gpo (government printing office) 2012 annual report

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  • 7/29/2019 GPO (Government Printing Office) 2012 Annual Report

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    OFFICIAL DIGITAL SECURE

    U . S . G O V E R N M E N T P R I N T I N G O F F I C E | 2 0 1 2 A N N U A L R E P O R T

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    March 15, 2013

    The Honorabe Joseph R. Biden

    The President o the Senate

    The Honorabe John A. Boehner

    The Speaker o the House o Representatives

    Sirs:

    I have the honor to transmit herewith the Annua Report o the U.S. Government Printing Oce (GPO)

    or the sca year ending September 30, 2012. The report contains the resuts o an audit o GPOs

    nancia statements conducted by an independent accounting rm.

    Respectuy submitted,

    DAVITA VANCE-COOKS

    Acting Pubic Printer

    U. S . G O V E R N M E N T P R I N T I N G O F F I C E

    K e e p i n g A m e r i c a I n f o r m e d I w w w . g p o . g o v

    Davita Vance-Cooks

    Act ing Publ ic Pr inter of the Uni ted States

    7 3 2 N o r t h C a p i t o l S t r e e t , N W , W a s h i n g t o n , D C 2 0 4 0 1 - 0 0 0 1 | d v a n c e c o o k s @ g p o . g o v

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    A MESSAGE ROM THE ACTING PUBlIC PRINTER

    In Y 2012, backed by a customer-

    oriented strategic pan, we buit on

    the successes o the previous year by

    continuing our program o cutting

    costs whie introducing an array onew oerings, a designed to show

    GPOs ongoing commitment to serving

    as the OICIAl, DIGITAl, SECURE

    provider o the edera Governments

    inormation needs.

    We began the year by competing

    an agency-wide empoyee buyout, an

    action that resuted in an 11% reduction

    in stang and an annua savings o

    approximatey $24 miion. With ewer

    than 1,900 empoyees, GPO is now at

    its eanest stang eve in more than

    a century. This, in combination withother eements o our cost containment

    program, returned our overhead costs

    to 2008 eves. In 2012, we submitted

    a fat appropriations request to

    Congress or Y 2013, underscoring our

    determination to do more with ess in

    heping the Government meet todays

    sca reaities.

    I am peased to report that GPOs

    businessike operations and its record

    o savings or the taxpayer resuted in

    the generation o $5.2 miion in net

    income or Y 2012 (beore postingthe required ong-term workers

    compensation actuaria adjustment, as

    determined by the labor Department),

    exceeding our comparabe net income

    rom the year beore. The agency

    posted na net income o $2.9

    miion or Y 2012 ater recording the

    workers compensation adjustment.

    One o the most signicant

    demonstrations o doing more in

    2012 was our introduction o a serieso mobie Web appications, or apps,

    aowing the pubic to access the

    Government inormation they want and

    need rom a broad range o mobie

    devices. Eary in the sca year we

    introduced the Congressional Member

    Guideapp, and we assisted the library

    o Congress in its deveopment o a

    Congressional Recordapp or the iPad.

    We then made theBudget o the U.S.

    Governmentavaiabe as a mobie

    app, which earned an award rom the

    Center or Digita Government. Withthe Oce o the edera Register we

    produced thePresidential Documents

    app. Recenty, we introduced a mobie

    app or the 2012Plum Book, the

    popuar isting o poicy and supporting

    positions in the Government.

    GPOs edera Digita System

    (Dsys), our one-stop, no-ee Web site

    providing pubic access to the ocia

    inormation products o a three

    branches o the Government, continues

    to grow. Today we have more than

    800,000 individua tites accessibe viaDsys, and we are seeing more than

    37 miion documents retrieved each

    month. By the end o the year Dsys

    surpassed its 400 miionth document

    retrieva.

    During the year, we congured

    the Dsys coection o House o

    Representatives bis to make it

    avaiabe in XMl buk data ormat

    beginning with the 113th Congress.

    This new oering joins other GPO XMl

    buk data es, incuding the FederalRegisterand reated documents o

    the executive branch. In addition to

    the es made avaiabe through buk

    downoad, we continue to ensure the

    authenticity o a inormation provided

    on Dsys by making avaiabe digitay

    signed copies in PD ormat, which

    is the ocia, authentic version that

    matches the printed document.

    Digita oerings now ead the way

    in our edera Depository library

    Program, which this year observes

    the bicentennia o its roots in theeary days o our Repubic. Now the

    Governments ongest-running pubic

    inormation access program, the DlP

    provides ecient, equitabe access to

    the ocia inormation products o the

    Congress and edera agencies through

    our partnerships with approximatey

    1,200 ibraries across the Nation,

    about 3 per congressiona district.

    We conducted a nationwide State

    orecast study o the program in 2012,

    the resuts o which wi serve as a

    bueprint or a more fexibe, digitaDlP o the uture.

    In GPOs pubication and

    inormation saes program, we now

    oer the pubic inormation as e-books

    in a growing range o tites through

    partnerships with Googe, Appe, and

    Barnes and Nobe, and we provide

    The Government Printing Office (GPO) is transforming itself from a traditional ink-

    on-paper operation to a digital information platform. While producing the officia

    printed products of the Government remains an important part of our business, weare using technology to move away from a print-centric business model and toward a

    content-centric focus, which today serves as the foundation for an increasing variety

    of digital and secure products and services.

    2 G P O 2 0 1 2 A N N U A L R E P O R

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    In sca year 2012,

    GPO continued our

    program o cutting

    costs whie introducingan array o new

    oerings, a designed

    to show GPOs ongoing

    commitment to serving

    as the OICIAl,

    DIGITAl, SECURE

    provider o theedera Governments

    inormation needs.

    a broad variety o e-book consuting

    expertise or edera agencies in

    determining the most ecient and cost-

    eective media or disseminating their

    inormation to the pubic.

    Our Security and Inteigent

    Document business unitthe source

    o U.S. passports eaturing secure

    eectronic components, as we as the

    soe Government provider o secure

    credentias with advanced smart card

    eaturesmanuactured more than 10

    miion passports and 800,000 credentiacards in 2012. We aso expanded card

    production capacity at our remote

    production site in Stennis, MS. late

    in the year we were tasked by the

    Department o State with deveoping

    the capabiity to begin producing the

    next generation passport in 2015, a job

    that wi require signicant investment

    and training.

    Highights o GPOs pant operations

    in 2012 incuded production o the

    broad variety o work required or

    the 2013 Presidentia Inauguration

    as we as the high-proe 2012

    Report on Human Tracking or the

    Department o State, aong with the

    rapid turnaround work produced daiy

    to support egisative operations in

    Congress and reguatory processesthroughout the executive branch.

