The Board had four standing committees: Audit and Finance, Capital Projects, Strategic Planning, and Board Governance. The committees held meetings during the year to consider matters within their areas of responsibility and referred items to the full Board for consideration.

In November 2004 the Governors approved two Postal Rate Commission Opinion and Recommended Decisions, one relating to Priority Mail service and the other relating to a negotiated service agreement. The Board also approved a filing with the Postal Rate Commission concerning an experimental new Premium Forwarding Service. The Board also approved its meeting schedule for the 2005 calendar year, the budget for the Office of the Governors, and capital funding for the Intelligent Mail Data Acquisition System.

In December 2004 the Board approved the audited 2004 financial statements, the 2004 Annual Report and the 2006 appropriation request to Congress. The Board also approved additional capital funding for biohazard detection equipment and new capital funding for logistics and distribution centers in Bethpage, New York, and Kearny, New Jersey.

In January 2005 James C. Miller III was elected Chairman of the Board and Alan C. Kessler was elected Vice Chairman. The Board approved the annual report on Government in the Sunshine Act Compliance, a resolution on capital funding, and the 2004 Comprehensive Statement on Postal Operations. The Board approved capital funding for the Southern Maine Processing and Distribution Center. The Governors also approved the Postal Rate Commission Opinion and Recommended Decision concerning Repositionable Notes.

In February 2005 the Governors approved, under protest, implementation of the Postal Rate Commission Opinion and Recommended Decision concerning a negotiated service agreement. The Decision was resubmitted to the Commission for reconsideration. The Board also approved a filing with the Postal Rate Commission for a new negotiated service agreement. The Board also approved capital funding for the Atlantic City, New Jersey Main Post Office.

At a special meeting on March 31, 2005, the Board approved the filing of an across-the-board omnibus rate case with the Postal Rate Commission to cover the required escrow payment.

In April 2005 the Governors and the Postmaster General selected Patrick R. Donahoe to be the Deputy Postmaster General.

In May 2005 the Governors approved a Postal Rate Commission Opinion and Recommended Decision concerning an experimental Premium Forwarding Service.

In June 2005 the Governors approved a Postal Rate Commission Opinion and Recommended Decision concerning a negotiated service agreement. The Board approved a filing with the Postal Rate Commission for another negotiated service agreement. The Board approved the following capital investment projects: Modification to Automated Package Processing System; Flats Recognition Improvement Program Phase II; 1,406 Tractors and 382 Spotters; and 3,120 Carrier Route Vehicles.

In August 2005 the Board approved capital investments for the Postal Automated Redirection System Phase II and Distribution Quality Improvement.

In September 2005 the Board approved a filing with the Postal Rate Commission to make permanent an experimental parcel return service. The Board approved additional funding for the Kansas City, Missouri, Main Post Office. The Board approved its schedule of meetings for calendar year 2006 and the Governors approved the budget for the Postal Rate Commission for 2006. The Board approved the Strategic Transformation Plan 2006 - 2010 and the 2006 Annual Performance Plan in compliance with the GPRA. The Board also approved the Postal Service 2006 operating and capital investment plans.