The Postal Rate Commission will host two briefings by the U.S. Postal Service examining accounting and reporting changes at the USPS and a new carrier cost study, the PRC said yesterday.
The first hearing, set for Nov. 20, will discuss the USPS’ new general ledger accounting system implemented Oct. 1. Its introduction coincided with adoption of a postal fiscal year identical to the U.S. government's fiscal year. Accounting period reports will now be replaced with calendar month financial reporting.
The data from the general ledger system is the primary input into many of the USPS’ annual reports, such as the Cost and Revenue Analysis report and the annual financial statements found in the postmaster general's annual report. This system also is one of the primary sources for the development of the revenue requirement during rate filings.
The second briefing will be Dec. 3 and will detail how the agency developed cost treatments for city carriers that were filed with the PRC in May. The new methodology replaces the cost treatment that has been used since the 1980s.
The briefings are open to the public and will be in the PRC’s hearing room in Washington.