Federal Personal Property: GSA and VA Have Opportunities to Improve the Exchange/Sale Process
Abstract
According to the U.S. Treasury, the government owns about $1.3 trillion in "personal property" such as computers, furniture, and vehicles. Federal law authorizes agencies to exchange or sell personal property and retain the allowances or proceeds for replacing similar needed property. These are called "exchange/sale" transactions. GSA is responsible for issuing exchange/sale regulations and guiding agencies on the use of the authority. GAO was asked to review agencies' use of the exchange/sale authority. This report (1) describes what is known about personal property exchange/sale transactions from fiscal year 2013 through fiscal year 2017 and (2) examines selected agencies' experiences using the exchange/sale authority and monitoring such activities. GAO analyzed multi-year data compiled by GSA OGP and found the data to be sufficiently reliable. GAO selected three agencies - GSA, the Army, and VA - based on the type, quantity, and value of personal property exchanged and sold; reviewed agencies' personal property policies; examined agencies' monitoring of exchange/sale activities; and interviewed their officials about personal property management.
Document Details
- Document Type
- Technical Report
- Publication Date
- Nov 16, 2018
- Accession Number
- AD1157888
Entities
People
- Lori Rectanus
Organizations
- United States Government Accountability Office