Brief Overview of the AFR
The purpose of the U. S. General Services Administration (GSA) fiscal year (FY) 2020 Agency Financial Report (AFR) is to inform the President, Congress, and the American people how GSA used Federal resources in FY 2020 to reliably deliver cost-effective real estate, acquisition, and technology services to the Federal departments and agencies it serves. Providing these services at a good value to our Federal customers allows them to focus their resources on meeting their core missions. GSA chose to produce both an AFR and an Agency Performance Report (APR) for FY 2020 and will post both reports on GSA.gov under Annual Reports.
This AFR provides high-level financial and highlighted performance results with assessments of controls, a summary of challenges, and GSA stewardship information. The report is prepared in compliance with various laws applicable to Federal financial reporting and in conformance with implementing guidance issued by the Office of Management and Budget (OMB). The primary laws and guidance include:
- Chief Financial Officers Act of 1990
- Federal Managers Financial Integrity Act of 1982
- Federal Financial Management Improvement Act of 1996
- Government Management Reform Act of 1994
- Reports Consolidation Act of 2000
- OMB Circular A-11, Preparation, Submission and Execution of the Budget
- OMB Circular No. A-123, Management’s Responsibility for Enterprise Risk Management and Internal Control; and
- OMB Circular No. A-136, Financial Reporting Requirements
The APR is a detailed report on GSA’s progress toward achieving the goals and objectives described in the agency’s Strategic Plan and Annual Performance Plan, including progress on the strategic objectives, performance goals, and agency priority goals. The report will be delivered to Congress with GSA’s Congressional Budget Justification by February 1, 2021.