USPS: The year in finances – Corbett delivers update in new video

Chief Financial Officer Joe Corbett discusses the Postal Service’s year-end financial report in his latest “Dollars and Change” video. USPS recently reported $73.1 billion in operating revenue for fiscal year 2020 (Oct. 1, 2019-Sept. 30, 2020) and $82.2 billion in operating expenses, leaving the organization with a net loss of $9.2 billion. First-Class Mail and…

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USPS: Year-end finances reported – $9.2 billion net loss

The Postal Service has reported its financial results for fiscal year 2020 (Oct. 1, 2019-Sept. 30, 2020). Here are some highlights: • Revenue. Operating revenue was $73.1 billion, up 2.8 percent from the previous fiscal year, driven by a 25.3 percent increase in shipping and package revenue. First-Class Mail revenue fell 2.7 percent, while Marketing…

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USPS OIG Shutdown Plan – FY 2020

Brief summary of significant agency activities that will continue during a lapse: The United States Postal Service does not cease operations during any Federal lapse in appropriations as it is funded through a permanent no-year appropriation. In contrast, the U.S. Postal Service Office of Inspector General (OIG) receives an annual appropriation which is derived from…

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