Pursuit's Take
As of March 31, 2014, the Federal Aviation Administration (FAA) reportedly owned approximately $733 million of non-capitalized accountable personal property.
FAA has not fully implemented effective internal controls for managing personal property. OIG estimates that FAA may not be able to locate approximately 15,000 personal property assets on record, with a combined acquisition value of more than $32.5 million. OIG also estimates that approximately 36,000 personal property asset records with an acquisition cost of $164million have incomplete or inaccurate information.