    But the vast majority o the

    Governments inormation product

    needsneary 75%were produced

    in 2012 by thousands o sma business

    concerns across the Nation in the

    printing and inormation product

    industry who work with us in one o

    the Governments ongest-standing

    partnerships with private industry.

    During the year, the Joint Committee

    on Printing requested a study by the

    Government Accountabiity Oce o

    how taxpayer savings can be increased

    by bringing more print procurement

    into this program, and we are assisting

    in this important work.

    or the rst time ever, in 2012

    we participated in the Government-

    wide edera Viewpoint Survey,conducted by the Oce o Personne

    Management. Our participation rate o

    70% was the highest we have ever had

    or an empoyee survey, higher than

    the Government-wide rate o 42% and

    twice the response rate o the interna

    empoyee survey we conducted in

    G P O 2 0 1 2 A N N U A L R E P O R T 3

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    2010. Overa, the responses to the2012 survey questions were much more

    positive than in GPOs 2010 survey.

    But the resuts aso show that we sti

    have work to do in identiying and

    impementing measures to address a

    number o empoyee-reated issues,

    incuding hiring and promotion

    practices.

    As Y 2012 drew to a cose,

    the Nationa Academy o Pubic

    Administration competed its

    independent study o GPO that

    had been requested by Congress.The resuting report provides an

    exceent overview o the agency

    and the inormation poicy and

    technoogy environments in which we

    now operate. It aso oers a number

    o useu recommendations or the

    uture o Government operations in

    the digita age.

    A MES SAGE ROM THE ACTING PUBlIC PRINTER

    like previous studies

    o the GPO thathave uphed our

    business mode, the

    NAPA report states

    in the digita age,

    GPOs core mission

    o authenticating,

    preserving, anddistributing edera

    inormation remains

    criticay important to

    American democracy

    4 G P O 2 0 1 2 A N N U A L R E P O R

    Previous studies have uphed ourbusiness mode and we are peased

    to see that this report does so as

    we, specicay stating that in the

    digita age, GPOs core mission

    o authenticating, preserving, and

    distributing edera inormation

    remains criticay important to

    American democracy. This view

    underscores our transormation as

    the OICIAl, DIGITAl, SECURE

    provider o the edera Governments

    inormation needs. Most important o

    a, it commends the dedicated andexpert eorts o the men and women

    who work here, who daiy carry out

    the work that is so vita to Keeping

    America Inormed.

    DAVITA VANCE-COOKS

    Acting Public Printer

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    G P O 2 0 1 2 A N N U A L R E P O R T 5

    Aong with saes o pubications in

    digita and tangibe ormats to the

    pubic, GPO supports openness

    and transparency in Government byproviding permanent pubic access

    to edera Government inormation

    at no charge through our edera

    Digita System (hp://www.dsys.

    gov), which today makes more than

    800,000 edera tites avaiabe onine

    rom both GPOs servers and inks to

    servers in other agencies, and sees

    more than 37 miion documents

    downoaded every month. GPO aso

    provides pubic access to Government

    inormation through partnerships

    with approximatey 1,200 ibrariesnationwide participating in the edera

    Depository library Program. In addition

    to GPOs Web site, hp://www.gpo.

    gov, the agency communicates with

    the pubic routiney via Twitter w.

    om/USGPO, YouTube hp://www.

    youub.om/us/gpopn, and

    acebook hp://www.book.om/

    USGPO.

    GPOs Hsoy

    GPO rst opened its doors or business

    on March 4, 1861, the same dayAbraham lincon was inaugurated as

    the 16th President. Its mission can be

    traced to the requirement in Artice

    I, section 5 o the Constitution that

    each House sha keep a journa o

    its proceedings and rom time to time

    pubish the same.

    GPO has produced the ocia

    version o every great American statepaperand an uncounted number o

    other Government pubicationssince

    President lincons time, incuding the

    Emancipation Procamation, Socia

    Security cards, Medicare and Medicaid

    inormation, census orms, tax orms,

    citizenship orms, miitary histories

    ranging rom the Ofcial Records o

    the War o the Rebellion to the atest

    accounts o our orces in Aghanistan,emergency documents ike the ration

    cards and the Buy Bonds posters

    used during Word War II, the Warren

    Commission Report on President

    Kennedys assassination, the Watergate

    transcripts, the 9/11 Commission

    Report, Presidentia inaugura addresses,

    GPO is the Oicial,DiGital,SecUre resource for producing, procuring, cataloging,

    indexing, authenticating, disseminating, and preserving the official information products

    of the Federal Government. The agency is responsible for the production and distributionof information products for all three branches of the Government, including the official

    publications of Congress and the White House, U.S. passports for the Department of State,

    and the official publ ications of other Federal agencies and the courts. Total GPO employment

    today is about 1,900.

    THE U.S. GOVERNMENT PRINTING OICE (GPO)

    GPOs missioncan be traced to

    the requirement

    in Artice I,

    section 5 o the

    Constitution that

    each House sha

    keep a journa oits proceedings

    and rom time to

    time pubish the

    same.

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    6 G P O 2 0 1 2 A N N U A L R E P O R

    Supreme Court opinions, and the great

    acts o Congress that have shaped our

    society. A these as we as miions

    o other documents rom the historic

    to the humbe have been produced

    by GPO or use by Congress, edera

    agencies, and the pubic.

    thnoogy tnsomon GPO

    GPO has continuay transormed itse

    throughout its history by adapting to

    changing technoogies. In the ink-on-

    paper era, this meant moving romhand-set to machine typesetting, rom

    sower to high-speed presses, and

    rom hand to automated bookbinding.

    These changes were signicant or their

    time. Yet they pae by comparison with

    the transormation that accompanied

    GPOs incorporation o eectronic

    inormation technoogies, which began

    50 years ago in 1962 when the Joint

    Committee on Printing directed the

    agency to deveop a new system o

    computer-based composition. That

    order ed to the deveopment o GPOs

    rst eectronic photocomposition

    system, which by the eary 1980s had

    suppanted machine-based hot meta

    typesetting, resuting in unprecedented

    savings in congressiona and agency

    printing costs. oowing the passage

    o the GPO Eectronic InormationAccess Enhancement Act in 1993,

    the databases generated by GPOs

    composition system were upoaded

    to the Internet via GPOs rst Web

    site, GPO Access. Those unctions

    continue today with GPOs edera

    Digita System on a more compex and

    comprehensive scae.

