**GAO-02-854R**                      Published: Aug 08, 2002. Publicly Released: Aug 08, 2002.                  

-   
-   
-   
-   

    Jump To:  
-  Elder Abuse 
-  Services for Older Adults 
-  State and Local-Level Drivers and Trends 
-  State and Local Fiscal Projections 
-  Federal Borrowing 
-  Managing the Debt 
-  Summary of Funding Provisions 
-  Auditing the Government's Books 
-  Unpacking the Financial Report 
-  Highlights 
-  Recommendations 
-  Background 
-  About This Work 
-  About This Work 
-  Trends 
-  About the Center 
-  Why It's High Risk 
-  What Remains To Be Done 
-  Key Reports 
-  Newest COVID-Related Reports 
-  AI Use Cases 
-  Flood Insurance 
-  Past Pandemic-Related Reports 
-  CARES Act Oversight Reports 
-  All COVID-19 Reports 
-  Report Suspected Fraud 
-  Subjects 
-  How to Get Notified 
-  Past Reports 
-  Public Health Threats 
-  Explore the FY 2022 and 2023 Funds 
-  Status of FY22 Projects 
-  Lessons Learned 
-  Agency Reports 
-  Recent Reports 
-  Recommendations 
-  Supplemental Material 
-  Full Report 
-  Additional Data 
-  View Decision 
-  Downloads 
-  Previously Identified Actions 
-  Related Pages 
-  Associated Agencies 
-  Tough Choices and Opportunities Ahead 
-  Americas Fiscal Future Key Areas 
-  Retirement Security Key Areas 
-  Current List 
-  About The High Risk List 
-  Area Ratings 
-  Previous High Risk Products 
-  Search Federal Vacancies 
-  Past Federal Vacancies 
-  Violation Letters 
-  About the Yellow Book 
-  Advisory Council 
-  Related Resources 
-  Comment Letters 
-  Related Publications 
-  Contacts and Resources 
-  Major Issues Facing the Nation 
-  Meeting Strategic Challenges 
-  Additional Resources 
-  Resources 
-  GAO Contacts 
-  Mission Teams 
-  Operations and Staff Offices  
-  Organization Chart  
-  Why a Career at GAO? 
-  Am I Qualified? 
-  Company Culture 
-  Reasonable Accommodations 
-  Video Gallery 
-  Paid Internships 
-  Student Volunteers 
-  Professional Development Program 
-  Advancement 
-  Executive Candidate Program 
-  Summer Associates 
-  Externships 
-  Benefits 
-  Contacts 

Skip to Highlights

## Highlights

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.

## Full Report

Full Report (4 pages)

Accessible Text 

## Office of Public Affairs

### Media Inquiries

Sarah Kaczmarek
kaczmareks@gao.gov

(202) 512-4800

### Public Inquiries

Public Affairs
PublicAffairs@gao.gov

(202) 512-4800

## Topics

Government Operations

Facility repairsFederal office buildingsFinancial analysisReal propertyFacility maintenanceFederal property managementEvaluation criteriaInventoryFederal buildingsFinancial conditions