PRC Releases Report Analyzing Post l Service’s FY 2023 Finances

The Postal Regulatory Commission released today its Financial Analysis report for Fiscal Year (FY) 2023. The in-depth analysis of the Postal Service’s financial performance concluded that the organization’s overall financial condition continues to worsen. In FY 2023, the Postal Service recorded a net operating loss of $2.3 billion — an increase of $1.8 billion over the previous year. When non-operating expenses are included, the overall net loss increases to $6.5 billion.

The primary highlights from the report were:
*The Postal Service had a net loss of $6.5 billion.
*Total Factor Productivity, a measure of Postal Service efficiency, saw the largest decrease (4 percent) since it was first calculated in 1965.
*Total mail volume decreased by 8.7 percent, including a 2.0 percent decrease in the volume of Competitive products.
*Revenue from Competitive products increased by $0.2 billion.
*Despite rate increases, Market Dominant revenue decreased by $0.4 billion.
*Total operating expenses were $2.1 billion higher than the previous year.
*The Postal Service recorded total assets of $45.3 billion and total liabilities of $68.4 billion at the end of FY 2023.
https://www.prc.gov/press-releases/prc-releases-report-analyzing-postal-service%E2%80%99s-fy-2023-finances/5398

Related Posts

Overstock urges Congress to act in the wake of the Supreme Court’s online sales tax decision

Overstock.com Inc. is calling on Congress to pass legislation to simplify, or clarify, online sales tax collection in the wake of Thursday’s U.S. Supreme Court decision that enables states and local governments to force online retailers to collect sales taxes, even if they don’t have a physical presence, or nexus, in the state. “The U.S. Supreme Court has reshaped the interstate commerce landscape in a move that could impact small business innovation on the internet, which has been a driving force behind our nation’s economy for the last 15 years,” says Jonathan Johnson, an executive and board member at Overstock, No. 32 in the newly released Internet Retailer 2018 Top 1000, “The framers of the Constitution intended Congress to regulate interstate commerce by thoughtful legislation. To lessen the potential impact of today’s ruling on internet innovation, Congress can, and should, pass sound legislation allowing states to accomplish their aims while still permitting small internet business to thrive.” Click Read More below for additional information.

Oklahoma Supreme Court Blocks State Effort to Ban Books from School Libraries

On June 11, the Oklahoma Supreme Court ruled that the state Department of Education overstepped its authority by attempting to force the Edmond Public School district to remove two books the state had deemed inappropriate from its school library shelves, holding that new state rules enacted last year to govern book content in the state’s public schools had no basis in law. “We conclude a local school board possesses statutory authority to maintain and control its local school library, and one aspect of this control includes discretionary selection for providing supplemental educational books and instructional material deemed appropriate by the local school board in compliance with state statutes,” the unanimous decision reads. “No statute gives the State Board of Education, State Department of Education, and Superintendent of Public Instruction the authority to overrule a local school board's exercise of discretion in applying its local community standards for books in a local school library.”
Back To Top
×Close search
Search