If GSA were a publicly traded company, our $18.7 billion in revenues would place us at 135 on the Fortune 500, ahead of Xerox and Nike, among others.
GSA’s FY 2009 Agency Financial Report provides a full analysis of our financial position, including this year’s clean audit opinion, financial statements, and notes to the financial statements. Additionally, to provide citizens with increased transparency, GSA’s 2009 AFR website allows users to explore financial data in a user-friendly interactive way, and provides a glossary of commonly used financial terms.Where GSA’s Resources Come From
The majority of GSA’s resources come from reimbursements from other federal agencies for goods and services we have provided. In fact, during a normal year, only about 2.5 percent of GSA’s resources comes from appropriations. Because of the large Recovery Act appropriation, in FY 2009 appropriations represented about 25 percent of all resources received by GSA.How GSA’s Resources are Used
GSA’s resources are primarily used in one of two business lines. The Public Buildings Service provides buildings to other federal agencies, while GSA’s Federal Acquisition Service provides goods and services. In FAS, these goods and services come from the Supplies, Fleet, IT, or Assisted Acquisition (primarily large IT systems) business lines.Recovery and Reinvestment Act
The Recovery Act had a material impact on GSA’s 2009 financial activity. This is most evident in the 88 percent increase in fund balance with Treasury, which is essentially GSA’s checking account balance. This increase reflects Recovery Act projects that were funded up front, but will take several years to pay out.
Please review more of our financials in the Fiscal Year 2009 Agency Financial Report.