net Position. Costs paid by OPM on behalf of the SEC were $ 34.4 million and $ 36.2 million in FY 2011 and FY 2010, res p ectivel y . 14 8 2 0 11 PERF O RMAN C E AND A CCOU NTABILITY REP O R T FINAN C IAL S E C TI ON FY 2 0 1 0 (DOLLARS IN THOUSANDS ) I ntra g overnmenta l Gross Cost Gr o ss C o st with the Public T ota l S E C Programs : E n f orcemen t $ 61 , 66 9 $ 293 , 78 2 $ 355 , 45 1 C om p liance Ins p ections and Examinations 3 9 , 79 8 1 89 , 59 1 229 , 38 9 C orporation Finance 2 2,75 7 1 08,40 9 1 31,166 T ra di n g an d M ar k et s 9 , 388 44,71 9 5 4,1 0 7 I nvestment M anagemen t 8,306 39, 5 6 7 47 ,8 7 3 Risk, S trategy, and Financial Innovatio n 3 ,14 8 1 4,99 5 1 8,143 General Counsel 6 , 901 32 , 8 7 9 39 , 7 80 O ther Program O f ce s 8, 432 40 , 17 1 48 , 603 Agency Direction and Administrative S uppor t 2 2,300 1 06,23 1 1 28,53 1 I ns p ector Genera l 933 4 ,44 7 5 , 380 T otal Program C osts $ 183,632 $ 874,79 1 1,058,423 Less: Exchan g e Revenue s Secu riti es Tr a n sac ti o n F ees 1,1 63 , 633 Securities Re g istration, Tender Offer, and Mer g er Fees 2 1 8, 755 O ther 4 68 T ota l E xc h ange R evenue s 1 , 382 , 8 5 6 Net ( Income ) C ost from O peration s $ (324,433) I ntragovernmental exchange revenue was $236 thousand and $304 thousand for the scal years ending September 30, 2011 This is trial version www.adultpdf.com . SEC’s Financial Statements Page 93 GAO- 12-219 SEC’s Financial Statements for Fiscal Years 2011 and 2010 FY 2010 (DOLLARS IN THOUSANDS) Intragovernmental Gross Cost Gross Cost with. OPM on behalf of the SEC were $34.4 million and $36.2 million in FY 2011 and FY 2010, respectively. 148 2011 PERFORMANCE AND ACCOUNTABILITY REPORT FINANCIAL SECTION a nd 2010, respectively . NOTE. (Income) Cost from Operations $ (324,433) Intragovernmental exchange revenue was $236 thousand and $304 thousand for the scal years ending September 30, 2011 and 2010, respectively. NOTE 13. Imputed