U.S. Army Found Valuing HP Printers at $1.1 Million

There was a time when desktop printers were actually very expensive, costing thousands of dollars – but they were never this expensive. According to a new report from the U.S. Department of Defense Office of Inspector General (OIG), U.S. army authorities in Kuwait grossly overvalued the cost of various HP desktop laser printers and All-in-Ones – up to $1.1 million for each printer.

In its audit report, the OIG states: “For example, Kuwait accountable property records included 12 printers, each listed at $1.1 million. We reviewed the contractor GFP records and DD 1149s and found that the cost of each printer was listed as no higher than $408.

“The Kuwait accountable property records showed the 12 printers at a cost 277,150 percent higher
than both the contractor GFP records and the DD 1149s,” the report stated.

The OIG found that printers weren’t the only items that were grossly overvalued. Seventeen refrigeration units were valued at a total of $11 million, while their real total cost was $410,890.

The OIG stated this is “a potential systemic internal control weakness related to GFP cost information in GCSS-Army, which could affect the Army’s financial statements,” and has issued a management advisory memorandum to Army officials.