Ever since the Postal Service “defaulted” on its annual $5.5 billion payment to the U.S. Treasury for retiree pre-funding obligations, it has been assumed that USPS is a pauper agency. But a new white paper issued by the USPS Office of Inspector General concludes that the value of the Postal Service’s real estate holdings, and

The Postal Service spent $2.8 billion on 16,993 Highway Contract Route (HCR) contracts in 2011, according to a newly released audit report by the U.S. Postal Service Office of Inspector General (OIG).  The OIG conducted the audit to assess the integrity of data in the Transportation Contract Support System (TCSS). OIG found the TCSS data is accurate. In a spot-check of 196 sampled contracts, OIG did not find a single data error. But there was one area of disagreement with management. OIG contended that 94% of the sampled contracts did not have proper funding approval documentation prior to contract award. Postal management disagreed with this conclusion, saying that advance funding approval was obtained through other methods.
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