The USPS year-end financial figures for 2006

The FY2006 year-end financial figures were released today by Chief Financial Officer and Executive Vice President H. Glen Walker during the Board of Governors’ meeting. Total revenue was USD72.8 billion, and total expenses were USD71.9 billion, a 4.9 percent increase over the previous year. The net deficiency, after including a USD3 billion escrow allocation, as required by law, was USD2.1 billion. While the mail volume decline continued for First-Class Mail (0.5 percent decrease from the previous year), Walker said growth in Standard and Priority Mail helped increase overall mail volume to 213 billion pieces. Walker also reported that the fiscal year ended with a record consecutive year in positive total factor productivity. Total Factor Productivity increased by 0.4 percent in FY2006.