1992 Olympic Sponsorship--Profit or Loss Is Unknown
GGD-93-89: Published: Jul 23, 1993. Publicly Released: Jul 23, 1993.
- Full Report:
Pursuant to a congressional request, GAO reviewed the U.S. Postal Service's (USPS) sponsorship of the 1992 Olympic Games, focusing on whether the Service accurately disclosed the revenues and costs of its Olympic sponsorship.
GAO found that: (1) the Postal Service projected that revenues from its Olympic sponsorship would be $177 million, of which 55 percent would be from increased express and priority mail generated from advertising before and during the Olympics and the sale of Olympics stamps; (2) express and priority mail and stamp revenues comprised 86 percent of USPS actual revenues because of problems with other revenue-producing plans; (3) although USPS express and priority mail net revenues increased during its Olympic sponsorship, USPS could not attribute revenue increases or decreases with advertising budgets; (4) revenues from express mail and Olympic stamp sales were overstated; (5) USPS did not charge all Olympic-related costs to the sponsorship; and (6) USPS could not determine whether its Olympic sponsorship had a profit or loss due to the lack of available and accurate data.