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089849 1 (1976-08-09)

handle is hein.gao/gaobacvuc0001 and id is 1 raw text is: UNITED STATES GENERAL ACCOUNTING OFFICE WASHINGTON RCGIONAL OFFICE COU FIFTH FLOOR 803 WEST BROAD STRECT FALLS CHURCH, VIRGINIA 22046 AUG 9 19i6 Mr Seymour Berry Assistant Director (Administration) Bureau of Engraving and Printing Washington, D C. 20228 Dear Mr. Berry: We have completed our work on the examination of the financial statements of the Bureau of Engraving and Printing Fund Mrz fiscal years 1974 and 19751 and our report to Con- gres is being prepared. We believe it would be useful to summarize for you certain matters noted during our review which will not be discussed in our report to the Congress, but which we feel warrant your attention. These matters have been discussed with members of your staff INVENTORY MANAGEMENT During our observation of the physical count of selected inventory on June 30, 1975, and December 2, 1975, we noted that the opportunity exists to improve the Bureau's proce- dures in the inventory management area. Our thoughts on this matter are detailed in the following sections Need to improve inventory layout Good physical layout of inventory is essential for assuring proper inventory counts, minimizing time required to locate and transport needed items, dnd minimizing loss from easily damaged stock. During the inventory taking, we roted that in many instances Bureau stock was stored in more than one location, and locater cards were unreliable. We could not have counted some items without a Bureau employee being present who could find the stock and, even then, there was no assurance that all locations had been identified For example, for one item we were told the count was complete and later found additional stock.

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