FINANCIAL MANAGEMENT POLICY MANUAL

075141 REAL/PERSONAL PROPERTY DISPOSAL
PROGRAMS
1. EXCESS AND SURPLUS PROPERTY
a. Definitions
(1) Excess Property.
The term "excess property" as used herein means real property and
related personal property in a caretaker or idle status, not retained
for mobilization purposes, and which has been reported to the
Naval Facilities Engineering Command as unnecessary to the
needs of the cognizant organizational component.
(2) Surplus Property.
Surplus property is excess property declared to be unnecessary to
the needs of the Federal Government.
(3) Financial Responsibility.
Financial responsibility means responsibility for funding costs
associated with excess and surplus property, such as:
1. costs for care, preservation, repair, handling, protection,
and maintenance;
2. costs for taxes, authorized payments in lieu of taxes, rents,
and insurance premiums.
b. Budget Policy.
The organizational component that had responsibility for such costs
immediately prior to the designation of the property as excess property
will continue to bear financial responsibility until the property is
reassigned to another organizational component or military
department, transferred to another Federal agency, or until the
Government's interest in the property is terminated. However, when
excess property listed to the General Services Administration (GSA) is
not transferred or disposed of within 12 months of the date it was
officially listed, responsibility for the costs is assigned as follows:
(1) subpar .a(3), item 1 - to be assumed by GSA on the first day
of the succeeding quarter of the fiscal year;
(2) subpar .a(3), item 2 - to continue to be borne by the
organizational component until GSA transfers or disposes of
the property.
c. Government-Wide Regulations.
See the Federal Property Management Regulations of the General
Financial Management Policy
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