Federal Buildings Fund: Improved Transparency and Long-term Plan Needed to Clarify Capital Funding Priorities

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A letter report issued by the Government Accountability Office with an abstract that begins "The Federal Buildings Fund’s (FBF) balance has increased from $56 million in fiscal year 2007 to $2.2 billion in fiscal year 2012 primarily due to the growing difference between the resources provided to the FBF and the General Services Administration’s (GSA) use of these funds as determined through the budgeting and appropriations process. In the last 2 years, Congress has provided fewer resources than requested by the executive branch and generated by the FBF. Office of Management and Budget (OMB) staff and GSA officials stated that ... continued below

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United States. Government Accountability Office. July 12, 2012.

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This report is part of the collection entitled: Government Accountability Office Reports and was provided by UNT Libraries Government Documents Department to Digital Library, a digital repository hosted by the UNT Libraries. It has been viewed 43 times , with 21 in the last month . More information about this report can be viewed below.

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Description

A letter report issued by the Government Accountability Office with an abstract that begins "The Federal Buildings Fund’s (FBF) balance has increased from $56 million in fiscal year 2007 to $2.2 billion in fiscal year 2012 primarily due to the growing difference between the resources provided to the FBF and the General Services Administration’s (GSA) use of these funds as determined through the budgeting and appropriations process. In the last 2 years, Congress has provided fewer resources than requested by the executive branch and generated by the FBF. Office of Management and Budget (OMB) staff and GSA officials stated that if GSA were able to spend all of the funds collected by the FBF each year, these funds would generally be sufficient to fund GSA’s needs. However, GSA, through the annual President’s Budget Request, has sought less obligational authority than the balance available in the fund. While the FBF’s balance has increased, various factors have limited the fund’s income. Funds from operations—revenue less costs excluding depreciation—that contribute to FBF income have declined from 2006 to 2011 when adjusted for inflation. Revenues have declined while costs have outstripped inflation over this time period. In addition, portions of GSA’s inventory operate at a loss. For example, about 30 percent of GSA’s owned assets lost money in 2011, while GSA’s total leased portfolio lost about $75 million. Despite the losses in its leased portfolio, GSA continues to rely extensively on leasing. GSA is taking steps to reduce the size of its overall real estate portfolio."

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Government Accountability Office Reports

The U.S. Government Accountability Office (GAO) is an independent, nonpartisan agency that works for the U.S. Congress investigating how the federal government spends taxpayers' money. Its goal is to increase accountability and improve the performance of the federal government. The Government Accountability Office Reports Collection consists of over 13,000 documents on a variety of topics ranging from fiscal issues to international affairs.

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  • July 12, 2012

Added to The UNT Digital Library

  • June 12, 2014, 7:50 p.m.

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United States. Government Accountability Office. Federal Buildings Fund: Improved Transparency and Long-term Plan Needed to Clarify Capital Funding Priorities, report, July 12, 2012; Washington D.C.. (digital.library.unt.edu/ark:/67531/metadc302326/: accessed August 18, 2018), University of North Texas Libraries, Digital Library, digital.library.unt.edu; crediting UNT Libraries Government Documents Department.