    As a resut o those sweeping

    technoogy changes, GPO is now un-

    damentay dierent rom what it was

    as recenty as a generation ago. The

    agency is smaer, eaner, and equipped

    with digita production capabiities

    that are the bedrock o the inormation

    systems reied upon daiy by Congress,

    edera agencies, and the pubic to en-

    sure open and transparent Government

    in the digita era. GPOs technoogy

    transormation is continuing with the

    deveopment o new ways o deiver-ing Government inormation, incuding

    apps, and buk data downoad es.

    GPO Hsoy exhb

    In 2012, GPOs history exhibitopened

    a year earier in observance o the

    agencys 150th anniversarywas

    rereshed and updated to eature

    machine typesetting, ocusing on the

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    G P O 2 0 1 2 A N N U A L R E P O R T 7

    Monotype and linotype technoogies

    that GPO used rom 1904 to 1985 to

    produce the ocia pubications o

    Congress and edera agencies. The

    agency has on dispay a inotype

    machine that was used during Word

    War I by Genera Pershings mobie

    headquarters in Europe to issue genera

    orders, aong with other machinery

    and the products they were used to

    produce. Videos enhance the dispay

    by expaining how linotype and

    Monotype machines worked and theimpact they had on the wordwide

    dissemination o inormation. The

    exhibit coincided with the wordwide

    reease o an independent m

    Linotype: The Filmthat prominenty

    eatures the roe payed by this

    technoogy at GPO.

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    8 G P O 2 0 1 2 A N N U A L R E P O R

    or the Cerk o the House, the

    Secretary o the Senate, and thecommittees o the House and the

    Senate, we produce the documents and

    pubications required by the egisative

    and oversight processes o Congress,

    incuding the daiyCongressional

    Record, bis, reports, egisative

    caendars, hearings, committee prints,

    and documents, as we as stationery,

    ranked enveopes, and other materias

    such as memorias and condoence

    books, programs and invitations, phone

    books, and the other products needed

    to conduct business o Congress.

    The agency aso detais expert sta

    to support the inormation product

    requirements o House and Senate

    committees and congressiona oces

    such as the House and Senate Oces

    o legisative Counse.

    Today the activities associated with

    creating congressiona inormation

    databases comprise the vast majority

    o the work unded by the agencys

    annua Congressiona Printing and

    Binding Appropriation. In additionto using these databases to produce

    printed products as required by

    Congress, GPO upoads them to the

    Internet via Dsys, and they are the

    source o the apps and other advanced

    products the agency produces or

    congressiona inormation. GPOs

    advanced digita authentication system,

    supported by pubic key inrastructure

    (PKI), is an essentia componentor assuring the digita security o

    congressiona documents.

    GPOs congressiona inormation

    systems aso orm the basic buiding

    bocks o other inormation systems

    supporting Congress. The agencys

    congressiona inormation databases

    are provided directy to the library

    o Congress to support its THOMAS

    systemand the new Congress.gov

    systemas we as the egisative

    inormation systems the library

    makes avaiabe to House and Senate

    oces. GPO and the library are aso

    coaborating today on the digitization

    o previousy printed documents,

    such as the Congressional Record, to

    make them more broady avaiabe

    to Congress and the pubic; the

    deveopment o a new process or

    updating the digita edition o the

    Constitution Annotated; and expanding

    the avaiabiity o House bi data in

    XMl buk data ormat.

    GPO cus h cos

    o congsson Wok

    The use o eectronic inormation

    technoogies by GPO has been a

    principa contributor to owering

    the cost, in rea economic terms, o

    congressiona inormation products.

    In Y 1980as the agency began

    repacing machine-based hotmeta typesetting with eectronic

    photocompositionthe annua

    Congressiona Printing and Binding

    Appropriation was $91.6 miion, the

    equivaent in todays doars o $255.9

    miion. By comparison, approved

    unding or the Y 2012 Congressiona

    Printing and Binding Appropriation

    was $90.6 miion, a reduction o neary

    66% in constant doar terms.

    Productivity increases resuting

    rom technoogy have enabed GPO

    to make substantia reductions in

    stang requirements whie continuing

    to improve services to Congress.

    In 1980, tota GPO empoyment was

    approximatey 6,450. Today, the agency

    has about 1,900 empoyees on board,

    representing a reduction o 4,550, or

    more than 70%. Todays is the smaest

    workorce at GPO o any time in the

    past century, yet output or Congress

    has expanded to incude both print

    and mutipe digita ormats, with

    vasty superior abiity to reach a argerportion o the pubic than ever beore.

    congsson apps

    In 2012, GPO introduced its rst app,

    theMobile Member Guide, which

    provides the pubic with quick, easy

    access to inormation on Members o

    the 112th Congress. The app eatures

    ocia biographica inormation or

    GPO AND CONGRESS

    Information is the lifeblood of the congressional process. Bills, amendments, resolutions

    hearings, committee reports, committee prints, and the record of floor proceedingsal

    these are essential to the conduct of legislative business on Capitol Hill. Without themcongressional business would grind to a halt. To produce congressional products under the

    close guidance and control of the House and Senate is why GPO was originally established

    and this work continues as the agencys primary mission. GPOs Official Journals of

    Government business unit is the principal liaison between the agency and Congress for

    congressional information products.

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    G P O 2 0 1 2 A N N U A L R E P O R T 9

    Members o the House and Senate,

    contact inormation or their oces in

    Washington, DC, and home districts,

    counties and zip codes that each

    House Member represents, and inks

    to House Members and Senators Web

    sites. Other eatures incuded Member

    proes with their picture, party

    aiation, hometown, home state, and

    inormation on their ength o service.

    TheMobile Member Guideaowed

    users to browse or Members o

    Congress by ast name, state, chamber,

    or party.

    GPO aso coaborated with the

    library o Congress (lOC) or the

    creation o an iPad app or thedaiyCongressional Record. The

    app was requested by the House o

    Representatives Committee on House

    Administration. GPO provided lOC

    with Congressional Recordes in

    both text and PD ormats aong with

    associated metadata, which lOC used

    in deveoping the app.

    late in the year, GPO made

    United States Policy and Supporting

    Positionsor thePlum Book, as it

    is popuary knownavaiabe in

    print, onine, and or the rst time

    as an app. Pubished by the House

    Oversight and Government Reorm

    Committee and the Senate Committee

    on Governmenta Aairs aternatey

    ater each Presidentia eection since

    1952, thePlum Bookis used to

    identiy Presidentia appointed and

    other positions within the edera

    Government. The current edition ists

    more than 8,000 edera civi service

    eadership and support positions in

    the executive and egisative branchesthat may be subject to appointment.

    GPOsPlum Bookapp aows users

    to view the pubication in an easy

    to use mobie ormat and search the

    pubication by agency, position tite,

    ocation, appointment type, pay pan

    and eve, tenure and term expiration,

    and vacancy.

