You’ve probably noticed that wherever you go in this country, it’s pretty easy to find a post office. After all, the U.S. Postal Service has the largest retail network in the country, using its more than 31,000 locations to provide vital services like mailing and shipping, passport processing, and money orders to the American public. But did you ever wonder if post offices produce enough revenue to cover their operating costs?
Like just about everything else, elevators age and break down. Just ask the U.S. Postal Service, which operates about 1,200 elevators — used to move mail as well as people — at more than 500 facilities nationwide. A little more than five years ago, the Postal Service established the Elevator Modernization Program (EMP) to improve reliability for mail processing operations and ensure industry standards are maintained. Since early 2016, the EMP has modernized 121 elevators at 53 facilities to the tune of about $146 million.
In any organization the size of the U.S. Postal Service, financial forecasting plays an important role. Accurate forecasting of revenue, volume, and expenses is essential to planning budgets, understanding future cashflows, identifying risk areas, and deciding where to invest capital.