Stewardship Information
USGS makes a substantial investment while fulfilling its stewardship responsibilities for the benefit of the Nation. We serve the citizens of the United States as steward for a large, varied, and scientifically important body of heritage assets, and in conducting research and development that is critical to the health of our country and in understanding the earth.
Costs associated with stewardship initiatives are treated as expenses in the financial statements in the year the costs are incurred. However, these costs and resultant resources are intended to provide long-term benefits to the public and are included as required supplementary stewardship information (RSSI) reporting to highlight their long-term-benefit nature and to demonstrate our accountability over them. Stewardship resources are not required to be included in the assets and liabilities reported in our financial statements; they are, however, important to understanding the operations and financial condition of USGS.
Stewardship assets often have physical properties that resemble those of the general property, plant and equipment that is traditionally capitalized in the financial statements of Federal entities. However, due to the nature of these assets, valuation would be difficult and matching costs with specific periods would not be meaningful. Heritage assets have one or more of the following characteristics: historical or natural significance, special cultural, educational, or aesthetic value, or significant architectural characteristics. We have heritage assets in two categories: museum collections and scientific library collections.
Investments in research and development are expenses incurred to support the search for new or refined knowledge and ideas, and for the application or use of such knowledge and ideas, for the development of new or improved products or processes with the expectation of maintaining or increasing national economic productive capacity or yielding other future benefits.
U.S. Department of the Interior, U.S. Geological Survey
URL: http://pubsdata.usgs.gov/pubs/03financial/html/stewardship.html
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Last modified: 16:28:45 Tue 22 Nov 2016
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