Supply Management

USPS Headquarters Managers and Field Installation Heads: Semi-Annual Capital Property Reviews

USPS® has instituted a new policy that requires Head­quarters (HQ) and field units to conduct a review of ran­domly sampled capital property assets selected by HQ, Accounting Policy, and transmitted by Supply Manage­ment twice a year. The Semi-Annual Capital Property Reviews will identify discrepancies between what is reported on the corporate books and what can be physi­cally verified. The Semi-Annual Capital Property Reviews will steadily improve the data integrity of our accounting systems and, consequently, bring the USPS into compli­ance with the Sarbanes-Oxley Act (SOX).

The next Semi-Annual Capital Property Review will commence on March 2, 2009, and is to be completed by March 20, 2009. The actual list of items to be verified by each finance number selected will be sent out by e-mail from “Materials, Customer Service — Topeka, KS.”

The district material management specialists (DMMSs) will provide instructions and guidelines on how the Semi-Annual Capital Property Reviews are to be conducted by the field and by the Material Service Centers (MSCs) for the HQ groups. Until Handbook AS-701, Material Manage­ment, is revised, the instructions and guidelines provided by the DMMSs and MSCs will supersede Handbook AS–701 where there are conflicts.



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