Strategies to Renew Federal Facilities (2023) / Chapter Skim
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Pages 90-93
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From page 90... ...
using the Federal Buildings Fund. Aggregation of Financing for Capital Assets Capital investments occur episodically, as opposed to every year, and can create spikes in spending relative to the budget levels of annually recurring operating costs.
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From page 91... ...
55000 standards in support of OMB Circular A-11 and A-123 policy and guidance would provide needed assurances that capital investment strategies are harmonized with agency facility operating strategies, as documented in agency real property capital plans submitted in justification of agency budgets. Furthermore, application of ISO 55000 would require agencies to document not only budget justification, but also risk mitigation strategies and plans for unfunded requirements.
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From page 92... ...
More than 60 percent of this space is leased from the private sector, and the remaining 40 percent is federally owned. GSA's FBF is a quasi-revolving fund that was created in 1972 to help GSA manage its real property inventory.
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From page 93... ...
These are all changes that could be made to return the FBF to its original purpose of ensuring that users pay for the cost of maintaining, repairing, and replacing the portfolio of real property assets. Finding 6-3: The committee noted that the federal agencies struggle to find funds to meet the most urgent facility renewal needs.
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