    XMl Buk D Downod

    At the direction o the House

    Appropriations Committee, and in

    support o the task orce on buk data

    estabished by House Report 112-511,

    GPO has begun making House bis in

    XMl ormat avaiabe through GPOs

    Dsys Buk Data repository, beginning

    with the 113th Congress. The new

    oering joins other GPO XMl buk

    data es made avaiabe to the pubic,

    incuding the edera Register, Code

    o edera Reguations, and reated

    documents o the executive branch.

    Making Government inormation

    avaiabe in XMl permits data to be

    reused and repurposed not ony orprint output but or conversion into

    ebooks, mobie web appications,

    and other orms o content deivery,

    incuding data mashups and other

    anaytica toos by third party providers,

    which contributes to openness and

    transparency in Government. or users

    or whom access to the authenticated

    versions o congressiona and other

    GPO not ony

    uses congressiona

    inormation databases

    to produce printed

    products but upoadsthe data to Dsys.

    The data is aso

    used to produce

    apps and other

    advanced products

    or congressiona

    inormation.

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    10 G P O 2 0 1 2 A N N U A L R E P O R

    Government pubications is criticayimportant, GPO makes avaiabe

    digitay-signed es in PD ormat that

    match the ocia printed document.

    GPO is currenty working with the

    library o Congress to make additiona

    inormation avaiabe in XMl buk data

    ormat.

    inugu Wok

    GPO started production in 2012 on the

    requirements or the 2013 Presidentia

    Inauguration, under the direction o

    the Joint Congressiona Committee onInaugura Ceremonies. The agency

    designed and produced approximatey

    80 dierent products or the event,

    incuding invitations, tickets, signs,

    pins, and other items that supported

    the organization and conduct o the

    inaugura ceremonies, incuding the

    production o secure credentias or the

    event.

    Pn OponsGPOs Pant Operations business unit,

    which is primariy responsibe or

    congressiona products (as we as the

    daiy edera Register and associated

    products), attained the IDEAiance

    Master Printer certication in 2012 or

    demonstrating the abiity to compy

    with G7s proo-to-print process

    and compying with internationa

    standards that are used industry-wide.

    Pant operations aso received the

    certication o Graphic Arts Industry

    Coor Viewing Standard. These newcertications compement pant

    operations institutiona membership

    with the library Binding Institute,

    which ocuses on high quaity

    production or bookbinding and

    adherence to ibrary binding standards.

    During the year, progress continued

    on the deveopment o the pants new

    XMl-based composition system.

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    The Y 2013 Budget

    app provides users

    with access to the

    text and images othe Y 2013 budget

    package, incuding th

    Budget Message o th

    President, inormation

    on the Presidents

    priorities, and budget

    overviews organizedby agency.

    GPOs digita systems support

    key edera agency pubications,

    incuding the annuaBudget o the U.S.

    Governmentand, most importanty,

    theFederal Registerand associated

    products, which the agency aso

    produces. As it does or congressiona

    documents, GPOs advanced digitaauthentication system, supported by

    PKI, assures the digita security o

    agency documents.

    GPOs Ocia Journas o

    Government business unit acts as

    the iaison between the Oce o the

    edera Register and the agency, whie

    the Pant Operations business unit

    provides in-pant production services

    or these requirements. The agencys

    Customer Services business unit

    maintains iaison with edera agencies

    and arranges or the production otheir requirements through either Pant

    Operations or contracting out to the

    private sector printing and inormation

    product industry.

    apps o d agns

    In 2012, GPO made theBudget o the

    U.S. Governmentavaiabe or the rst

    time as a mobie app. The FY 2013

    Budgetapp provides users with access

    to the text and images o the Y 2013

    budget package, incuding the Budget

    Message o the President, inormationon the Presidents priorities, and budget

    overviews organized by agency. It

    aso provides inks to Dsys where

    summary tabes and additiona books

    o theBudget, incuding theAnalytical

    Perspectives, Appendix, and Historical

    Tablesare avaiabe. The Y 2013

    Budget app had more than 53,000 visits

    in the rst 24 hours. GPO was honored

    or the deveopment o the app by

    the Center or Digita Government,

    receiving a Digita Government

    Achievement Award which recognizedoutstanding websites and appications

    deveoped by edera, state, and oca

    Government agencies. In addition to

    the app, the agency made theBudget

    o the U.S. Governmentavaiabe on

    Dsys, on a CD-ROM, and in print.

    GPO worked with the Oce o the

    edera Register (OR) o the Nationa

    GPO AND EDERAl AGENCIES

    Federal agencies are major producers of information in the

    United States, and access to Government information is

    vital to our economy and society. The business and financialcommunities, agricultural workers, scientists and engineers,

    first responders, students, teachers, health care workers

    these and a wide range of professions rely every day on

    information generated by Federal agencies with a diverse

    range of missions. So, too, do Federal agencies and the

    public rely on a growing variety of secure credentials issued

    by Federal agencies, from travelers holding U.S. passports

    to frequent U.S. border crossers, Medicare beneficiaries in

    Puerto Rico, and other users.

    G P O 2 0 1 2 A N N U A L R E P O R T 11

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    12 G P O 2 0 1 2 A N N U A L R E P O R

    Archives and Records Administration

    in 2012 to deveop an app based on

    theDaily Compilation o Presidential

    Documents, which is eatured on

    Dsys. The app is part o both

    agencies eorts to support the White

    Houses digita strategy or the edera

    Government by ensuring the American

    peope have access to Government

    inormation on any device. The

    Presidential Documentsapp incudes

    the Presidents executive orders,

    speeches, statements, communications

    to Congress and edera agencies,

    approved acts, nominations

    submitted to the Senate, White House

    announcements, and White Housepress reeases. It has user-riendy

    search capabiities aowing users to

    access content about the President by

    searching by date, category, subject, or

    ocation, which incudes a map eature.

    This is the rst time GPO has enabed

    an app with a geoocation eature

    providing users with access to the most

    recent content near their ocation.

    2012 tkng n Psons rpo

    GPOs pant produced the 2012

    Trafcking in Persons Reportor theDepartment o State (DOS). Acting

    Pubic Printer Davita Vance-Cooks

    and some GPO empoyees attended

    a reception at DOS and presented

    Secretary o State Hiary Cinton with a

    bound copy o the report.

