The U.S. Postal Service reported a net loss of $15.9 billion for the fiscal year ending September 30, a record for the agency, as mail volume continued to fall. The Postal Service’s loss was driven in part by a requirement that the semi-government agency prefund retiree health benefits to the tune of $11.1 billion. Even without that payment, however, the agency would have nearly matched last year’s annual net loss of $5.1 billion. In announcing the news, Postmaster General Patrick Donahoe called on Congress to act to help get the mail delivery service onto sound financial footing. A plan put forward by the agency requests approval to determine delivery frequency – which would likely mean the elimination of Saturday delivery – the right to offer non-postal products and services, a “more streamlined governance model” allowing for quicker decision-making on pricing and other business decisions, and that arbitrators take into account the financial woes of the agency during labor discussions. The Postal Service is legally prohibited from accepting tax dollars, but it has been borrowing from the U.S. Treasury to stay afloat. Federal law dictates that such borrowing be capped at $15 billion. Having exceeded its borrowing authority in September, the Postal Service defaulted on more than $11 billion in payments to the Treasury earlier this year.