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You are able to exchange or sell personal property and use the exchange value or sales proceeds to offset the cost of acquiring similar replacement property.
The legal authority is found in 40 U.S. Code § 503. GSA developed implementing policies at 41 CFR 102-39.
No, some property managers, upon first hearing the term “exchange/sale,” presume that both actions must be taken in the same transaction. Further, you are not required to do either an exchange OR a sale if such transactions do not benefit your agency.
Your agency should:
As the legal authority for exchange/sale at 40 U.S. Code § 503 utilizes this term, it is important to define this term in our regulations.
41 CFR 102-39.2 provides the definition for “similar” items.
“Similar” means the acquired item(s) and replaced item(s):
No. You only need to meet one of the criteria in this definition for the property to be considered “similar” for an exchange/sale transaction.
Your agency does the research to obtain the best deal on behalf of the Government from among the various vendors and manufacturers. The “best deal” consideration includes the allowance provided, as well as the value and utility of the replacement asset obtained.
You must account for exchange allowances in accordance with the general finance and accounting rules applicable to you. Except as otherwise authorized by law, all exchange allowances under this part will be available during the fiscal year in which the property was exchanged and for one fiscal year thereafter for the purchase of replacement property. Under no circumstances will deviations be granted for this section.
Sales must be conducted in accordance with 41 CFR 102-38. Generally, all sales must be conducted by one of the OMB- and GSA-approved Sales Centers. Contact the Sales Center your agency has designated for surplus sales to determine if they are also approved to conduct exchange/sale sales.
You must account for sales proceeds under exchange/sale in accordance with the general finance and accounting rules applicable to you. Except as otherwise authorized by law, all sale proceeds under this part will be available during the fiscal year in which the property was sold and for one fiscal year thereafter for the purchase of replacement property. Any proceeds of sale not applied to replacement purchases during this time must be deposited in the United States Treasury as miscellaneous receipts. Under no circumstances will deviations be granted for this section.
You must submit, within 90 calendar days after the close of each fiscal year (FY), an exchange/sale report using the online Personal Property Reporting Tool template found at https://www.property.reporting.gov. This template provides the specific information needed for your agency’s report. You can contact the GSA Help Desk at help.PPRT@gsa.gov if you need assistance accessing the online reporting tool. All reports, including negative reports, must be submitted electronically through the Personal Property Reporting Tool. Transactions involving books and periodicals in your libraries need not be reported.
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Rates for Alaska, Hawaii, and U.S. territories and possessions are set by the Department of Defense.
Rates for foreign countries are set by the Department of State.
Rates are available between 10/1/2023 and 09/30/2026.
The End Date of your trip can not occur before the Start Date.
Traveler reimbursement is based on the location of the work activities and not the accommodations, unless lodging is not available at the work activity, then the agency may authorize the rate where lodging is obtained.
Unless otherwise specified, the per diem locality is defined as "all locations within, or entirely surrounded by, the corporate limits of the key city, including independent entities located within those boundaries."
Per diem localities with county definitions shall include"all locations within, or entirely surrounded by, the corporate limits of the key city as well as the boundaries of the listed counties, including independent entities located within the boundaries of the key city and the listed counties (unless otherwise listed separately)."
When a military installation or Government - related facility(whether or not specifically named) is located partially within more than one city or county boundary, the applicable per diem rate for the entire installation or facility is the higher of the rates which apply to the cities and / or counties, even though part(s) of such activities may be located outside the defined per diem locality.
U.S. General Services Administration