    Psspos nd Su cdns

    One o GPOs principa products is the

    U.S. passport, which the agency has

    produced or the Department o State

    since 1926. At one time no more than a

    conventionay printed document, since

    2005 passports have incorporated a

    digita chip and antenna array capabe

    o carrying biometric identication

    data, which with other security printing

    eatures has transormed this document

    into the most secure identication

    credentia obtainabe. GPO has

    aso deveoped a ine o secure

    identication smart cards to supportthe credentiaing requirements o

    edera agencies. The agencys secure

    credentia unit has been certied as

    the ony government-to-government

    provider o credentias meeting the

    requirements o Homeand Security

    Presidentia Directive 12 (HSPD-12).

    Both passports and smart cards are

    handed by the agencys Security and

    Inteigent Documents business unit.

    In 2012, GPO achieved the

    miestone o producing the 75 miionth

    eectronic passport. GPO produces

    the passport at the agencys secure

    production aciities in Washington,

    DC, and remotey at the Stennis

    Space Center in MS. Both o these

    aciities are ISO 9001-certied,

    signiying they operate word-cass

    production capabiities consistent withinternationay-recognized standards.

    Aso in 2012, GPO awarded two

    contracts or the covers o the U.S.

    passport oowing a competitive

    procurement process. As part o the

    process, companies had to meet the

    internationa standards estabished by

    the United Nations Internationa Civi

    Aviation Organization. A prominent

    eature o the new contracts is their

    incusion o U.S.-based sources. The

    contracts are or up to ve years. At the

    end o the year, the agency receiveddirection rom the Department o

    State to proceed with the necessary

    investment in equipment and

    inrastructure to begin producing the

    next generation passport in 2015.

    GPO aso works with many edera

    agencies to produce secure credentias.

    The agency produced a specia events

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    G P O 2 0 1 2 A N N U A L R E P O R T 13

    credentia or the edera Bureau oInvestigation to be used by pubic

    saety and security personne at Super

    Bow XlVI in Indianapois, IN. Another

    card introduced in 2012 was the

    Goba Entry Card or the Department

    o Homeand Securitys Trusted

    Traveer Program, to expedite customs

    processing or Americans returning

    rom abroad. GPO aso produces

    other border crossing cards or the

    DHS, Medicare cards or Puerto Rico,

    cards or the D.C. Government, and

    identication cards or DHS that compywith HSPD-12 standards. During the

    year, the agency was approved by the

    Joint Committee on Printing to expand

    card production operations to its

    remote aciity in Stennis, MS. This new

    production capabiity wi be brought

    onine in 2013.

    GPO n Pnshp wh indusyOther than congressiona and

    inherenty governmenta work

    such as theFederal Register, the

    Budget, and secure and inteigent

    documents, GPO produces virtuay

    a other edera agency inormation

    product requirements via contracts

    in partnership with the private sector

    printing and inormation product

    industry. Excuding security and

    inteigent documents, the agencys

    Customer Services business unit

    operation contracts out approximatey

    75% o a work sent to the agency

    or productioncurrenty amounting

    to more than $340 miion annuay

    rom Washington, DC, as we as rom

    15 regiona oces around the United

    States.

    This system is one o theGovernments ongest running and

    most successu programs o utiizing

    the private sector, which is represented

    by more than 16,000 individua rms

    registered to do business with GPO,

    the vast majority o whom are sma

    businesses averaging 20 empoyees

    per rm. Contracts are awarded on

    a purey competitive basis; there

    are no set-asides or preerences in

    contracting other than what is specied

    in aw and reguation, incuding a

    requirement or Buy American. Thispartnership provides great economic

    opportunity or the private sector.

    During the year, the Joint Committee

    on Printing requested the Government

    Accountabiity Oce to review

    opportunities to expand the voume

    o edera agency printing work

    contracted out to the private sector.

    GPO is participating in this study.

    GPO produced a specia

    events credentia or

    the edera Bureau o

    Investigation to be used by

    pubic saety and security

    personne at Super Bow XlVI

    in Indianapois, IN. Another

    card introduced in 2012 was

    the Goba Entry Card or the

    Department o Homeand

    Securitys Trusted Traveer

    Program, to expedite customs

    processing or Americans

    returning rom abroad.

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    14 G P O 2 0 1 2 A N N U A L R E P O R

    d Dposoy lby Pogm

    A key mechanism or this purpose is

    the edera Depository library Program

    (DlP), whose egisative antecedents

    date to 1813. Across those years,

    depository ibraries have served as

    critica inks between We the Peope

    and the inormation made avaiabe by

    edera Government. GPO provides

    the ibraries with inormation products

    in digita and, in some cases, tangibeormats, and the ibraries in turn make

    these avaiabe to the pubic at no

    charge whie providing additiona

    hep and assistance to depository

    ibrary users. The program today

    serves miions o Americans through a

    network o approximatey 1,200 pubic,

    academic, aw, and other ibraries

    ocated across the Nation, averaging

    neary 3 per congressiona district.

    The DlP is supported by a

    cataoging and indexing unit within

    GPO, in accordance with requirements

    estabished by the U.S. Code. An

    associated program operated by GPO

    is in ument o an internationa

    treaty. Under it, the agency distributes

    certain edera pubications to other

    governments abroad as designated

    by the library o Congress. In return,

    they send the library their ocia

    pubications, which the library then

    makes avaiabe or the use o Congress

    and the pubic. The DlP is managed

    by GPOs library Services and Content

    Management business unit.

    In 2012, edera depository ibraries

    connected their patrons to a historic

    document commemorating the 100th

    anniversary o the sinking o the

    Titanic in Apri. libraries provided

    access to the Senate hearing report thatinvestigated the sinking o the Titanic

    and other reevant documents that are

    part o their ibrary coections.

    A major DlP eort during the year

    was the State orecasting Project, a

    coaborative research project between

    GPO and depository ibraries, which

    surveyed a depository ibraries to

    assess the current conditions o the

    program. Primary issues identied in

    the survey incuded budget constraints,

    use o physica space, stang, and

    coection scope changes. GPO received

    responses rom 802 depository ibraries

    representing a 50 states, DC, American

    Somoa, Guam, and the U.S. Virgin

    Isands. Resuts rom this initiative wi

    be used as a bueprint or deveoping a

    new nationa pan or the uture o the

    DlP in the digita age.

    During the year, the agencys library

    Services and Content Management

    business unit started using an

    elearning too, aowing GPO to

    conduct virtua training and host virtua

    meetings with members o the DlP

    nationwide. In turn, ibraries across the

    country can improve their assistance

    to the pubic in using Dsys to access

    Government inormation. This too aso

    aows GPO to customize training or

    specic audiences, record the training

    or uture use, and enhance training

    with onine discussions.

    d Dg Sysm (Dsys)

    A major component o the DlPis Dsys, which now provides the

    majority o congressiona and edera

    agency content to the program or

    pubic access. This system has reduced

    the cost o providing pubic access to

    Government inormation signicanty

    when compared with print, whie

    expanding pubic access dramaticay

    through the Internet. The system is

    managed by GPOs Programs, Strategy,

    and Technoogy business unit.

