Working Capital Fund
NEWS ITEMS:
May 14, 2012
The WCF Mid-year Report reports that the Fund is performing in a manner consistent with past years. Most businesses are expected to break even. Earned revenue for the Fund totaled $91.7 million for the Second Quarter, on track for an annual level of approximately $180.4 million. Business Expense for the same period was $90.5 million resulting in net recovery of $1.2 million.
May 8, 2012
On May 7, the WCF Fund Manager issued the WCF FY 2014 Budget Guidance for use in Program budget submissions. These estimates are based on current Board pricing policies, current consumption patterns, and specific cost changes associated with building rent and energy charges. If you have any questions, please contact Robert Emond at 202.586.2354.
April 9, 2012
WCF businesses have analyzed their operations for developments that might occur over the next five years and developed plans to help programs understand the impacts on budgets. These plans are available on this page under the link for Five-year Plans. If you have any questions, please contact the person identified in the plans. Comments to the Fund Manager are also appreciated.
September 12, 2011
The WCF Third Quarter Report reports that the Fund is performing in a manner consistent with past years. Most businesses are expected to break even. Earned revenue for the Fund has totaled $126.3 million for the Third Quarter, on track for an annual level of approximately $165.9 million. Business Expense for the same period was $125.8 million resulting in net recovery of $0.5 million.
July 26, 2011
The Fund Manager is releasing the FY 2011 Working Capital Fund Cost Structure Analysis (Indirect Study) . This analysis responds to the 1997 Inspector General report; to which Fund management agreed to provide a report to the Board that identifies Working Capital Fund business costs not now reflected in the Working Capital Fund pricing structure ... [including] the hypothetical impacts on business line viability of including such costs in the Fund pricing structure. The first report was transmitted to the Board on June 30, 1998. This current report updates the previous thirteen reports and summarizes areas of change. Beginning FY 2012 the Working Capital Fund will begin charging programs for the full cost of WCF goods and services. As a result, this report will no longer be needed.
June 3, 2011
On June 3, the WCF Fund Manager issued the WCF FY2013 Budget Guidance for use in Program budget submissions. These estimates are based on current Board pricing policies, current consumption patterns, and specific cost changes associated with building rent and energy charges. If you have any questions, please contact Robert Emond at 202.586.2354.
April 20, 2011
The "FY 2011 WORKING CAPITAL FUND: Guide to Services, Policies and Procedures" has been updated to add the new Charter approved by the Deputy Secretary, Daniel B. Poneman, on April 14, 2011. The revised guidance is located on this page for your review
February 10, 2011
The Working Capital Fund Board met on February 9 to discuss strategies to save WCF costs, for a review of the Administrative Services Business Lines and for a presentation of First Quarter Financial Results. The draft minutes of the meeting are attached for your review. If you have any questions, please call Robert Emond at 202.586.2354.
February 9, 2011
The WCF First Quarter Report to the Board reports that the Fund is performing in a manner consistent with past years. Most businesses are expected to break even. Earned revenue for the Fund has totaled $43.5 million for the First Quarter, on track for an annual level of approximately $171.1 million. Business Expense for the same period was $43.7 million resulting in net recovery of -$0.2 million.
January 12, 2011
The Working Capital Fund Board met on January 12 to discuss strategies to save WCF costs, for a review of the iManage Business Line and to discuss the need for working groups for Telecommunication and iManage business line to inform the FY 2013 budget. The "draft minutes" of the meeting are attached for your review. If you have any questions, please call Robert Emond at 202.586.2354.
January 6, 2011
On January, the WCF Fund Manager issued the "WCF FY 2012 Budget Guidance" for use in Program Congressional budget submissions. There is no change in FY 2012 estimates, this update includes tables only and updated with actual FY 2010 costs only. These estimates are based on current Board pricing policies, current consumption patterns, and specific cost changes associated with building rent and energy charges. If you have any questions, please contact Robert Emond at 202.586.2354.
December 15, 2010:
The Fund Manager and Working Capital Fund Businesses have revised the "Guide to Services, Policies and Procedures", the Blue Book for FY 2011.
December 10, 2010:
The FY 2010 Annual Report to the WCF Board is available for your review online. The operating statement and the balance sheet reflect the continued health of the Fund and its component businesses. The Fund experienced net recovery of -$4.8 million during FY 2010 on earnings of $161.2 million. The fund has recorded cumulative surplus revenues of $13.0 million since FY 1997 or approximately 0.9% of earnings over the fourteen year period, in line with Congressional and Departmental policies. Costs and earnings have remained in balance, customers are paying their charges on time, the accounting system has improved our tools for managing balances, and business line managers have been prudent in their use of customer funds. Please read the complete report for detailed information about the net income for each business line, a description and explanation of balance sheet items, and a performance report by each business line financed in the DOE WCF.
