US Postal Service 2008 Annual Report Download - page 45

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2008 Annual Report United States Postal Service | 45
Management is responsible for the preparation, integrity,
and fair presentation of the financial statements of the
Postal Service.
Disclosure Controls
We maintain disclosure controls and procedures that are
designed to ensure that information required to be disclosed
in our quarterly and annual reports is recorded, processed,
summarized, and reported within the time frames specified
by P.L. 109-435, and that this information is accumulated
and communicated to our management, including the Post-
master General and Chief Financial Officer, as appropriate,
to allow timely decisions regarding required disclosure. In
designing and evaluating the disclosure controls and pro-
cedures, we recognize that any controls and procedures,
no matter how well designed and operated, can provide
only reasonable assurance of achieving the desired control
objectives, and we were required to apply our judgment in
evaluating the cost-benefit relationship of possible controls
and procedures.
We carried out an evaluation, under the supervision and
with the participation of management, including the Post-
master General and Chief Financial Officer, of the effective-
ness of the design and operation of disclosure controls
and procedures as of September 30, 2008. Based on the
foregoing, the Postmaster General and Chief Financial Of-
ficer concluded that our disclosure controls and procedures
were effective at the reasonable assurance level as of Sep-
tember 30, 2008.
Internal Controls
There have been no changes during the year covered by
this report in our internal control over financial reporting or
in other factors that have materially affected, or are rea-
sonably likely to materially affect, our internal control over
financial reporting.
Controls and Procedures