State Department

Millions of Dollars Could Be Generated by Selling Unneeded Overseas Real Estate Gao ID: T-NSIAD-96-195 June 27, 1996

The State Department owns millions of dollars worth of overseas properties that are unneeded or too expensive to maintain. Proper management of State's overseas property could generate considerable revenue for higher priority uses. GAO recommends that State convene an independent panel to review and suggest the sale of excess property. In GAO's view, such a panel could help reduce the current property inventory and ensure proper management in the future. Further, to expeditiously resolve disagreements between the Office of Foreign Buildings Operations (FBO) and the embassies, GAO recommends that State prepare annual reports identifying all excess properties whose sale FBO and the embassies cannot agree on. GAO also suggests that State improve its accounting and reporting on the use of sales proceeds.



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