December 10, 2010:
The Working Capital Fund Board met on December 8 to discuss strategies to save WCF costs, for a review of the Telecommunications Business Line and to discuss a pilot to help control salary expenses in the Fund. The draft minutes of the meeting are attached for your review. If you have any questions, please call Robert Emond at 202.586.2354.
November 18, 2010:
The Working Capital Fund Board met on November 10 to discuss strategies to save WCF costs, for a review of the Building Occupancy Business Line and to discuss issues related to the working group for the closeout pricing policies. The draft minutes of the meeting are attached for your review. If you have any questions, please call Robert Emond at 202.586.2354.
The Working Capital Fund Board is meeting once a month in order to hear reviews of each WCF business line. To-date the Corporate Training, Project Management Career Development Program, and the Building Occupancy Business Lines have presented to the Board. Copies of the respective reviews and briefing materials are available on this site under the Business Line Reviews "button" on the left of the current screen. Subsequent reviews will be posted to this site when they are available.
October 27, 2010:
The Working Capital Fund Board met on October 13 to discuss strategies to save WCF costs and to discuss issues related to the working group for federal salaries in Fund prices. The draft minutes of the meeting are attached for your review. If you have any questions, please call Robert Emond at 202.586.2354.
September 7, 2010:
The Fund Manager presents the FY 2010 WCF Cost Structure Analysis. This report is prepared in response to the 1997 Inspector General report on Fund pricing structure. Highlights include: changes to Fund operations since the original report, the impact of competitive sourcing on Fund businesses, and a history of cost trends since FY 1998. If you have any questions, please call Robert Emond at 202.586.2354.
August 25, 2010:
Working Capital Fund businesses prepared Five-year plans to help you understand what products and services are available at DOE headquarters and how the business lines align their efforts to support program goals. These plans are used to develop budget forecasts and to establish the goals and strategies of the respective businesses. Please note that Phone and Network are combined in Telecommunications and Pay, Chris, and iManage are now combined in iManage. If you have any questions, please contact Robert Emond at 202.586.2354.
August 19, 2010:
On August 19, the WCF Fund Manager issued the WCF FY2012 Budget Guidance for use in Program OMB budget submissions. These estimates are based on current Board pricing policies, current consumption patterns, and specific cost changes associated with building rent and energy charges.If you have any questions, please contact Robert Emond at 202.586.2354.
August 16, 2010:
The Working Capital Fund Board met on August 4 to discuss the FY 2010 Third Quarter Financial Report for the Fund and to discuss issues related to working groups for the Building Business and iManage. The draft minutes of the meeting are attached for your review. If you have any questions, please contact Robert Emond at 202.586.2354
August 12, 2010:
The Fund Manager is releasing the FY 2010 Third Quarter Report of WCF Operations. The report shows that the Fund is performing in a manner consistent with past years. Most businesses are expected to break even. Earned revenue for the Fund has totaled slightly over $121.0 million for the Third Quarter, on track for an annual level of approximately $160.3 million. Business Expense for the same period was $123.9 million resulting in net recovery of -$2.9 million. However, due to the cumulative net position of the Fund, there are adequate balances to offset this loss for the year.
August 12, 2010:
The Working Capital Fund Board met on June 17 to discuss the FY 2010 Second Quarter Financial Report for the Fund and to discuss issues related to working groups for the Building Business and iManage. The board approved minutes of the meeting are attached for your review. If you have any questions, please contact Robert Emond at 202.586.2354.
May 7, 2010:
The Fund Manager is releasing the FY 2010 Second Quarter Report of WCF Operations. Based on our reviews, the Fund is performing in a manner consistent with past years. Most businesses are expected to break even. Earned revenue for the Fund has totaled slightly over $77.7 million for the second quarter, on track for an annual level of approximately $159.3 million. Business Expense for the same period was $78.3 million resulting in a net recovery of -$0.6 million.
April 27, 2010:
The "Independent External Review of the Department of Energy Working Capital Fund" (.ppt) prepared by Grant Thornton LLP and presented to the WCF Board at its April 6 meeting is provided for your reading.
April 2010:
The Working Capital Fund Board met on April 6 to discuss the FY 2010 First Quarter Financial Report for the Fund and to discuss issues related to working groups for FS Audits and iManage. Grant Thornton presented the results of their external review of the Fund. The draft minutes of the meeting are attached for your review. If you have any questions, please contact Robert Emond at 202.586.2354.
