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10
SUBSEQUENT EVENT
Subsequent to the
close of the fiscal year, the United States became the target of biological
terrorism. These activities affected the Postal Service because the infectious
biological agents were sent by mail, causing the death of two employees,
the curtailment of mail services in some areas, the decline in mail volume
and necessitating the development of and investment in new health and
safety measures. The costs of terrorism and health and safety investments
and the amount of decreased mail volumes cannot be quantified at this
time. The President of the United States has authorized an initial funding
of $175 million for fiscal year 2002 to assist in paying for these measures.
It is anticipated that additional cash requirements resulting from the
impact of terrorism and our related health and safety investments will
be funded through a combination of debt, appropriations and rate increases.
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