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As the Postal Service speeds the pace of innovation, stays competitive by offering new products, and works to lower costs, we still face financial challenges. Our organization continues to work with Congress and key stakeholders to develop legislation that would provide us with the financial stability to invest in our future and continue to be an engine of growth. Our revenue increased in 2015 compared to the prior year, although mail volume continues to decrease and our deficit continues to grow. This is due in part to customers transitioning from mail to digital correspondence, and rising operating expenses.
In 2015, we invested $15.7 billion in other operating expenses to include the purchase of property and equipment, an increase of $632 million from 2014. This funding supports building improvements, vehicles, equipment and other capital projects that will modernize and make our operations more sustainable. We’ve established initiatives to improve operations and bolster financial security while effectively fulfilling our mission. The USPS FY 2015 Integrated Financial Plan includes efforts to concentrate capital spending on aging mail processing equipment and vehicles as well as customer service, consumables, support equipment and facilities.
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