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Issuance of Commission report: The Commission has authorized the staff to release publicly the FTC’s Performance and Accountability Report (PAR) for Fiscal Year (FY) 2007. In accordance with the Reports Consolidation Act of 2000, the PAR combines the Performance Report and the agency’s financial statements and audit opinion. This is the FTC’s fifth consolidated report prepared pursuant to the Accountability of Tax Dollars Act of 2002. The PAR compares and evaluates each year’s actual performance to the established measures and targets set forth in the FTC’s 2006-2011 Strategic Plan (www.ftc.gov/strategicplan) and the annual Government Performance and Results Act Performance Plan. The FY 2007 independent financial audit resulted in the FTC’s eleventh consecutive unqualified opinion, the highest audit opinion available.

The PAR begins with a “Message from the Chairman” and is presented in three parts: Part I contains management's discussion and analysis of the agency’s performance and financial activities; Part II contains the Performance Report; and Part III contains the agency’s financial statements and independent audit results. The PAR can be viewed at www.ftc.gov/par. The Commission vote to release the Performance Report was 5-0. (FTC File No. P859900; the staff contact is Darlene Cossette, 202-326-3255.)

Copies of the documents mentioned in this release are available from the FTC’s Web site at http://www.ftc.gov and from the FTC’s Consumer Response Center, Room 130, 600 Pennsylvania Avenue, N.W., Washington, DC 20580. Call toll-free: 1-877-FTC-HELP.

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