USPS: Inability to make mandated retiree health benefit payments won’t impede operations

10/2/2017 Similar to prior years since 2012, USPS did not make mandated end-of-year payments to prefund retiree health benefits. In addition, USPS did not make payments on liabilities to the Federal Employees’ Retirement System and the Civil Service Retirement System. The Postal Service will continue to deliver the mail and will pay employees and suppliers, […]

USPS reports $552 million net loss without prefunding for FY 2016 Third Quarter

Net loss for quarter of $1.6 billion Continued double-digit growth in revenue and volume in the Shipping and Packages business Enactment of postal reform legislation remains urgently needed WASHINGTON — Excluding a change in accounting estimate recorded during the quarter, the U.S. Postal Service reported operating revenue of $16.6 billion for the third quarter of […]

USPS Reports FY 2016 Second Quarter Results – Operating Profit $1.8 billion without prefunding

Operating revenue grew 4.7 percent to $17.7 billion Controllable income totaled $576 million; net loss of $2.0 billion reported Postal Service revenue benefited from exigent surcharge, which expired on April 10, 2016 Legislative reform and focus on innovation and efficiency remain necessary  WASHINGTON — The U.S. Postal Service reported operating revenue of $17.7 billion for […]

USPS Reports $248 million profit for month of February 2016

According to a report filed with the Postal Regulatory Commission, the U.S. Postal Service reported operating revenue (without the mandatory prefunding for healthcare) of $248 million for the month of February of fiscal year 2016, an increase of $172 million over the same period last year. Net income for February (mandatory prefunding for healthcare) the was […]

OIG White Paper: USPS financial condition, higher postage rates due to prefunding

USPS OIG White Paper: Considerations in Structuring Estimated Liabilities Be Careful What You Assume: Postal Service closer to being fully funded, or potentially overfunded February 16, 2015 – What if your credit card company told you: “You will charge a million dollars on your credit card during your life; please enclose the million dollars in […]

Deputy PMG: USPS reports quarterly losses in the $2 billion range due to pre-funding

How bad is the outlook for the Postal Service? Ronald Stroman, deputy postmaster general, doesn’t hesitate. We’re defaulting on our retiree health benefit obligations, he explains. We owe the Treasury $15 billion, he says. First class mail volume is declining about 4 percent a year, he notes. The Post Office should spend about $10 billion […]

Maine Congressman Calls on House Speaker to Bring Postal Reform Bill to Floor after Recess

WASHINGTON, DC – Congressman Mike Michaud is calling on Speaker John Boehner to prioritize legislation that would promote the stability and sustainability of the U.S. Postal Service (USPS). Rep. Michaud has sent a letter to the Speaker urging him to take action following the April recess. If Speaker Boehner refuses to act, postal facility hours […]

Letter to Editor: American people need a compelling argument to help save USPS

I just saw the commercial regarding the funding of the pension program. While it is clear that it is unfair to the Post Office that this burden has been placed on the department, it is not a compelling argument for the Public to latch on to. I have a theory as to why the Republican […]

USPS lost over $1 billion with prefunding for Jan 2014; operations income $122 million without

The USPS reported a net loss of $1.026 billion for January 2014 according to preliminary (unaudited) data submitted to the Postal Regulatory Commission (PRC). Same time last year USPS reported a net loss of $437 million. After four months into FY 2014 USPS reports a net loss of $1.4 billion. The same period last year […]