    In 2012, GPO took ofine its rst

    Web presence, GPO Access, aunchedoriginay in 1994, and as a resut pubic

    utiization o Dsys has increased

    substantiay, growing to more than 400

    miion document retrievas by the end

    o the sca year. Currenty, the system

    provides access to more than 800,000

    individua tites rom a three branches

    o the Government, the ony system o

    its kind in operation today.

    GPO is continuay adding

    coections to Dsys to provide

    increased pubic access to Government

    inormation. In 2012, the agency

    had the opportunity to make audio

    content avaiabe or the rst time

    on Dsys. The Nationa Archives and

    Records Administration turned to GPO

    to host the audio tape recordings o

    communications between the White

    House and Air orce One oowing

    GPO AND OPEN, TRANSPARENT GOVERNMENT

    Producing and distributing the official publications and

    information products of the Federal Government fulfills an

    informing role originally envisioned by the Founders, both inthe Constitution and when James Madison later said:

    A popular Government without popular information, or

    the means of acquiring it, is but a Prologue to a Farce

    or a Tragedy, or perhaps both. Knowledge will forever

    govern ignorance, and a people who mean to be their

    own Governors, must arm themselves with the power

    which knowledge gives.

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    G P O 2 0 1 2 A N N U A L R E P O R T 15

    the assassination o President John .

    Kennedy on November 22, 1963. As a

    resut o hosting the audio recordings,Dsys achieved a record number o

    visits to the site over a ve-day period.

    The number o edera courts

    participating in GPOs piot project with

    the Administrative Oce o the U.S.

    Courts to make edera court opinions

    avaiabe to the pubic via Dsys

    increased rom 3 in 2011 to 29 in 2012.

    The coection now contains neary

    600,000 opinions and had more than

    40 miion downoads in 2012, making

    it the ourth most popuar coection

    on Dsys. At the end o the year, GPO

    received approva rom the Judicia

    Conerence o the United States to

    make opinions avaiabe rom a o the

    remaining edera courts.

    During the year, deveopment was

    competed to provide access to a ner

    eve o granuarity or the digitized

    U.S. Statutes at large 1951-2000

    coection made avaiabe via Dsys, a

    joint project o the library o Congress

    and GPO to make more historicapubications avaiabe digitay. The

    additiona eve o granuarity wi aow

    or enhanced search and access to this

    coection. This enhancement wi be

    avaiabe to the pubic in eary 2013.

    An Dsys appication programming

    interace (API) was deveoped in 2012

    that provides services or deveopers

    and webmasters to programmaticay

    access content and metadata on Dsys

    in a predictabe way. A link Service was

    made avaiabe that enabes embedded

    inks to be created to content and

    metadata rom 13 Dsys coections.

    The capabiity to accept and dispay

    XMl or the Dsys Congressiona

    Reports coection, and to prepare

    reports in this ormat, was enabed

    in 2012. This wi provide access to

    congressiona reports deveoped in

    XMl in addition to the PD and text

    (ASCII) ormats that are currentyavaiabe. GPO has aready enabed this

    capabiity or the Congressiona Bis

    coection, which is made avaiabe in

    text, PD, and XMl ormats.

    inay, the capabiity or content

    to be ingested into Dsys in buk and

    without the need or deveopment

    resources was enabed in 2012. This

    eature streamines the process or

    submitted content and metadata to be

    ingested by the system and avaiabe

    based on a set o standard guideines.

    The eature supports eorts to increase

    the amount o content in Dsys by

    making it quicker and easier or

    content owners to have their content

    avaiabe through Dsys. Content rom

    the Department o the Treasury was the

    rst to be ingested into Dsys through

    this streamined standard submission

    eature.

    ... pubic utiization o

    Dsys has increased

    substantiay, growing to

    more than 400 miion

    document retrievas bythe end o the sca

    year. Currenty, the

    system provides access

    to more than 800,000

    individua tites rom a

    three branches o the

    Government, the onysystem o its kind in

    operation today.

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    16 G P O 2 0 1 2 A N N U A L R E P O R

    GPO ahvs Svngs

    n inomon Dssmnon

    In Y 1995, the year that GPOs

    provision o onine access toGovernment documents via the

    Internet debuted, the cost o printing

    and distributing miions o copies

    o printed pubications to edera

    depository ibraries nationwide was

    $17.6 miion, the equivaent o neary

    $26 miion in constant doars. or

    Y 2012, GPO unded that unction

    at $9.7 miion, a reduction o more

    than 62% in rea economic terms.

    Aong with occasiona appropriations

    to GPOs Revoving und and reated

    unding, GPO has used the savingsrom reduced printing and distribution

    costs to pay or the estabishment and

    operation o its onine inormation

    dissemination programs, rst through

    GPO Access(1994-2009) and then

    through Dsys. This eort has achieved

    signicant savings or the taxpayers

    whie exponentiay expanding pubic

    access to Government inormation.

    Pubon nd

    inomon Ss Pogm

    Aong with the DlP and Dsys, whichare no-ee pubic access programs,

    GPO provides pubic access to the

    weath o ocia edera inormation

    through pubic saes eaturing

    secure ordering through an onine

    bookstore or GPO saes pubications,

    a brick-and-mortar bookstore at GPO

    headquarters in Washington, DC, and

    partnerships with the private sector to

    oer edera pubications as ebooks.

    This program is managed by GPOs

    Pubications and Inormation Saes

    business unit.

    GPOs presence in the ebook

    market continues to grow. The agency

    entered into agreements in 2012 with

    Barnes & Nobe and Appe to make

    popuar Government tites such as the

    Public Papers o the President-Barack

    Obama, theFinancial Crisis Inquiry

    Report, andPonzimonium: How

    Scam Artists are Ripping O America

    avaiabe as ebooks. The agency

    now has agreements with Appe,

    Googes eBookstore, Barnes & Nobe,

    OverDrive, Ingram, Zinio, and other

    onine vendors to se edera ebooks

    and magazines.

    rmbusb Dsbuon Pogm

    The Pubications and Inormation Saes

    business unit aso operates inormation

    distribution programs or other

    edera agencies on a reimbursabe

    basis, incuding the Genera Services

    Administration (GSA) Consumer

    Inormation Center pubications.

    The agency works with GSA to

    process and distribute orders or

    consumer pubications through GPOs

    Congressman rank Evans Document

    Distribution Center in Puebo, CO.

