Jersey's Audit Office say that the States are not managing its assets efficiently or effectively.
A report into the management of some of the land and buildings it owns has revealed that many of the objectives established in 2005 to maintain them, has not been achieved.
Jersey Property Holdings have a portfolio of 500 operational buildings which are valued up to £1billion.
The States has a budget of £12million to maintain them.
The review did not include Andium Homes, Ports of Jersey and the States of Jersey Development Company.
The Comptroller and Auditor General, has said many recommendations presented over a decade ago, had not been secured and meant the benefits of better managing its properties had not been achieved.
She also went onto say that she was concerned about plans for a new States office building.
However the report did commend the Chief Executive's Target Operating Model, which aims to adopt a corporate management style of the buildings.
In response, the States say they will address the issues raised in the report and have welcomed the backing for a corporate style of management.
Despite her findings in the report, Ms McConnell says her recommendations have been "positively" received by officers and she expects "prompt and effective" changes to be made.