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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USPS OIG Report: Marketing Mail Letters Workshare Discounts

Objective The U.S. Postal Service offers a postage rate discount to mailers for presorting, pre-barcoding, handling, or transporting of mail. These workshare discounts incentivize mailers to perform specific activities that the Postal Service would otherwise have to perform. They allow the Postal Service to increase operational efficiencies, avoid some mailing costs, stimulate mail volume growth,…

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PRC Requests Retiree Health Benefit Fund (RHBF) Liability Examination

Request for Proposal (RFP) For Retiree Health Benefit Fund (RHBF) Liability Examination 1. Introduction and Purpose of the Request for Proposal (RFP) 1.1. Background on Retiree Health Benefit Fund (RHBF) The Postal Regulatory Commission (PRC or Commission) is an independent establishment of the executive branch of the federal government with regulatory oversight over the United…

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PRC Issues FY 2017 Annual Report to the President and Congress

Submitted and Accepted January 26, 2018 On behalf of the Postal Regulatory Commission, I am pleased to submit the Commission’s Fiscal Year 2017 Annual Report to the President and Congress. This report summarizes the Commission’s key accomplishments and activities over the past year. It also provides information required under the Postal Accountability and Enhancement Act…

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USPS OIG Report: Compensation, Benefit, and Bonus Authority in 2016

Background The Postal Accountability and Enhancement Act of 2006 (PAEA) amended 39 U.S.C. by revising the limits on salary and total compensation paid to U.S. Postal Service employees. For calendar year (CY) 2016, basic annual salary for each employee was limited to $205,700. Under a bonus or reward program approved by the U.S. Postal Service…

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Congressional Research Service Issues Summary of H.R. 756, Postal Service Reform Act of 2017

Postal Service Reform Act of 2017 TITLE I–POSTAL SERVICE BENEFITS REFORM This bill requires the Office of Personnel Management (OPM) to establish a Postal Service Health Benefits Program within the Federal Employees Health Benefits Program to offer health benefits plans for U.S. Postal Service (USPS) employees, annuitant retirees, and their families at rates that reflect…

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OIG Report: FY 2016 Postal Service Selected Financial Activities and Accounting Records

Background The Postal Reorganization Act of 1970 requires annual audits of the U.S. Postal Service’s 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…

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PRC Recommends the President and Congress Address Financial Condition of USPS

Press Release – November 14, 2016 Washington, DC – The Postal Regulatory Commission (Commission) today made its recommendations to the President and Congress to address the volatile financial condition of the U.S. Postal Service. The Commission is required every five years under Section 701 of the Postal Accountability and Enhancement Act of 2006 (PAEA) to…

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