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GSA Logo U.S. General Services Administration
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  • Per diem lookup
Buy through us
Explore buy through us
Category management
Government property for sale or lease
Personal property (tangible goods)
Real property (real estate and buildings) for public use
Real property sales
Vehicle sales
Products and services
Human capital
Industrial products and services
Office management
Professional services
Security and protection
Transportation and logistics services
Purchasing programs
Assisted acquisition
Commercial platforms
Federal strategic sourcing initiative
Fleet management
HCaTS and HCaTS SB
OASIS and OASIS SB
Requisition programs
State and local programs
Emergency acquisition basic ordering agreements
Shared services
Payroll services
Support services for CABs
Sell to government
Explore sell to government
Step 1: Learn about government contracting
Ways you can sell to government
How to access contract opportunities
Conduct market research
Step 2: Compete for a contract
Register your business
Certify as a small business
Become a schedule holder
Market your business
Research active solicitations
Respond to a solicitation
What to expect during the award process
Step 3: Manage your contract
Comply with contractual requirements
Handle contract modifications
Monitor past performance evaluations
Real estate
Explore real estate
Design and construction
3D-4D building information modeling
Computer-aided design standards
Engineering
Project management information system
Prospectus thresholds
Facilities management
Security
Tenant services
Water quality management
Our properties
Owned and leased properties
Regional buildings
Renting property
Real estate services
Leasing
Real property disposal
Reimbursable services (RWA)
For businesses seeking opportunities
For workers in federal buildings
Voice of the customer
Workplace optimization
Commercial coworking
Federal coworking
Policy and regulations
Explore policy and regulations
Acquisition management policy
Aviation management policy
Information technology policy
Real property management policy
Relocation management policy
Travel management policy
Vehicle management policy
Regulations
Federal acquisition regulations
Federal management regulations
Federal travel regulations
Small business
Explore small business
Small business goals
Register your business
Explore business models
Research the federal market
Subcontracting and other partnerships
Forecast of contracting opportunities
Small business resources
Small business contacts
Small business events
Videos
Travel
Explore travel
Plan a trip
Per diem rates
Transportation (airfare rates, POV rates, etc.)
Lodging
Travel charge card
Travel and lodging services
E-gov travel service (ETS)
Rideshare
Travel category schedule
Federal travel regulation
Technology
Explore technology
Build websites and digital services
Purchasing programs
Cloud computing services
Cybersecurity products and services
Governmentwide acquisition contracts
MAS information technology
USAccess
Government initiatives
Artificial Intelligence
Cybersecurity
Emerging citizen technology
FedRAMP
Federal identity, credentials, and access management
Robotic process automation community
Technology modernization fund
Training
About us
Explore about us
Background and history
Overview
Mission and strategic goals
Role in presidential transitions
Careers
Get an internship
Launch your career
Elevate your professional career
Discover special hiring paths
Resources and related links
Events and training
Events, training, and request a speaker
Our training programs
Newsroom
Agency blog
Congressional testimony
GSA does that podcast
News releases
Speeches
Videos
Organization
Leadership directory
Federal Acquisition Service
Public Buildings Service
Staff offices
Regions
Region 1 | New England
Region 2 | Northeast and Caribbean
Region 3 | Mid-Atlantic
Region 4 | Southeast Sunbelt
Region 5 | Great Lakes
Region 6 | Heartland
Region 7 | Greater Southwest
Region 8 | Rocky Mountain
Region 9 | Pacific Rim
Region 10 | Northwest/Arctic
Region 11 | National Capital Region
Contact us
  1. Home
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  5. Annual reports
  6. 2023 Agency Financial Report
  7. Management’s discussion and analysis
  8. Financial statement summary and analysis

Financial statement summary and analysis

2023 Agency Financial Report, GSA delivers implementation, impact and value

The financial statements and financial data presented in this report have been prepared from the our accounting records in conformity with generally accepted accounting principles, as prescribed by the Federal Accounting Standards Advisory Board.

