USPS to announce 2017 financial results on November 14

WASHINGTON — The Temporary Emergency Committee of the Board of Governors of the U.S. Postal Service (“TEC”) will meet November 14 in open session at Postal Service headquarters, 475 L’Enfant Plaza, SW, Washington, DC. The public is welcome to observe the meeting beginning at 8:00 a.m. ET in the Ben Franklin Room on the 11th floor. The TEC is expected to discuss the following items: Continue reading

The Case of the Ghostly Governor

How a Governor who left office in 2016 authorized USPS rates for 2018…

Note: the Billbray letter was pointed out to us by a former postal official, and was first reported on by postalmag.com. Some reports have referred to the Billbray letter as “postdated”, which is not accurate, since the letter is dated November 14, 2016, presumably the actual date it was signed- even though it was not filed with the PRC until almost a year later. Continue reading

USPS posts $12 million operating profit for second quarter

From the US Postal Service:

  • Operating revenue impacted by the expiration of the exigent surcharge
  • Net loss of $562 million
  • Urgent need to advance postal reform legislation

WASHINGTON — Although the U.S. Postal Service posted modest controllable income for the second quarter of fiscal year 2017 (January 1, 2017 – March 31, 2017) of $12 million, it fell well short of the $576 million that it had for the same quarter last year. This reduction was driven by the April 2016 expiration of the exigent surcharge, which would have generated approximately $500 million in additional revenue during the quarter had it remained in place, and to a lesser extent, a $69 million increase in controllable operating expenses. Continue reading

OIG: Update for Measuring Pension and Retiree Health Benefits Liabilities

Background

The U.S. Postal Service provides pension and health insurance benefits to its retirees. Postal Service employees participate in the Civil Service Retirement System (CSRS) or Federal Employees Retirement System (FERS) pension programs. The Office of Personnel Management (OPM) administers these programs, including projecting future CSRS and FERS assets and liabilities for the federal government and Postal Service. Continue reading

USPS seeks an end to postage price cap

From USPS News Link:

USPS is offering comments on the 10-year pricing system review being conducted by the Postal Regulatory Commission (PRC).

Under a 2006 postal law, the PRC must review the system used for regulating rates and classes for market-dominant products, including First-Class Mail, USPS Marketing Mail and other mail categories. Continue reading

APWU: Postal Reform Act of 2017 Moves Forward

From the American Postal Workers Union:

03/20/2017 — On March 16, the House Oversight and Government Reform Committee “marked-up” and approved the Postal Reform Act of 2017 (H.R. 756). A mark-up is a formal process where a congressional committee can consider and amend a bill before advancing it to the full House of Representatives or Senate.

Recognizing the need to set the Postal Service on sound financial footing, the APWU supported H.R. 756 advancing through committee. The favorable vote to move the bill out of the Oversight Committee is one of several key steps in a lengthy legislative process. Continue reading