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Stamps held by the public and USPS revenues
In Linn's Stamp News, August 10, 2016, from the article: "Why the U.S.
Postal Service’s net losses for the year are growing" by Bill McAllister, I learned as follows: "One of the changes USPS made in the quarter was a revision to how many stamps are held by the public. That revision added $1 billion to postal revenues in the latest quarter. The Postal Service does not record postage as a revenue item until the stamp purchased is used in the mail. It notes how many stamps the public has purchased and records this number as a “deferred revenue-prepaid postage liability.” " Can anybody explain what kind of revision was the one mentioned above, and why did it add so much to the postal revenues? TIA. Victor Manta, PWO ---------------------------------------------------------------------------- Philatelic Webmasters Organization: http://pwmo.org/ Art on Stamps: http://artonstamps.org/ Romania by Stamps: http://marci-postale.com/ Communism on Stamps: http://reds-on.postalstamps.biz/ Spanish North Africa: http://www.sna-on.postalstamps.biz/ ---------------------------------------------------------------------------- |
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Stamps held by the public and USPS revenues
In Linn's Stamp News, August 10, 2016, from the article: "Why the U.S.
Postal Services net losses for the year are growing" by Bill McAllister, I learned as follows: "One of the changes USPS made in the quarter was a revision to how many stamps are held by the public. That revision added $1 billion to postal revenues in the latest quarter. The Postal Service does not record postage as a revenue item until the stamp purchased is used in the mail. It notes how many stamps the public has purchased and records this number as a deferred revenue-prepaid postage liability. " Can anybody explain what kind of revision was the one mentioned above, and why did it add so much to the postal revenues? TIA. IF this account is correct, one nedd only visit any stamp dealer, show or go on line. There are hundreds of thousands of 'old' sheets, blocks, etc. in 'collector' hands dating back to the 1930's. If these are now 'not accounted in revenue' [though I'm sure the money paid in has long been spent], then the 'books' are fried! I'd expect this "deferred revenue-prepaid postage liability" to exceed the total 'revenues for up to a full year! NOW ... do they discount for the interest and use of the funds that they have had for up to almost a Century? ROTFLMAO about O'Bamanomics !!! |
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Stamps held by the public and USPS revenues
On 8/13/2016 8:04 AM, Sir F.A. Rien wrote:
In Linn's Stamp News, August 10, 2016, from the article: "Why the U.S. Postal Services net losses for the year are growing" by Bill McAllister, I learned as follows: "One of the changes USPS made in the quarter was a revision to how many stamps are held by the public. That revision added $1 billion to postal revenues in the latest quarter. The Postal Service does not record postage as a revenue item until the stamp purchased is used in the mail. It notes how many stamps the public has purchased and records this number as a deferred revenue-prepaid postage liability. " Can anybody explain what kind of revision was the one mentioned above, and why did it add so much to the postal revenues? TIA. IF this account is correct, one nedd only visit any stamp dealer, show or go on line. There are hundreds of thousands of 'old' sheets, blocks, etc. in 'collector' hands dating back to the 1930's. If these are now 'not accounted in revenue' [though I'm sure the money paid in has long been spent], then the 'books' are fried! I'd expect this "deferred revenue-prepaid postage liability" to exceed the total 'revenues for up to a full year! NOW ... do they discount for the interest and use of the funds that they have had for up to almost a Century? ROTFLMAO about O'Bamanomics !!! I stopped collecting mint U.S. stamps about 15 years ago when it became very, very clear to many collectors that the USPS was issuing multiple variations of stamps and stamps commemorating subjects that did not deserve commemoration merely to pick the pockets of collectors. As soon as the collector market was saturated with a distinct variety of a stamp, the USPS would issue the same stamp with a hard-to-detect difference. Collectors who wanted complete collections would then buy that variation. Effectively, the USPS was showing a positive cash-flow by selling stamps to collectors, stamps that would never be used. One estimate I recall was that 10% of the USPS's annual revenues represented stamps the USPS knew would never be used. -- David E. Ross Republicans scream that Hillary Clinton was responsible for the tragedy in Benghazi. They conveniently forget that it was the Republican-controlled Congress that drastically cut the State Department's budget for embassy and consulate protection. |
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Stamps held by the public and USPS revenues
On Sat, 13 Aug 2016 09:21:43 -0700, "David E. Ross"
sharpened a crayon and wrote: Republicans scream that Hillary Clinton was responsible for the tragedy in Benghazi. They conveniently forget that it was the Republican-controlled Congress that drastically cut the State Department's budget for embassy and consulate protection. FACT: The Dumbocritters controlled the Senate. "Congress" is BOTH houses! FACT: Hillarity sat on her hands [or Huma's] and did NOTHING. FACT: Aid was available, but no one in the DEMOCRAT controlled presiduncy did anything! The lied to try to cover it up. FACT: The Dumbo Biden contends that the administration knew of no requests for more security at the Benghazi mission. FACT: The favourite colour for Democrats is CYAN! |
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Stamps held by the public and USPS revenues
"Victor Manta" wrote in message ...
---------------- In Linn's Stamp News, August 10, 2016, from the article: "Why the U.S. Postal Service’s net losses for the year are growing" by Bill McAllister, I learned as follows: "One of the changes USPS made in the quarter was a revision to how many stamps are held by the public. That revision added $1 billion to postal revenues in the latest quarter. The Postal Service does not record postage as a revenue item until the stamp purchased is used in the mail. It notes how many stamps the public has purchased and records this number as a “deferred revenue-prepaid postage liability.” " -------------------- Sir Rien, David, thank you for commenting. Your interesting comments pushed me to look a bit further. In the same article it is written, in the beginning of it: "The price reduction cut the price of a first-class letter-rate stamp to 47¢ from 49¢, effective April 10." I haven't correlated this piece of information to the one that I quoted earlier but perhaps they have something in common. In accountancy terms for each forever stamp that USPS sold previously to the public it owes now 2¢ less than earlier. This difference could be considered a net gain, that can be computed and added to the "postal revenues in the latest quarter". The $1 billion amount is maybe coming from here. We can infer even more. Because USPS told us that: "That revision added $1 billion ...", and we talk about approximatively 4 percent (more exactly 2¢ divided by 49¢) of the whole, we can infer that the total value of stamps hold by the customers of the USPS is about $25 billion. In other words, the public is constantly crediting USPS with this amount (one that counts, like everything in large amounts). Please notice that I don't speak here about older stamps held by collectors, many of which lost a good part of their value due to postal prices inflation, that was higher than the general one. I remember that we discussed this latter subject here many years ago. Victor Manta, PWO ---------------------------------------------------------------------------- Philatelic Webmasters Organization: http://pwmo.org/ Art on Stamps: http://artonstamps.org/ Romania by Stamps: http://marci-postale.com/ Communism on Stamps: http://reds-on.postalstamps.biz/ Spanish North Africa: http://www.sna-on.postalstamps.biz/ ---------------------------------------------------------------------------- |
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