This report presents the results of our self-initiated audit of Stamp Stock Shipments’ Claims for Losses in the [redacted] District. The [redacted] District is in the Capital Metro Area.
The U.S. Postal Service Office of Inspector General’s (OIG) data analytics identified $294,031 for net stamp stock shipment losses1 was expensed by U.S. Postal Service [redacted] District units for fiscal year (FY) 2019. Net stamp losses for most districts nationwide were less than $40,000 for FY 2019. [redacted] District losses rose substantially in the last two years, increasing 1,012 percent from FY 2018 to FY 2019. Losses at the end of the third quarter2 for FY 2020 are already higher compared to FY 2019.
[Redacted] District stamp net losses were 26 percent of the nationwide total for FY 2019 and 45 percent for FY 2020, as of June 30, 2020.