[Code of Federal Regulations]
[Title 41, Volume 3]
[Revised as of July 1, 2005]
From the U.S. Government Printing Office via GPO Access
[CITE: 41CFR102-39.70]

[Page 154]
 
           TITLE 41--PUBLIC CONTRACTS AND PROPERTY MANAGEMENT
 
               CHAPTER 102--FEDERAL MANAGEMENT REGULATION
 
PART 102-39_REPLACEMENT OF PERSONAL PROPERTY PURSUANT TO THE 
EXCHANGE/SALE AUTHORITY--Table of Contents
 
               Subpart C_Exchange/Sale Methods and Reports
 
Sec. 102-39.70  What are the accounting requirements for the proceeds 
of sale?

    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.