The Federal Buildings Fund (FBF) is the primary fund of the Public Buildings Service (PBS). PBS provides workplaces for federal agencies and their employees. FBF is primarily supported by rent paid to GSA from other federal entities.
FY 2013 FBF gross revenue was $11.6 billion, with over half the revenue from five federal customer agencies shown in the "FBF Top 5 Federal Customers" table.
|FBF Top 5 Federal Customers
||Revenues ($ in Millions)
||% of Total Revenues
|Department of Homeland Security
|Department of Justice
|Department of the Treasury
|Social Security Administration
FBF Net Revenues from Operations
FBF Net Revenues from Operations represents the amounts remaining after the costs of operating GSA owned and leased buildings are subtracted from revenue. Net Revenues from Operations are used to invest in major repairs and alterations to federal buildings and to partially offset costs of constructing new federal buildings.
Revenues and expenses in FBF are primarily from building operations and rent. FBF also operates a Reimbursable Work Authorization (RWA) program, which provides customer agencies with alterations and improvements in GSA space, above what is specified in the base rental agreement. FBF reported net revenue of $434 million compared to $310 million reported in FY 2012. Overall net revenues increased by $124 million. This was due to a $540 million increase in net revenue in Building Operations Government owned and a $106 million decrease in Building Operations Leased.
FBF Obligations, Outlays and Collections
In the FBF, obligations are primarily the value of contracts awarded to commercial vendors for the construction of new federal buildings; for repairs, cleaning, utilities and other maintenance of GSA-owned federal buildings; and lease and related payments to commercial landlords for space leased by GSA for federal agencies.
FBF Obligations Incurred decreased by $211 million between FY 2012 and FY 2013. Gross Outlays also decreased by $1.6 billion during FY 2013. Outlays are payments made by the government, once goods and services are received at an acceptable level of quality and completeness. Offsetting Collections increased by $158 million, which represent revenues collected from other federal agencies that "offset" expenditures made by GSA on behalf of other federal agencies.
|FBF Obligations and Outlays (Dollars in Millions)