Get Full Government Meeting Transcripts, Videos, & Alerts Forever!
Committee asks where proceeds from surplus property sales are recorded and used
Summary
Members of the Finance, Ways and Means Committee asked agency staff to explain how proceeds from surplus real estate, vehicles and equipment are handled; staff said proceeds generally remain with the owning agency or the facility revolving fund, with the surplus division retaining a small operating percentage for sales.
Chairman Hawk asked agency staff how dollars from surplus property sales are recognized in the budget and where the funds go after sale.
An agency speaker explained that treatment depends on which agency has jurisdiction and any restrictions tied to the property. For many state office buildings and multi-tenant properties, proceeds remain with the facility’s revolving fund and are…
Already have an account? Log in
Subscribe to keep reading
Unlock the rest of this article — and every article on Citizen Portal.
- Unlimited articles
- AI-powered breakdowns of topics, speakers, decisions, and budgets
- Instant alerts when your location has a new meeting
- Follow topics and more locations
- 1,000 AI Insights / month, plus AI Chat
