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As part of “Delivering for America,” its 10-year plan to achieve financial sustainability and service excellence, the United States Postal Service filed notice with the Postal Regulatory Commission (PRC) requesting price changes to take effect Aug. 29, 2021 that are in accordance with approvals provided by the PRC last year.
As part of “Delivering for America,” its 10-year plan to achieve financial sustainability and service excellence, the United States Postal Service (USPS) filed notice with the Postal Regulatory Commission (PRC) requesting price changes to take effect Aug. 29, 2021 that are in accordance with approvals provided by the PRC last year.
The proposed price changes would raise overall Market Dominant product and service prices by approximately 6.9 percent. First-Class Mail prices would increase by 6.8 percent to offset declining revenue due to First-Class Mail volume declines. In the past 10 years, mail volume has declined by 46 billion pieces, or 28 percent, and is continuing to decline. Over the same period, First-Class Mail volume has dropped 32 percent, and single piece First-Class Mail volume including letters bearing postage stamps has declined 47 percent.
PRC Releases Analysis of Postal Service Finances in FY 2020 Despite an increase in Competitive products revenue, the Commissionâs overall analysis supports the conclusion that the Postal Service is on a highly unstable financial path. April 28, 2021
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The Postal Regulatory Commission (Commission) today released its Financial Analysis, an examination of the U.S. Postal Serviceâs (Postal Service) financial results and 10-K Statements for Fiscal Year (FY) 2020. Despite an increase in Competitive products revenue, the Commissionâs overall analysis supports the conclusion that the Postal Service is on a highly unstable financial path.
The Postal Regulatory Commission (Commission) released its
Financial Analysis, an examination of the U.S. Postal Service’s (USPS) financial results and 10-K Statements for Fiscal Year (FY) 2020. Despite an increase in Competitive products revenue, the Commission’s overall analysis supports the conclusion that the Postal Service is on a highly unstable financial path.
Total net operating losses were $3.6 billion in FY 2020, continuing the trend of significant operational losses. When non-operating expenses are included, such as non-cash workers’ compensation costs and accruals to retirement accounts, the net operating loss of $3.6 billion becomes a total net loss of $9.2 billion. The net operating losses are predominantly due to persistent declines in Market Dominant mail volume and higher operating expenses. The key areas of concern from FY 2020 are: