U.S. Postal Service Exec Testifies Before Congress
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The Postal Service's latest fiscal year, which concluded Sept. 30, netted a $5 billion loss, and liabilities of $61 billion—far exceeding its $40 billion in assets. Following the first quarter of 2014, its liabilities increased by about $2 billion when it netted another $354 million in losses. That $63 billion include $18.1 billion earmarked for retiree health benefits, $15.9 billion dedicated to workers' compensation and another $15 billion in debt.
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Amanda L. Cole
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Amanda L. Cole is the editor-in-chief of NonProfit PRO. She was formerly editor-in-chief of special projects for NonProfit PRO's sister publication, Promo Marketing. Contact her at acole@napco.com.
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