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Government Accountability Office (GAO) Reports Real Property RiskAbout GAO's "High Risk Series, Federal Real Property" Report The report "High Risk Series, Federal Real Property" (GAO-03-122) was issued by the Government Accountability Office (GAO) in January 2003. The report identifies federal real property as a high-risk area. The report states: "Long-standing problems in the federal real property area include excess and underutilized property, deteriorating facilities, unreliable real property data, and costly space. These factors have multibillion-dollar cost implications and can seriously jeopardize the ability of Federal agencies to accomplish their missions." Within the Report…
According to the GAO report, federal real property is a high-risk area for several reasons:
GAO's report recommends the following: Develop a comprehensive and integrated real property transformation strategy that:
Executive Order 13327 is one effort currently underway to successfully address some of GAO's recommendations. The Order establishes a Federal Real Property Council (FRPC) in the Office of Management and Budget. The Council of Senior Real Property Officers are developing guidance for and working with landholding agencies to prepare and implement asset management plans.
Last Reviewed 7/25/2008
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