U.S. Postal Service: Deteriorating Financial Outlook Increases Need for Transformation.

摘要

The report responds to your request in March 2001 that we assess the financial condition of the U.S. Postal Service (USPS) and its long-term outlook as well as the financial, operational, and structural issues that may affect USPS's ability to carry out its mission. The committee and subcommittee expressed concern about the deteriorating financial situation of USPS and requested our review to help improve the understanding of USPS's current financial situation; the causes of the anticipated financial deficits; and the implications in the short term and long term on USPS's financial condition, operations, and customers. Accordingly, the specific objectives of our review were to (1) assess USPS's fiscal year 2001 financial results and its long-term outlook; (2) discuss the legal requirements and practical constraints that need to be addressed as well as selected options to be considered for USPS to achieve a successful transformation to overcome its financial, operational, and human capital challenges; and (3) discuss information on actions USPS has taken to implement recommendations we made to it in April 2001 related to its financial situation.