The USPS could find savings through tighter oversight of property leases, says an inspector general report that found incomplete and inaccurate data in records of that portfolio.
“The Postal Service’s financial position, the cost and service challenges of relocating, and vulnerability to rental rate fluctuations make strong lease management essential to minimizing cost risks,” it said.
The IG’s estimate of potential savings was redacted in the publicly issued version of the report, but it showed that the USPS spends more than $1 billion yearly to lease nearly 23,000 of the 31,000 real properties where it operates. Those costs are rising, “driven by higher commercial rents” overall, and also due to “operational dependence on existing, deeply customized facilities, which makes relocating costly and could also result in service-related challenges for customers.”
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