About | HeinOnline Law Journal Library | HeinOnline Law Journal Library | HeinOnline
LOG IN
LOG IN

GGD-93-34R 1 (1993-04-05)

handle is hein.gao/gaobackhc0001 and id is 1 raw text is: Ai~ United States General Accounting Offiee Washington, D.C. 20548 General Government Division B-252914 11IIIIIII April 5, 1993 148886 The Honorable Carl Levin Chairman, Subcommittee on Oversight of Government Management Committee on Governmental Affairs United States Senate The Honorable William S. Cohen Ranking Minority Member, Subcommittee on Oversight of Government Management Committee on Governmental Affairs United States Senate This letter responds to your request for information on the Federal Buildings Fund's (FBF) ability to finance needed capital investment in federal buildings controlled by the General Services Administration (GSA). It is based on (1) our extensive body of past reports and testimonies on public buildings issues and (2) audit work we completed in May 1992 on GSA's space ownership goals, identified building capital investment needs, and projected FBF revenues and expenditures over the 10-year period ending in 2002. This data is as of May 1992, and it is the most current data available to us. Unless noted otherwise, the dollars referred to in this letter are current year dollars. Background The FBF, established by Congress in 1972, replaced direct congressional appropriations to GSA as the means of financing the operating and capital costs associated with federal space. GSA charges federal agencies rent that is supposed to be comparable to local commercial rents, deposits these receipts in the FBF, and uses them, subject to congressional limitations, to pay building operating and capital expenses. Rent payments were expected to provide (1) a financial incentive for agencies to reduce their space costs and (2) a steadier, more predictable source of funds than direct appropriations. In a series of reports and testimonies over the past 4 years on public buildings issues and GSA's management practices, we have stressed that for 2 decades the federal government has neglected needed capital investment in the federal buildings infrastructure and that this neglect is shortsighted and has GAO/GGD-93-34R, Federal Buildings Fund Limitations C S 1

What Is HeinOnline?

HeinOnline is a subscription-based resource containing thousands of academic and legal journals from inception; complete coverage of government documents such as U.S. Statutes at Large, U.S. Code, Federal Register, Code of Federal Regulations, U.S. Reports, and much more. Documents are image-based, fully searchable PDFs with the authority of print combined with the accessibility of a user-friendly and powerful database. For more information, request a quote or trial for your organization below.



Contact us for annual subscription options:

Contact Us

Already a HeinOnline Subscriber?

Log In

profiles profiles most