OIG Report: Internal Controls Over Single Drawer Accountability – [Redacted] Post Office

Background U.S. Postal Service management reported stock shortages at a remotely managed post office in [redacted] in June 2016 and November 2016. The reported shortages were $1,706, or 34 percent, and $1,051, or 21 percent, respectively, of the office’s total authorized limit of $5,000 for cash and stamp stock. A remotely managed post office offers…

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Video: USPS CFO Joe Corbett reports second-quarter financials

The Postal Service’s second-quarter operating revenue rose to $17.7 billion, a 4.7 percent increase over the same period last year, Chief Financial Officer Joe Corbett reports in his latest “Dollars and Change” video message. Corbett attributes the rise to double-digit increases in shipping and package volumes, pricing strategies and the performance of USPS employees. “January…

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APWU: Postal Service’s Financial Report Brings Good News

Web News Article #: 215-2015 11/16/2015 – The Postal Service’s latest financial report, which showed an operating profit of $1.2 billion, is good news, said APWU President Mark Dimondstein. “The report shows there is absolutely no justification for cuts in service to the American people or to the wages and benefits of postal employees,” he…

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NALC President Rolando’s statement on USPS’ FY2015 financial report

November 13, 2015 The U.S. Postal Service today released its financial report for Fiscal Year 2015, covering the period from Oct. 1, 2014, through Sept. 30, 2015. Here is a statement from National Association of Letter Carriers President Fredric Rolando: The $1.2 billion in annual operating profits reported today by the Postal Service is terrific…

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USPS financial results: Total revenue rose 1.6 percent in fiscal 2015

The Postal Service’s total revenue for fiscal 2015 (Oct. 1, 2014-Sept. 30, 2015) was $68.9 billion, up 1.6 percent from one year earlier. The net loss was $5.1 billion, due to certain statutorily mandated payments over which the Postal Service has no control. Controllable income was $1.2 billion. Controllable income is defined as net loss…

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Postal Service, unions and lawmakers at odds over need for legislation

(August 12, 2014) The Postal Service, lawmakers and postal unions are still butting heads over whether the improving financial situation at the agency undermines the argument for expansive postal legislation. The Postal Service saw its operating revenue increase by more than $327 million over the same time last year led by an increase in packages,…

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Postal Service Reports $1.9 Billion Quarterly Loss

WASHINGTON — The financially troubled Postal Service on Friday posted a net loss of $1.9 billion in the second quarter, the same amount the agency lost over the same period in 2013, postal officials said. But the agency did report operating revenue of $16.7 billion, a $379 million increase over the same period last year….

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