USPS: Financial results reviewed in video

In his latest “Dollars and Change” video, Chief Financial Officer Joe Corbett reviews the Postal Service’s financial results for fiscal 2019’s first quarter (Oct. 1-Dec. 31, 2018). “The major trends in our business continue,” he says. USPS recorded $19.7 billion in total revenue, but operating expenses were $21.2 billion, leaving the organization with a net…

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APWU: New Social Security Legislation Introduced

02/19/2019 – On Feb. 14, Sen. Bernie Sanders (I-VT) introduced the “Expand Social Security Act,” legislation that would expand benefits and add almost 50 years of solvency to the program. Social Security, in its current form, is paying out more money to recipients than it takes in, and will no longer be able to pay…

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USPS OIG: Excess Space Available

The U.S. Postal Service owns roughly 8,400 properties and leases more than 23,000 others with annual rents totaling more than $800 million. Yet, the Postal Service has “excess space” — property or space not used or needed. Under the Federal Property Management Reform Act (FPMRA) of 2016, the Postal Service is required to identify and…

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UPMA supports H.R. 141, the Social Security Fairness Act

United Postmasters and Managers of America supports H.R. 141, the Social Security Fairness Act for the 116th Congress. Many UPMA current and future retired members are impacted by the GPO and WEP provision in the current Social Security Act. This Legislation would eliminate 2 titles of the Social Security Act, the (GPO) and the Windfall…

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USPS: First-quarter financial results reported

The Postal Service has reported its financial results for fiscal 2019’s first quarter (Oct. 1-Dec. 31, 2018). Here are some highlights: • Revenue. Total revenue was $19.7 billion, up 2.9 percent compared to the same period one year earlier. First-Class Mail revenue declined 1.2 percent, while Marketing Mail revenue increased 4.9 percent. Shipping and packages…

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Communities and Postal Workers United Newsletter – Winter 2019

Source: Communities and Postal Workers United

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USPS BOG to meet Feb. 8

Board meeting. The USPS Board of Governors’ temporary emergency committee (TEC) will meet Friday, Feb. 8, in Columbus, OH. Without a legally required quorum, the board is conducting functions necessary for continuity of operations through the TEC, which the board created in 2014. Last week’s news release has more information. Source: USPS

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USPS OIG: FY 2018 Selected Financial Activities and Accounting Records

Objective Our audit objectives were to determine whether the U.S. Postal Service: Fairly stated accounting transactions in the general ledger and whether selected controls surrounding those transactions were designed and operating effectively. Properly tested, documented, and reported its examination of selected key financial reporting controls related to Headquarters and Accounting Services. The Postal Reorganization Act…

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