Consolidated financial results

Our assets

A bar and pie graph shows four categories of GSA assets: real property and buildings, vehicles and equipment, fund balance with treasury, and accounts receivable and all other assets.Read image text description

GSA assets primarily include property and equipment, Fund Balance with Treasury and Accounts Receivable. The majority of property and equipment for GSA are federal buildings, motor vehicles, and office equipment. GSA accounts receivable are primarily derived from amounts due to GSA from federal agencies and non-federal customers for goods or services provided or uncollected rent.

In fiscal year 2023 GSA recorded a net increase of approximately $1.3 billion in assets. Significant changes in assets are attributable to an increase in the overall FBwT of $0.9 billion in the Federal Buildings Fund (FBF). Out of the $26.3 billion in FBwT, $8.7 billion is temporarily precluded from obligation by GSA. GSA’s accounts receivable from other Federal agencies increased by $463 million, principally due to increases in Acquisition Services Fund business volume.

Our accounts receivable from other federal agencies increased by $924 million, principally due to increases in Acquisition Services Fund business volume.

Our liabilities

Bar and pie graph showing FY 2023 liabilities fall into three categories: 1) accounts payable, 2) environmental and disposal, and 3) other liabilities.Read image text description

GSA liabilities are primarily amounts owed to commercial vendors for goods and services received but not yet paid (Accounts Payable), amounts GSA owes to other Federal entities, and long-term estimates of future environmental remediation costs.

In FY 2023, total liabilities were $12 billion, a net increase of $845 million compared to FY 2022 total liabilities of $11.2 billion. The increase in accounts payable is comparative to the increase in accounts receivable and also attributable to increased business volume in the ASF.

Our net results

The Consolidating Statements of Net Cost present the revenues and expenses incurred by providing goods and services to GSA’s customers and executing GSA’s programs, displayed by major components and activity. GSA reported approximately $34.7 billion in revenue during FY 2023 compared to $32.4 billion reported in FY 2022, which were matched by expenses of $34.6 billion and $31.9 billion, respectively. Changes in the FBF and ASF net operating results are presented further below.

Pie graph of GSA's FY 2023 revenue composition by business area in descending order of revenue: AAS, leased building operations, government-owned building operations, TTL, general supplies and services, and IT and other programsRead image text description
Table 1. Revenue by major business line (dollars in millions) 1
Fund Major business line FY 2023 FY 2022 Dollar change Percentage change
ASF Assisted acquisition $16.872 $15,017 $1,855 12.4%
ASF Travel, transportation and logistics $3,001 $2,692 $309 11.5%
ASF General supplies and services $1,710 $1,345 $365 27.1%
ASF IT $1,710 $1,295 $(260) (20.1)%
ASF Professional services and human capital $133 $116 $17 14.7%
ASF Other programs $168 $203 $(35) (17.2)%
FBF Building operations - Government owned $5,402 $5,334 $68 1.3%
FBF Building operations - Leased $6,516 $6,561 $(45) (0.7)%
1 This table shows gross revenue by our major business lines. It does not include appropriations or funding transferred within our agency. (See the Consolidating Statement of Net Cost for details.)

Our budget

Bar graph of GSA budget composition. FY 2023 shows the Federal Buildings Fund at 52.5%, the Acquisition Services Fund at 43.3%, and other funds at 4.2%Read image text description

GSA’s Total Budgetary Resources, reported on the Statement of Budgetary Resources, realized a net increase in FY 2023 by $5.1 billion primarily due to increases in spending authority from offsetting collections and obligations in the ASF. Generally this type of spending authority is created by the revenues and customer orders received from Federal agencies and is also referred to as reimbursable spending authority. The ending unobligated balance increased by $730 million, primarily related to unobligated brought forward balances in the FBF from prior year appropriations.

Table 2. Budget by fund (dollars in millions)
GSA fund FY 2023 FY 2022 Dollar change Percentage change
Acquisitions Services Fund $30,913 $26,933 $3,980 14.8%
Federal Buildings Fund $25,482 $24,350 $1,132 4.6%
Other funds $2,502 $2,473 $29 1.2%
Total budget $58,897 $53,756 $5,141 9.6%
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Last updated: Jun 25, 2024
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