How much does it cost to develop, print, ship, inventory, secure, sell, and cancel a stamp used to mail a letter? What about the stamps that are never sold? The Postal Service destroys billions of stamps each year because they are obsolete. In FY 2008, the Postal Service printed 37 billion stamps, which cost $78 million to print. In that same year, they destroyed old stamps, some of which were printed more than 10 years ago, that were valued at approximately $2.8 billion. Those stamps were printed, shipped, counted multiple times in various inventories, and finally shipped back for des
You may have noticed that most of our blogs are based on our recent audit reports, which lets us highlight some of our work and solicit feedback from readers. Stakeholder input often provides ideas for future reports.
In fact, our ideas for audit work must be balanced between stakeholder...Read More