Views on House Resolution 265

GAO commented on a proposed resolution which provides that the President should: (1) direct all executive branch agency heads to inventory their assets, estimate the approximate value of each asset, and identify uses of each asset; (2) identify assets which are surplus to Federal needs and therefore candidates for liquidation; and (3) submit recommendations to Congress on any legislative and administrative revisions that may be needed to carry out a liquidation program in an orderly manner. GAO agrees that land and other assets acquired by the Federal Government for use in the conduct of its operations, which are now surplus to current and foreseeable needs, should be disposed of in a manner beneficial to the national interests. Further, the Federal Government needs reliable records of its assets and their value so that they can be properly managed.