Menu Search Account

LegiStorm

Get LegiStorm App Visit Product Demo Website
» Get LegiStorm App
» Get LegiStorm Pro Free Demo

General Services Administration: Overestimation of Federal Buildings Fund Rental Revenue Projections

  Premium   Download PDF Now (15 pages)
Report Type Reports and Testimonies
Report Date March 5, 1998
Report No. T-GGD-98-69
Subject
Summary:

The General Services Administration (GSA) overestimated its rental revenue projections for the Federal Buildings Fund in fiscal years 1996-98 by more than $1 billion. GAO found that GSA had documentation supporting the dollar amounts it attributed to six of the seven reasons it reported for the $847 million overestimation that GSA identified in January 1997. In addition, GAO and others identified several weaknesses in GSA's rental revenue estimation process. GSA was aware of these problems and has taken steps to improve future rental revenue estimates. Furthermore, GSA recently reported that the actual budget impact of its rental revenue estimation to be $634.4 million for fiscal years 1996 and 1997, and reduced its fiscal years 1998 anticipated overestimation substantially.

« Return to search Government Accountability Office reports