USPS: FY 2020 Annual Report to Congress

The Postal Service delivered 129.2 billion mailpieces to 161 million addresses across the nation during fiscal year 2020, the organization says in its Annual Report to Congress. The report, which USPS published last month, covers the period from Oct. 1, 2019-Sept. 30, 2020. In addition to an overview of the organization’s finances, the 64-page document…

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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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