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U.S. General Services Administration Gary Thompson Senior Program Analyst General Services Administration, Office of Govenmentwide Policy Gary Thompson.

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Presentation on theme: "U.S. General Services Administration Gary Thompson Senior Program Analyst General Services Administration, Office of Govenmentwide Policy Gary Thompson."— Presentation transcript:

1 U.S. General Services Administration Gary Thompson Senior Program Analyst General Services Administration, Office of Govenmentwide Policy Gary Thompson Senior Program Analyst General Services Administration, Office of Govenmentwide Policy May 15-17, 2012 OVERVIEW OF FEDERAL GOVERNMENT EXCHANGE/SALE PROGRAM

2 Value to the Customer Value: Allows Customer Agencies when acquiring replacement property, to exchange or sell similar items and apply the exchange allowance or proceeds of sale in whole or in part payment for the property acquired. Example: DOJ Sale of 50 Aircrafts and Aircraft Parts. Value: Provided proceeds of $1.4 for purchase of new aircrafts. Example: Navy Exchange of Weapon System Value: Resulted in allowances of $47.0 M for purchase of new system. 2

3 Overview of Exchange/Sale Program 3 Authority: Title 40 U.S.C. – Law that established GSA, and many asset management policies; including the latest version of the exchange/sale authority (40 USC 503). 41 C.F.R (FMR ) – Governmentwide regulation implementing 40 U.S.C. 503

4 Overview of Exchange/Sale Program 4 Key Points: The use of E/S should be considered when replacing personal property. Asset Capital Planning should consider the use of E/S. E/S authority is an acquisition authority, not disposal. Law at 40 U.S.C. is very general, and gives GSA Administrator authority to implement related policies.

5 Overview of Exchange/Sale Program Key Points – Restrictions: Items cannot be excess – there must still be a need for the asset. Restrictions on use of funds and exchange allowance. Replaced assets must be similar. Need to avoid appearance of a yard sale. List of prohibited items at FMR

6 Overview of Exchange/Sale Program Key Points – Restrictions (continued): Several categories of assets, including aircraft, were recently removed from the prohibited list. Note to this section – paraphrased - Deviations will not be considered for FSC Class 1005 (Guns <30 mm). 6

7 Overview of Exchange/Sale Program Key Points – Using the Exchange/Sale Authority: What if the Exchange Allowance/Sales Proceeds are unreasonably low? Dont consider if the transaction violates statute or regulation. Determine which action is likely to provide the greater return. 7

8 Overview of Exchange/Sale Program Key Points – Offering Exchange/Sale Property to Federal Agencies and States: First consider: Federal agencies known to use such property Terms agreeable to both parties Reimbursement amount not greater than fair market value Apply proceeds in whole or part to acquire replacement property State Agencies for Surplus Property (SASP). 8

9 Overview of Exchange/Sale Program Key Points – Exchange/Sale Conditions: Property exchanged/sold must be similar to property acquired. Property neither excess nor surplus. Property not acquired for the purpose of E/S. Allowances and proceeds to offset cost of replacement property Document facts associated with each transaction. 9

10 Overview of Exchange/Sale Program Key Points – Accounting Requirements: Use general finance and accounting rules. Allowances/Proceeds available in fiscal year property exchanged or sold plus one additional fiscal year. Proceeds not applied are deposited into US Treasury as miscellaneous receipts. 10

11 Overview of Exchange/Sale Program Key Points – Reporting Requirements Submit summary report 90 calendar day after close of fiscal year. Submit report electronically to E/S Reporting Tool at https:gsa.inl.gov/property Negative reports must be submitted 11

12 Overview of Exchange/Sale Program 12 In-Use Donation Sales Excess Reassigned within the Agency Property No Longer Needed or Available Disposal at any stage: Non-federal transfers; Abandoned/Destroyed; and Lost Sold Exchange/Sale - $306M (2009) Stage of Use or Disposal: Donated - $343M (2009) Transferred to other agencies - $398M (2009)


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