USPS Reports Net Deficit for August

Share this content:

The U.S. Postal Service generated a net deficit of $38 million before the escrow allocation during August, according to financial and operating statements released by the agency earlier this week.

The Civil Service Retirement System Funding Act requires the USPS to place $3 billion in an escrow account by Sept. 30 to cover the difference between the CSRS costs before and after the law's implementation.

The USPS said it is allocating $250 million monthly for purposes of reconciling its financial position.

After the escrow allocation, the postal service's net deficiency for July becomes $288 million.

USPS revenues for August were $6.3 billion, or $143 million over plan and 6.6 percent more than August 2005. Expenses for the month were $6.3 billion, or $223 million over plan and 6.9 percent more than same period last year.

Year-to-date revenue through July is 0.8 percent, or $507 million higher than plan and 4.2 percent above the same period last year. Year-to-date expenses are 0.8 percent, or $535 million higher than plan and $ 2.9 billion above the year-ago period.

Year-to-date net income before escrow allocation is $1.3 billion. However, the net deficiency after the escrow allocation is $1.5 billion.

Total year-to-date mail volume is 1.6 billion pieces, or 0.8 percent above the same period last year. First-Class Mail volume is 0.4 percent below last year. Standard Mail and Priority Mail are 1.8 percent and 4.6 percent above last year, respectively.


Next Article in Direct Mail

Sign up to our newsletters

Company of the Week

Since 1985, Melissa has helped thousands of companies clean, correct and complete contact data to better target and communicate with their customers. We offer a full spectrum of data quality solutions, including global address, phone, email, and name validation, identify verification - available for batch or real-time processes, in the Cloud or on-premise. Our service bureau provides dedupe, email/phone append and geographic/demographic append services for better targeting and insight. For direct mailers, Melissa offers easy-to-use address management/postal software, list hygiene services and 100s of specialty mailing lists - all with competitive pricing and excellent customer service.

Find out more here »

Career Center

Check out hundreds of exciting professional opportunities available on DMN's Career Center.  
Explore careers in digital marketing, sales, eCommerce, marketing communications, IT, data strategies, and much more. And don't forget to update your resume so employers can contact you privately about job opportunities.

>>Click Here

Relive the 2017 Marketing Hall of Femme

Click the image above