§ 102-36.240 Gift disposal other than intangible personal property.

(a) Report the gift to GSA when it is offered with the condition that the property be sold and the proceeds used to reduce the public debt. (b) You may use the gift for an authorized official purpose without reporting it to GSA when it is offered with no conditions or restrictions and your agency has gift retention authority. The property will then lose its identity as a gift and you must account for it in the same manner as Federal personal property acquired from authorized sources. You must report the property to GSA as excess when it is no longer needed. (c) You must report the gift to GSA when the gift is offered with no conditions or restrictions and your agency does not have gift retention authority. GSA will offer the property for screening for possible transfer to a Federal agency or convert the gift to money and deposit the funds with the U.S. Treasury as miscellaneous receipts. If your agency is interested in keeping the gift for an official purpose, you must annotate your interest on the SF 120 and submit an SF 122.