Notes to the Financial Statements

For the Fiscal Years Ended September 30, 2007 and 2006

Organization

The U.S. General Services Administration (GSA) was created by the U.S. Federal Property and Administrative Services Act of 1949, as amended. Congress enacted this legislation to provide for the Federal government an economic and efficient system for the procurement and operation of buildings, procurement and distribution of general supplies, acquisition and management of a motor vehicle fleet, management of automated data processing resources, and management of telecommunications programs.

The Administrator of General Services, appointed by the President of the United States with the advice and consent of the U.S. Senate, oversees the operations of GSA. GSA carries out its responsibilities through the operation of several appropriated and revolving funds.

• Note 1. Significant Accounting Policies
• Note 2. Fund Balance with Treasury
• Note 3. Non-Entity Assets
• Note 4. Accounts and Notes Receivable
• Note 5. Property and Equipment
• Note 6. Intragovernmental Debt
• Note 7. Workers’ Compensation Benefits
• Note 8. Leasing Arrangements
• Note 9. Other Liabilities
• Note 10. Commitments and Contingencies
• Note 11. Unfunded Liabilities
• Note 12. Reconciliation to the President’s Budget
• Note 13. Combining Statements of Budgetary Resources
• Note 14. Consolidating Statements of Changes in Net Position
• Note 15. Employee Benefit Plans
• Note 16. Reconciliation of Net Costs of Operations to Budget
• Note 17. Acquisition Services Fund

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