Profit from additional features by authenticating your Admin account. A paid subscription is required for full access. Using a qualitative assessment of the Postal Service’s finances, the Commission has determined that: A January 2014 report by the inspector general of the USPS suggested that the agency could earn $8.9 billion per year in revenue by providing financial services, especially in areas where there are no local banks but there is a local post office, and to … Overview and forecasts on trending topics, Key figures and rankings about brands and companies, Consumer insights and preferences in various industries, Detailed information about political and social topics, All key figures about regions and countries, Everything you need to know about Consumer Goods, Identify market potentials of the digital future, Technology Market Outlook Recommended to you based on your activity and what's popular • Feedback Directly accessible data for 170 industries from 50 countries USPS. Check POST OFFICE RD rate of interest and calculate RD final amount via POST OFFICE RD Calculator on The Economic Times. myAccount allows you to access many Revenue services, using a single login and password. Postal Service reported total revenue of $19.4 billion for the first quarter of fiscal 2020 (October 1, 2019 - December 31, 2019), a decrease of $363 million, or 1.8 percent, compared to the same quarter last year. Total operating expenses came in at $19.3 billion. A post office that loses a few billion dollars a year is affordable for a country with a GDP of $20 trillion. If you sold, gifted or transferred an asset between 1 December and 31 December 2020, the deadline for payment of any Capital Gains Tax due by 31 January 2021.. 21 January 2021 Career opportunities; 19 January 2021 Revenue seize over €12,000 cash at Dublin Port; 14 January 2021 Revenue update on Preliminary End … Email didn’t kill the post office, and while the Internet didn’t help, … U.S. federal tax revenue is the total tax receipts received by the federal government each year. For the first six months of the fiscal year, revenues were $104 billion, compared to $74 billion for the same period last year, an increase of 40 percent. Reuters. The USPS defines controllable income … The highest Post Office in the United States is located in Alma, CO (80420), at 10,578 feet above sea level. See More "United States Postal Service's Revenue from 2004 to 2020 (in Billion U.S. USPS has lost $69 billion over the past 11 fiscal years—including $3.9 billion in fiscal year 2018. Write both the destination and return addresses clearly or print your mailing label and postage. Stay safe and secure online For the 2015 fiscal year, the Postal Service recorded a net loss of $5.1 billion, compared with a loss of $5.5 billion in 2014. http://about.usps.com/who-we-are/financials/welcome.htm, https://usps.webex.com/usps/onstage/g.php?MTID=e3161da429260c672d3fe035cac2519ab, http://about.usps.com/news/electronic-press-kits/cfo/welcome.htm. The Postal Service reported a net loss for the year of $3.9 billion, an increase in net loss of $1.2 billion compared to 2017. Postal Service media resources, including broadcast quality video and audio and photo stills, visit the USPS Newsroom. WASHINGTON – The U.S. During the fourth quarter of 2018, the Governors of the Postal Service made a decision to reduce the organization's debt level to reduce interest rate costs and to better reflect actual borrowing needs. Excessive Losses. The US government demands that the post office lose a lot of money. Please authenticate by going to "My account" → "Administration". In the four fiscal years since 2007, despite the worst recession in 80 years, despite Internet diversion, revenues from postal operations exceeded costs by $611 million. BoxOfficeMojo.com by IMDbPro - an IMDb company. Number of cars sold in the U.S. 1951-2019, Gas prices in the United States 1990-2020, Automotive industry worldwide - statistics & facts, Motorcycle Industry in the United States - statistics & facts, Research expert covering aviation, aircraft , rail and train manufacturing and the logistics industry, Profit from additional features with an Employee Account. Follow us on Twitter, Instagram, Pinterest, and LinkedIn. For U.S. By the end of the decade, the semi-independent government agency's losses had reached a record $8.5 billion, forcing the Postal Service to consider seeking an increase in its $15 billion debt ceiling or face insolvency. As soon as this statistic is updated, you will immediately be notified via e-mail. Expenses for workers compensation and retiree health benefits increased by $801 million and $221 million, respectively, largely attributable to changes in actuarially determined expenses outside of management's control. Selected FY 2018 and 2017 Results of Operations and Controllable Loss This news release references controllable loss, which is not calculated and presented in accordance with accounting principles generally accepted in the United States (GAAP). These adjustments include workers’ compensation expenses caused by actuarial revaluation and discount rate changes, and the amortization of PSRHBF, CSRS and FERS unfunded liabilities. In 2018, First-Class Mail volumes declined by approximately 2.1 billion pieces, or 3.6 percent, while package volumes grew by 394 million pieces, or 6.8 percent, continuing a multi-year trend of declining mail volumes and increasing package volumes. The net loss of nearly $2.3 billion comes on the heels of an already bleak fiscal year that saw a combined loss of $3.6 billion—$2.1 billion in quarter two and $1.5 billion in quarter one. E-commerce packages account for most of the USPS Parcel Select business, which brought in revenue of $6.8 billion on the delivery of 2.9 billion packages during the fiscal year ended Sept. 30, 2019. As a Premium user you get access to the detailed source references and background information about this statistic. The Postal Service reported total revenue of $17.6 billion for the third quarter of fiscal 2020, an increase of $547 million, or 3.2 percent, compared to the same period last year. One of Amazon’s biggest expenses are shipping costs, which include expenses for sortation, transportation, and outbound delivery by the Postal Service, private carriers, and regional shippers. Our network includes 15,036 street posting boxes, 5,412 motorbikes, 4,691 delivery vans, trucks, cars and utes, 1,235 electric delivery vehicles, 2,529 electric bikes, up to 17 airline freighters chartered each day, 481 facilities and 33,039 parcel lockers. Postal Services (USPS) has experienced a year … United States Post Office mail truck (USPS) parked in Miami, Florida (iStock) As many as 12,000 postal workers have contracted COVID-19 and at least 64 workers have died from the virus. A post office, particularly a rural post office, cannot be targeted for closure simply because it’s not bringing in enough revenues to cover its costs. facts. 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Buena Vista had a box office market share of 26 percent that year, up from 21.8 percent the previous year. You can register for myAccount or you can access it using your MyGovID verified account. Postal Service reported operating revenue of $70.6 billion for fiscal year 2018 (October 1, 2017 - September 30, 2018), an increase of $1.0 billion compared to the prior year. Spreadsheets FYI- Online services are available 24/7 via MyTax.DC.gov. Statista. Then you can access your favorite statistics via the star in the header. More than 6.6 million passport applications were accepted at Post Offices during 2019. Postal Service revenue from passport applications was $298 million. Compared to the same quarter last year, Marketing Mail revenue declined by $1.4 billion, or 37.2 percent, on a volume decline of 6.4 billion pieces, or 36.4 percent. However, the flawed business model imposed by law continues to be the root cause of our financial instability. The Post Office Lost $2 Billion In Just 3 Months. Controllable loss is defined as net loss adjusted for items outside of management’s control and non-recurring items. This feature is limited to our corporate solutions. Quick Analysis with our professional Research Service: Content Marketing & Information Design for your projects: Industry-specific and extensively researched technical data (partially from exclusive partnerships). The postage rate was based on the number of sheets in the letter and the distance it would travel. "Making the pre-funding payments in full or in part would have left the Postal Service with insufficient liquidity to ensure the continued achievement of our mission.". FY 2018 Operating Revenue and Volume by Service Category Compared to Prior Year The following presents revenue and volume by service category for the year ended September 30, 2018, and 2017: (revenue in $ millions; volume in millions of pieces). 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