41 C.F.R. § 102-39.70 What are the accounting requirements for the proceeds of sale?
Title 41 - Public Contracts and Property Management
You must account for sales proceeds in accordance with the general finance and accounting rules applicable to you. Except as otherwise directed by law, all proceeds from the sale of personal property under this part will be available during the fiscal year in which the property was sold and for one fiscal year thereafter for obligation for the purchase of replacement property. Any sales proceeds not applied to replacement purchases during this time must be deposited in the United States Treasury as miscellaneous receipts.
Title 41: Public Contracts and Property Management
PART 102–39—REPLACEMENT OF PERSONAL PROPERTY PURSUANT TO THE EXCHANGE/SALE AUTHORITY
Subpart C—Exchange/Sale Methods and Reports
§ 102-39.70 What are the accounting requirements for the proceeds of sale?
