The Postal Service develops a range of financial projections as part of its financial planning. A financial projection is an estimate or forecast of a future situation or trend based on a study of present and historical trends. The main projection the Postal Service completes is the annual financial plan, which estimates revenue, volume, and expenses for each fiscal year. The fiscal year (FY) 2020 plan was approved by the U.S. Postal Service Board of Governors in February 2020. On March 13, 2020, the President of the United States issued the national emergency declaration concerning the COVID-19 pandemic (pandemic). During the ongoing pandemic, the Postal Service has provided essential services as part of the nation’s critical infrastructure by continuously processing and delivering mail and packages. The pandemic continues to have an unpredictable impact on the economy, the Postal Service, and Postal Service finances. Our objective was to evaluate the reasonableness of the Postal Service’s projected financial scenarios as a result of the impact of the pandemic.
Wednesday, February 10, 2021
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