Project Title: Field Material Handling Projects Start Date: Monday, March 27, 2017 Estimated Report Release Date: September 2017 The U.S. Postal Service has one of the largest material handling systems in the world for moving mail. There are more than 200 miles of conveyors and more than 8,500 pieces of mail processing equipment used to…
Background The Postal Reorganization Act of 1970 requires annual audits of the U.S. Postal Serviceâs financial statements. In addition, the Postal Accountability and Enhancement Act of 2006 requires the Postal Service to comply with Section 404 of the Sarbanes- Oxley Act (SOX). This section requires the Postal Service to report the scope and adequacy of…
Fiscal Year 2016 Annual Report to the President and Congress
Press Release – November 16 2016 WASHINGTON â Today, U.S. Senator Tom Carper (D-Del.), top Democrat on the Senate Homeland Security and Governmental Affairs Committee, released the following statement in response to the announcement that the U.S. Postal Service (USPS) reported a net loss of $5.6 billion in fiscal year 2016. This report comes after…
Statement from Fredric Rolando, president of the National Association of Letter Carriers, on USPSâ annual financial report: Todayâs Postal Service financial report shows a $610 million operating profit for Fiscal Year 2016, demonstrating the strength of the postal turnaround. USPS now has three straight years of operating in the black, with a total operating profit…
The chief executive of the U.S. Postal Service was paid less than one tenth of what her counterparts at competitors UPS and FedEx received last year. Postmaster General Megan Brennan’s salary during Fiscal Year 2016 was $286,137, the USPS revealed today in a financial statement (Page 72 of this PDF). The total value of her…
The Postal Service has reported a net loss of approximately $5.6 billion for fiscal 2016 (Oct. 1, 2015-Sept. 30, 2016), compared to a $5.1 billion loss for the previous fiscal year. The fiscal 2016 loss was driven by mandated retiree health benefits expenses. If this prefunding obligation was excluded, USPS would have recorded net income…
Feb. 2, 2015âToday, the Obama administration introduced its $4 trillion budget proposal for the federal government in Fiscal Year 2016, which begins on Oct. 1, 2015. The proposal outlines the presidentâs spending and tax priorities for the next fiscal year, as well as reform proposals for agencies such as the U.S. Postal Service. Congress is…