    Since it rst opened in 1971, this aciity

    has distributed approximatey one

    biion pubications wordwide. In 2012,

    the American Customer Satisaction

    Index (ACSI), which measures

    customer satisaction with edera

    agencies, gave the Puebo aciity an

    overa customer satisaction score o

    84 points with compaints at ony one

    percent. The ACSI surveyed customers

    on their satisaction with cataog, Web

    site, phone, and order processing.

    This high customer satisaction score

    buids upon the Puebo distribution

    centers reputation or exceent

    customer service and high scores rom

    previousy-conducted surveys.

    GPO nd So Md

    GPO has embraced socia media.

    The agency uses acebook, Twitter,

    YouTube, and a book bog to share

    inormation about achievements,

    news, and events, and to promote

    specic pubications and products.

    GPO has 2,000 ikes on acebook,

    4,300 oowers on Twitter, and 64,000

    views across neary 50 videos on

    YouTube. The book bog, Government

    Book Tak, ocuses on increasing the

    awareness o new and cassic edera

    pubications through reviews and

    discussions. late in the sca year, GPO

    added a Pinterest account, which to

    date has been pinned more than 100

    times.

    In 2012, the American

    Customer Satisaction

    Index (ACSI), which

    measures customer

    satisaction with

    edera agencies, gaveGPOs Puebo aciity

    an overa customer

    satisaction score

    o 84 points with

    compaints at ony

    one percent.

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    G P O 2 0 1 2 A N N U A L R E P O R T 17

    GPO INANCES

    The Revoving und unctions as

    GPOs checking account with theU.S. Treasury. GPO pays its expenses

    rom this account either with a check

    or eectronic transer. The und

    is reimbursed when the Treasury

    Department transers money rom

    agency appropriations accounts to the

    Revoving und when agencies pay

    GPO invoices. This procedure aso

    appies to the payment o transers

    rom the Congressiona Printing and

    Binding and Saaries and Expenses

    Appropriations, and to deposits o

    unds coected rom saes to thepubic.

    GPO maintains a cash baance in

    the Revoving und that is used to

    pay a expenses. The cash baance

    fuctuates daiy as payments are

    received rom agency reimbursements,

    customer payments, and transers rom

    GPO appropriations.

    appopd unds

    GPOs Congressiona Printing and

    Binding Appropriation is used to

    reimburse the Revoving und or costs

    incurred in perorming congressiona

    work. The Saaries and Expenses

    Appropriation o the Superintendent

    o Documents is used to pay or

    costs associated with depository

    distribution, cataoging and indexing,

    statutory distribution, and internationa

    exchange distribution. Occasionay,

    appropriations are made to theRevoving und or specied purposes,

    to remain avaiabe unti expended.

    The reimbursements rom these

    appropriations are incuded in GPOs

    tota revenue.

    Unike most appropriations

    to other edera agencies, GPOs

    appropriations are generay or

    work that the agency itse does not

    contro. The Congressiona Printing

    and Binding Appropriation in eect

    is an appropriation by Congress to

    cover the costs o its own printing.The appropriation is made to GPO

    to reieve Congress o the burden

    o maintaining detaied accounting

    records or a the printing ordered

    rom GPO both by aw and by other

    congressiona requisitions, as we as

    the responsibiity or estimating the

    anticipated voume o congressiona

    printing that is used as the basis or the

    appropriation.

    Congress pays a major roe in

    controing the rate o spending

    o the Congressiona Printing and

    Binding Appropriation. GPO can

    transer unds rom the appropriation

    to the Revoving und ony when

    it perorms congressiona printing.

    The appropriation is not avaiabe or

    expenditure or any purposes other

    than congressiona printing. Whie GPO

    does its best to estimate the voume

    o congressiona printing in any given

    year, that voume can change due tocircumstances beyond GPOs contro.

    GPO can aect the rate o spending

    under this appropriation by ensuring

    the eciency o its operations.

    I congressiona requisitions a

    short o GPOs estimate, there wi be a

    baance remaining in the Congressiona

    Printing and Binding Appropriation

    at the end o the year. I Congresss

    requirements exceed GPOs estimate,

    GPO wi continue to u them, and

    Congress wi in eect spend more

    than it appropriated. As a resut, therewi be a shorta in the appropriation

    or which GPO woud need additiona

    unding in a subsequent year. The

    shorta woud be paid out o avaiabe

    moneyretained earningsin the

    Revoving und that otherwise woud

    be used or investment in new pant

    and equipment. When shortas occur,

    Congress subsequenty repays GPO or

    the excess cost o its printing to restore

    money to the Revoving und.

    like the Congressiona Printing and

    Binding Appropriation, the Saaries and

    Expenses Appropriation is avaiabe

    ony or specic programs: depository

    distribution, cataoging and indexing,

    statutory distribution, and internationa

    exchange. The pubishing activities

    o the Government determine the

    workoad handed by these programs,

    Unlike most Federal agencies, GPO operates like a business, providing products and services

    for Congress, Federal agencies, and the public and receiving payment in return. All GPO

    activities are financed through a business-like Revolving Fund, established by section 309of Title 44, U.S.C. The Fund is used to pay all of GPOs costs in performing congressional

    and agency printing, printing procurement, and distribution activities. It is reimbursed from

    payments from customer agencies, sales to the public, and transfers from GPOs two annual

    appropriations, the Congressional Printing and Binding Appropriation and the Salaries and

    Expenses Appropriation of the Superintendent of Documents.

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    18 G P O 2 0 1 2 A N N U A L R E P O R

    not GPO. However, GPO can aect

    the eve o unding by ensuring

    the eciency o its inormation

    dissemination operations.

    or Y 2012, GPO received

    tota appropriations o $126.2

    miion, incuding $90.7 miion or

    Congressiona Printing and Binding,

    $35 miion or the Saaries and

    Expenses o the Superintendento Documents, and $500,000 in

    appropriations to the Revoving

    und or inormation technoogy and

    aciities repairs. In eary Y 2012,

    the agency requested a fat budget o

    $126.2 miion or Y 2013, but with

    the unds distributed dierenty: $83.6

    miion or Congressiona Printing and

    Binding, $34.7 miion or the Saaries

    and Expenses o the Superintendent

    o Documents, and $7.8 miion in

    appropriations to the Revoving

    und or inormation technoogy and

    aciities repairs. However, unding

    or Y 2013 has been provided by

    continuing resoution.

    rnd enngs

    Under GPOs system o accrua

    accounting, annua earnings generated

    since the inception o the Revoving

    und have been accumuated

    as retained earnings. Retained

    earnings make it possibe or GPO

    to und a signicant amount o

    technoogy modernization. However,

    appropriations or essentia investments

    in technoogy and pant upgrades are

    aso requested annuay.

