U. S. Postal Service
U. S. Postal Service

Author: U S Government Accountability Office (G

Publisher: BiblioGov

Published: 2013-06

Total Pages: 22

ISBN-13: 9781289015169

DOWNLOAD EBOOK

The U.S. Postal Service's (USPS) financial condition has worsened this year, with the recession and changing mail use causing declines in mail volume and revenues despite postal rate increases. GAO testified in May to this subcommittee that USPS expects these declines to lead to a record net loss and an unprecedented cash shortfall even if ambitious cost cutting is achieved. GAO reported that maintaining USPS's financial viability as the provider of affordable, high-quality universal postal service will require actions in a number of areas, such as (1) rightsizing its retail and mail processing networks by consolidating operations and closing unnecessary facilities and (2) reducing the cost and size of its workforce, which generates about 80 percent of its costs. Today GAO is releasing its report on USPS efforts to improve the efficiency of delivery. Delivery accounts for nearly half of USPS salary and benefit costs. This testimony (1) updates USPS's financial condition and outlook and explains GAO's decision to place USPS's financial condition on the High-Risk List and (2) discusses the need for USPS to restructure its mail processing, retail, and delivery networks and its efforts to improve their efficiency. It is based on GAO's past and ongoing work and updated USPS information.

U. S. Postal Service: Broad Restructuring Needed to Address Deteriorating Finances
U. S. Postal Service: Broad Restructuring Needed to Address Deteriorating Finances

Author: Phillip Herr

Publisher: DIANE Publishing

Published: 2010

Total Pages: 18

ISBN-13: 1437920888

DOWNLOAD EBOOK

The U.S. Postal Service's (USPS) financial condition has worsened this year, with the recession and changing mail use causing declines in mail volume and revenues despite postal rate increases. The USPS expects these declines to lead to a record net loss and an unprecedented cash shortfall even if ambitious cost cutting is achieved. Delivery accounts for nearly half of USPS salary and benefit costs. This testimony: (1) updates USPS's financial condition and outlook; and (2) discusses the need for USPS to restructure its mail processing, retail, and delivery networks and its efforts to improve their efficiency. Charts and tables.

U.S. Postal Service
U.S. Postal Service

Author: United States Accounting Office (GAO)

Publisher: Createspace Independent Publishing Platform

Published: 2018-05-21

Total Pages: 32

ISBN-13: 9781719436632

DOWNLOAD EBOOK

U.S. Postal Service: Broad Restructuring Needed to Address Deteriorating Finances

U. S. Postal Service: Restructuring Urgently Needed to Achieve Financial Viability
U. S. Postal Service: Restructuring Urgently Needed to Achieve Financial Viability

Author: Phillip Herr

Publisher: DIANE Publishing

Published: 2010

Total Pages: 11

ISBN-13: 143792199X

DOWNLOAD EBOOK

The U.S. Postal Service¿s (USPS) financial condition has worsened since Jan. 2009, with the recession and changing mail use causing dramatic declines in mail volume and revenues despite postal rate increases. USPS expects these declines to lead to losses and cash shortfalls even if ambitious cost-cutting is achieved. USPS¿s business model has relied on growth in mail volume to cover costs, but USPS has not been able to cut costs fast enough to offset the accelerated decline in mail volume and revenue. This testimony: (1) updates USPS¿s financial condition and outlook and explains the decision to place USPS¿s financial condition on the High-Risk List; and (2) presents options and actions that the USPS can take. Charts and tables.

U. S. Postal Service
U. S. Postal Service

Author: Phillip Herr

Publisher: DIANE Publishing

Published: 2011-05

Total Pages: 18

ISBN-13: 1437982638

DOWNLOAD EBOOK

The U.S. Postal Service's (USPS) financial condition and outlook are deteriorating because revenues are not sufficient to cover its expenses and financial obligations. These challenges continue to threaten USPS's financial viability. USPS also faces cost pressures from maintaining a national network of processing, retail, and delivery operations. This testimony discusses: (1) updated information on USPS's financial condition and outlook; and (2) actions needed to modernize and restructure USPS. Charts and tables. This is a print on demand edition of an important, hard-to-find publication.

