The U.S. Postal Service holds its cash in the Postal Service Fund with the Federal Reserve Bank of New York and, traditionally, has invested its excess cash in highly liquid, overnight investments (Overnight Treasuries) issued by the U.S. Department of Treasury (Treasury), where interest rate changes are more pronounced than in longer-term investments. Postal Service cash has grown from $2.3 billion in fiscal year (FY) 2013 to $19.6 billion at year-end FY 2022.
Report File
Date Issued
Submitting OIG
U.S. Postal Service OIG
Other Participating OIGs
U.S. Postal Service OIG
Agencies Reviewed/Investigated
U.S. Postal Service
Report Number
22-035-R23
Report Description
Report Type
Audit
Agency Wide
Yes
Number of Recommendations
5
Questioned Costs
$0
Funds for Better Use
$0