    Y 2012 nn rsusor Y 2012, revenue totaed $713.8

    miion, and the tota operating

    expenses charged against GPOs

    budget were $708.6 miion, excuding

    Other Operating Expense. The argest

    singe component o GPOs annua

    expenses was a pass-through cost or

    procured printing. In Y 2012, the cost

    o procured printing totaed $314.2

    miion, or about 44% o tota expenses.

    The second argest component was

    personne compensation and benets.

    These totaed $207.0 miion in Y

    2012, or about 29% o a expenses.

    Other Operating Expense was a $2.4

    miion adjustment to increase GPOs

    ong-term workers compensation

    iabiity, as determined by the

    Department o labor.

    Revenues rom charges against

    unds appropriated by Congress

    provided $114.5 miion (incuding

    unds rom the Congressiona

    Printing and Binding and Saaries and

    Expenses appropriations, aong with

    appropriations to the Revoving und;

    since these unds are without sca

    year imitation, additiona charges may

    be paced or work obigated in Y2012 but bied in a subsequent year),

    or about 16% o tota revenue. A

    other GPO activities, incuding in-pant

    printing (which incudes the production

    o passports), procured printing, saes

    o pubications, agency distribution

    services, and a administrative support

    unctions, were nanced through the

    Revoving und by revenues generated

    by payments rom agencies and saes

    to the pubic.

    As a resut, GPO reaized net

    income o $5.2 miion or the year,

    beore Other Operating Expense,

    and net income o $2.9 miion ater.

    GPOs nancia statements are audited

    annuay by an independent third party

    contracted or by the agencys Oce o

    Inspector Genera, and GPO routiney

    receives an unquaied, or cean

    opinion.

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    2012 U .S. GOVERNMENT PRINTING OICE INANCIAl STATEMENTS

    The oowing summary tabes are excerpts rom the u audited consoidated nancia statements and are not intended

    to substitute or the u audited nancia statements presented at hp://www.gpo.gov/pds/ongsson/hvs/2012

    annurpo.pd .

    For fscal year 2012 (October 1, 2011 - September 30, 2012) the GPO received a clean audit opinion on its

    consolidated fnancial statements rom KPMG LLP.

    For the ninth consecutive year, GPO achieved positive fnancial results beore other operating expenses. Net income

    beore other operating expenses was $5.2 million in fscal 2012 compared to net income beore other operating expenses

    o $2.9 million in fscal 2011. In fscal 2012, both operating revenue and operating expenses decreased rom fscal 2011.

    Operating revenue was down $107.3 million, or 13.1 percent (to $713.8 million rom $821.1 million), while operating

    expenses dropped $109.6 million, or 13.4 percent (to $708.6 million rom $818.2 million). The decrease in revenue and

    expenses was primarily due to a drop in activity within the Customer Services business unit combined with a decline

    in U.S. passport production volumes in the Security and Intelligent Documents (SID) business unit to about 10 million

    passports in fscal 2012 rom 13.2 million units in fscal 2011.

    Other operating expenses in 2012 included a charge o $2.4 million or an increase to the Agencys uture workers

    compensation liability. The long-term workers compensation charge is required to record the adjustment to the

    actuarially determined liability at September 30, 2012. Inclusive o other operating expenses, GPO had a net income o

    $2.9 million in fscal 2012 compared to a net income o $5.6 million in fscal 2011.

    Operations provided approximately $101 million in cash in fscal 2012 as compared to $46.4 million in cash infscal 2011. The GPO invested $18.7 million on capital items in fscal 2012 as compared to $12.7 million in fscal 2011.

    Summary Statements o Cash Flows (in thousands) 2012 2011

    csh ows om Opng avs

    N inom $ 2,858 $ 5,637

    Provided by operating activities:

    Depreciation and other 21,463 21,499

    Decrease in assets 30,066 202

    Increase in liabilities 44,070 21,799

    Workers compensation liability 2,380 (2,740)

    Total adjustments 97,979 40,760N sh povdd by Opng avs $ 100,837 46,397

    csh fows (usd n) invsng avs (18,655) (12,667)csh fows povdd by nnng avs 11,571 12,959N ins n csh Bn $ 93,753 $ 46,689

    Summary o Revenues, Expenses, and Net Income (in thousands) 2012 2011

    Operating Revenues $ 713,831 $ 821,109

    Operating Expenses 708,593 818,212

    N inom bo oh opng xpnss 5,238 2,897

    Other Operating Expenses

    (Increase) Decrease in workers compensation liability (2,380) 2,740

    N inom $ 2,858 $ 5,637

    G P O 2 0 1 2 A N N U A L R E P O R T 19

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    20 G P O 2 0 1 2 A N N U A L R E P O R

    Summary Balance Sheets (in thousands) 2012 2011

    asss

    Current Assets

    Fund balance with Treasury $ 480,607 $ 386,854

    Accounts receivable, net 141,176 172,271

    Inventory, net 31,891 31,919

    Prepaid expenses 1,156 99to un sss $ 654,830 591,143

    General property, plant and equipment, net 100,473 103,261

    to asss $ 755,303 $ 694,404

    lbs nd N Poson

    Current Liabilities

    Accounts payable and accrued expenses $ 109,188 $ 120,957

    Deferred revenues 200,429 143,144

    Accrued annual leave 9,417 10,843

    to un bs $ 319,034 274,944Other Liabilities

    Workers compensation liability 70,524 68,144

    to lbs $ 389,558 $ 343,088

    N poson

    Cumulative results of operations

    Retained earnings $ 168,146 $ 165,288

    Invested capital 92,879 92,879

    Unexpended appropriations 104,720 93,149

    to N Poson 365,745 351,316

    to lbs nd N Poson $ 755,303 $ 694,404

    The GPOs Balance Sheet continued to strengthen as a result o positive operating perormance. Working capital

    increased by $19.6 million, to $335.8 million in fscal 2012 rom $316.2 million in fscal 2011, and total current assets

    increased by $63.7 million, to approximately $654.8 million in fscal 2012 rom $591.1 million in fscal 2011.

    Total assets grew by $60.9 million to $755.3 million in 2012 rom $694.4 million in 2011. Cash increased to $480.6

    million in fscal 2012 rom $386.9 million in fscal 2011, due primarily to a decrease in accounts receivable in combination

    with an increase in customer deposit collections. Also contributing to the increase in cash in fscal 2012 was an increase

    o $11.6 million in unexpended appropriations rom fscal 2011.

    GPO ended fscal 2012 with retained earnings o $168.1 million, compared to $165.3 million at the end o fscal 2011.

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