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Federal Financial Woes: Tighter Reins, Better ProcessesIn the face of failed audits and a Continuing Resolution on appropriations, Federal political leaders concede problems with government financial management and accounting, leading Congress to establish a bipartisan working group to address new approaches to current and established programs.
A series of inter-related Federal financial events may require Federal executives to look even more closely at the role real property assets play in their organizations' budgets. This article takes a closer look at the current Federal financial landscape.
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Top Six Problem Areas of Federal Real Property DataBy this summer, the General Services Administration will present the next Federal Real Property Profile (FRPP). The current reported data, according to the 2006 report, is impressive: Three billion square feet or space, over one million assets and more than1.3 trillion dollars in replacement value - excluding land.
If you examine the practices, systems and reported data of individual agencies, does it all add up to an accurate report?
This article looks at some important, lingering questions any Federal executive must consider - especially real property professionals - to ensure that they present the most accurate accounting possible of their real property assets.
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