U. S. Postal Service
U. S. Postal Service

Author: Bernard L. Ungar

Publisher: DIANE Publishing

Published: 2002-11

Total Pages: 20

ISBN-13: 9780756728212

DOWNLOAD EBOOK

Assesses the financial condition of the U.S. Postal Serv. (USPS) and its long-term outlook as well as the financial, operational, and structural issues that may affect USPS's ability to carry out its mission. The report will help improve the understanding of USPS's current financial situation; the causes of the anticipated financial deficits; and the implications in the short and long term on USPS's financial condition, operations, and customers. The report: assesses USPS's FY 2001 financial results and its long-term outlook; and discusses the legal require. and practical constraints that need to be addressed as well as selected options to be considered for USPS to achieve a successful transformation to overcome its financial, operational, and human capital challenges. Also includes a 15-page GAO report, "U.S. Postal Service: More Consistent Implementaiton of Policies and Procedures for Cash Security Needed."

U. S. Postal Service: Deteriorating Postal Finances Require Aggressive Actions to Reduce Costs
U. S. Postal Service: Deteriorating Postal Finances Require Aggressive Actions to Reduce Costs

Author: Phillip Herr

Publisher: DIANE Publishing

Published: 2009-12

Total Pages: 17

ISBN-13: 1437913040

DOWNLOAD EBOOK

In Dec. 2006, the USPS had just completed FY 2006 with its largest mail volume ever -- 213 billion pieces of mail and a net income of $900 million. Two years later, USPS's mail volume dropped almost 5% -- the largest single-year decline. USPS was facing a potential net loss of over $1 billion for FY 2008. USPS anticipated continued deterioration due to the econ. slowdown, as the financial, credit, and housing sectors are among its key bus. drivers. The shifts in transactions and messages from mail to electronic commun. and from advertising mail to electronic media have affected the USPS's financial situation. This testimony focuses on: (1) USPS's financial condition and outlook; and (2) options and actions for USPS to remain financially viable. Illus.

U. S. Postal Service
U. S. Postal Service

Author: U S Government Accountability Office (G

Publisher: BiblioGov

Published: 2013-06

Total Pages: 22

ISBN-13: 9781289030766

DOWNLOAD EBOOK

The U.S. Postal Service's (USPS) financial condition and outlook are deteriorating because revenues are not sufficient to cover its expenses and financial obligations. These challenges continue to threaten USPS's financial viability and GAO has therefore retained USPS on its high risk list issued in February 2011. USPS also faces cost pressures from maintaining a national network of processing, retail, and delivery operations. This testimony discusses (1) updated information on USPS's financial condition and outlook and (2) actions needed to modernize and restructure USPS. It is based primarily on GAO's past and ongoing work, as well as GAO's review of USPS's recent financial results and the President's proposed budget for fiscal year 2012.

U. S. Postal Service: Financial Challenges Continue, with Relatively Limited Results from Recent Revenue-Generation Efforts
U. S. Postal Service: Financial Challenges Continue, with Relatively Limited Results from Recent Revenue-Generation Efforts

Author: Phillip Herr

Publisher: DIANE Publishing

Published: 2010-06

Total Pages: 16

ISBN-13: 1437925227

DOWNLOAD EBOOK

The U.S. Postal Service's (USPS) financial condition and outlook deteriorated significantly during FY 2009. USPS was not able to cut costs fast enough to offset declining mail vol. and revenues resulting from the economic downturn and changing mail use. USPS would not be able to make the $5.4 billion payment to prefund postal retiree health benefits that was due by the end of the year. This testimony: (1) updates USPS's financial condition and outlook; (2) describes changes made by the Postal Account. and Enhancement Act of 2006 that provided USPS with greater flexibility to generate revenues; (3) outlines USPS's revenue-generation actions and results using this flexibility; and (4) discusses options to generate increased revenues in the future.