FMX Update - Proceeds From the Sale of Surplus Property Go to GR

Texas Comptroller of Public Accounts sent this bulletin at 09/23/2011 03:04 PM CDT


What's New on FMX

Proceeds From the Sale of Surplus Property Go to GR

All proceeds from the sale of surplus property, equipment and commodities must be deposited to general revenue (GR) in appropriation 99908.

  • An agency may reappropriate 25 percent of the receipts from the sale of surplus property for expenditure during the fiscal year in which the receipts are received.
  • The Texas Facilities Commission (TFC) deposits 100 percent of the proceeds from sales made by TFC on behalf of an agency into GR.

For more information, see Proceeds From the Sale of Surplus Property (FPP A.032).

 

 

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