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Page Title: Postage Stamp Stock and Funds
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C O M M O N M I S T A K E S A N D DISCREPANCIES.—  The  following  discrepancies are routinely uncovered by area audit teams: Independent adding machine tapes for money orders  and  fees  were  not  prepared  by  the  DO.  (In addition to preparing independent adding machine tapes for money orders and fees, the DO should sign both tapes and attach them to the retained copy of the PS  Form  6019-MPO.) The   exchange-for-cash-remittance   check number was not shown on the PS Form 6019-MPO. The PS Form 6019-MPO was not stamped by the postal  clerk  with  the  all-purpose  date  stamp. The  original  and  all  copies  of  the  PS  Form 6019-MPO were not signed by both the DO and the money  order  clerk. These  common  discrepancies  can  be  avoided  by use  of  correct  procedures  and  attention  to  detail. POSTAGE STAMP STOCK AND FUNDS When designated as the reserve custodian, the DO will maintain custody of excess postage stamps and funds. The term  excess postage stamps and funds refers to any amount greater than the specific amount the custodian of postal effects (COPE) is authorized to maintain in custody. The excess stamps and funds are received and handled as a safekeeping deposit from the COPE. This deposit must be identified as a “Postage Stamp  Fund.” Stamps  are  issued  to  the  COPE  in exchange for funds derived from the sale of stamps. When the replenishment of stamps is required, postage  stamp  funds  must  be  converted  to  an exchange-for-cash check payable to the accountable postmaster for transmission with the stamp requisition. A signed copy of the Stamp Requisition, PS Form 17, must  be  filed  with  the  postage  stamp  fund  safekeeping deposit. Upon receipt and verification of the stamps requisitioned, the retained copy of the stamp requisition will  be  returned  to  the  COPE  for  the  post  office  files. The  postage  stamp  funds  must  not  be  commingled  with any  other  safekeeping  deposit  or  other  funds,  including money order funds, that are retained in the custody of the DO! UNITED STATES PUBLIC MONIES At the beginning of this chapter, we defined public funds as those monies appropriated by Congress for use by  the  Navy  Department.  In  this  section,  we  will discuss  the  requirements  for  handling  United  States public   monies. Unless   otherwise   indicated,   all references we mention in this section are contained in the DODFMR, Volume 5. Throughout this section, we will refer to this publication simply as Volume 5. In the following paragraphs, you will read about some of the special requirements for handling U.S. public  monies.  As  described  in  Volume  5,  persons appointed  to  accountable  positions  and  their supervisors must be aware of these requirements. In our previous  discussions  of  accountable  positions,  we touched  upon  some  of  these  requirements.  In  this section,  we  will  look  a  little  closer  at  the  special conditions  involved  when  accountable  persons  receive the authority to hold money at personal risk and carry out their responsibilities in handling public funds AUTHORITY TO HOLD MONEY AT PERSONAL RISK The authority to hold money at personal risk is not automatic-it must be requested and approved. The approving authority is the CO or OIC of the activity to which  the  DO,  deputies,  and  agents  are  permanently assigned. Authorization  Process To  make  sure  good  cash  management  procedures are in effect, the CO or OIC must review each request. The review must ensure each request is in line with the total  nonpayroll  requirements  for  the  activity.  Cash  for payrolls is, in fact, held at personal risk. However, scheduled   payday   cash   requirements   (including amounts needed to cash payday checks) should not be included in a request for authority to hold money at personal  risk. The CO or OIC is responsible for making sure the amount   of   the   request   is   within   the   guidelines established by Volume 5. The CO or OIC also must make sure management controls exist to guarantee routine  reviews  of  cash  requirements. Request A new request to hold cash at personal risk must be submitted at least semiannually, or whenever it is required  as  a  result  of  the  periodic  review  of  cash requirements. A new request must be submitted in time  to  allow  sufficient  approval  time  for  the authority  to  hold  cash  at  personal  risk  to  become 1-18

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