Financial Condition of Federal Buildings Owned by the General Services Administration

GAO-02-854R: Published: Aug 8, 2002. Publicly Released: Aug 8, 2002.

Additional Materials:

Contact:

Bernard L. Ungar
(202) 512-4232
contact@gao.gov

 

Office of Public Affairs
(202) 512-4800
youngc1@gao.gov

The General Services Administration (GSA) manages over 1,700 federally owned buildings with $5.7 billion in identified repair and alteration needs. GAO was asked to review the situation, but at the time the review started, the Public Building Service (PBS) also began a review, and, consequently, GAO reviewed the PBS review. PBS described the building inventory as predominantly aged with reinvestment needs that far exceed the capabilities of the Federal Buildings Fund--a revolving fund administered by the GSA. PBS analyzed 1,375 of GSA's 1,745 federally owned buildings. Each was placed into one of four categories. Buildings termed "nonperforming" do not generate sufficient income to cover their expenses and to set aside a minimal amount for future repair and alteration needs or replacement. Buildings termed "poor" generate sufficient income to cover their expenses and a minimal reserve. Buildings termed "good" pass the prior two tests and have a return of investment (ROI) of at least 6 percent, but their conditions are considered poor, and they have high reinvestment needs. Buildings termed "solid" are those that generate more than 6 percent ROI and are in good condition, thus having relatively low reinvestment needs.

Sep 28, 2016

Sep 27, 2016

Sep 26, 2016

Sep 23, 2016

Sep 21, 2016

Sep 7, 2016

Aug 30, 2016

Aug 11, 2016

Jul 22, 2016

Looking for more? Browse all our products here