Working Capital Fund Board Meeting
November 17, 2004
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Working Capital Fund Board Meeting November 17, 2004 |
1. Introduction
The Board Chair, Howard Borgstrom called the meeting to order. Howard introduced Dave Robinson, Senior Advisor to the new CFO, Susan J. Grant, to the Board. Dave made some comments related to funding issues anticipated for FY 2005 and FY 2006 and the need to reduce burdens on customer organizations. He also mentioned that both he and Susan Grant are familiar with working capital funds and look forward to working with the Board.
The Board honored Sandra Best-Jackson and Enid Levine, two Fund business leaders who are leaving their positions soon, with plaques and WCF coffee mugs. They also honored George Tengan in absentia.
2. Approval of Minutes April 20, 2004 Meeting
The Board adopted the minutes of the April 20 meeting without changes.
3. Fund Manager Annual Report for FY 2004
Howard presented an overview of the Annual Report for FY 2004. The fund operated with a net profit of $1.3 million for a cumulative net profit for eight years of operation of $3.8 million or 0.5% on $691 million in earnings. He reported that all businesses are operating well and pricing policies in effect for FY 2005 are expected to fulfill the earnings needs of the businesses.
Howard also stated the need to appoint working groups to review certain pricing policies of business lines and to review governance issues of the Fund.
The PMCDP was authorized to enter into bilateral agreements with customers to provide customized training delivery to satisfy requirements beyond those of the PMCDP. The Board wants to ensure that the Fund manager provide oversight of these agreements to ensure consistency of cost and price factors and to ensure that the overall PMCDP program is not adversely affected by these customized deliveries.
4. Reports from New FY 2004 Businesses
Walter Howes addressed the Board on progress in the PMCDP business line.
Rita Franklin addressed the Board on progress in GoLearn and other training and personnel issues including personnel administration.
5. Status Report from the Information Technology Advisory Group
Harry Hixon provided an information briefing/status report for the Board of the activities of the Technology Advisory Group. He indicated that there should be a business case prepared for Board review in the February time-frame. The Board requested that the C-300 B report be available for review at the same time. Harry agreed that it would be available. The Board expressed its concern that funding requirements would hit their budgets outside of the normal budget process. They also indicated that it was risky to commit future or current funding to an expensive long-term project that was not a distinct priority of the administration. Considering the constrained funding in FY 2005/6 it may make more sense not to commit the reserves for this project.
6. Per Capita Population Counts
Vicki Barden from the Office of Science asked the Board to consider the allocation method for the Payroll and CHRIS businesses, which are currently allocated based on the number of persons on-board in the first pay period of the fiscal year according to Program Secretarial Office. As a result, Science is paying for payroll and CHRIS services for persons who are paid in EM appropriations. The Board discussed options like appropriation based allocations by on-board or ftes. The Board agreed to assign this question to a working group.
7. Action Item: Summary on Working Group Formation
Howard asked the Board members to consider customer co-leads to working groups to consider Training Deliver prices, methods for per-capita allocation, the Project Management Career Development Program, and Fund governance. He indicated that he would circulate a request for Working Group members to all customer organizations in the near future.
8. Other
Steve Durbin suggested and the Board approved the motion to cite the contributions of Brian Costlow and Louis D’Angelo to building improvements at the ground floor cafeteria and the second floor meeting room. These improvements are valued by our customers.
9. The Board voted to adjourn
ME