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Defense Working Capital Funds (FINC9000)

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Defense Working Capital Funds

Description:

Learn the goals, roles, and activities of the Defense Working Capital Funds (DWCF) and how they function in the Federal Government. Utilize a revolving fund concept in designing a business-like enterprise to operate within the Department of Defense (DoD) environment.

Duration:

3 days

Level:

Intermediate

Who Should Attend?

DoD financial managers, program managers and other DoD civilian or military personnel who need a comprehensive understanding of working capital funds, including policies, procedures, concepts and terms.

Credits:

1.8 CEU's, 24 CPE's

Learning Outcomes:

  • Describe the legislative history and authority for DWCF
  • Distinguish between a DWCF and an appropriated fund program
  • Apply effective DWCF business principles and concepts
  • Employ effective working relationships with customers and suppliers
  • Apply the basics of DWCF accounting, budgeting, cost recovery, financial reporting and analysis

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Other Recommended Courses:

Day one of three

  • Introduction
    • Purpose, Objective, and Scope of the Working Capital Funds (WCF)
    • Origin and Structure of the Working Capital Funds
      1. WCF Business Areas
      2. WCF Charter
    • The Working Capital Funds Management Structure
      1. The WCF Corporate Board
      2. Office of the Under Secretary of Defense (Comptroller)
      3. Military Departments and Defense Agencies
  • Working Capital Funds Planning, Programming and Budgeting
    • Planning
    • Programming
    • Budgeting
    • Customer and WCF Business Operations Budgeting Concepts
      1. Customer Related Budgeting
      2. WCF Business Area (Provider) Budgeting
        1. Full Recovery of Costs
        2. Setting of Rates and Prices

Day two of three

  • Working Capital Funds Planning, Programming and Budgeting (cont.)
    • Operating Budget Presentation and Submission
    • Budget Execution
    • Performance Measures Evaluation
    • Transaction Reporting
    • Quarterly Execution Review
    • Budget Execution Linked to Budget Formulation
  • Cost Elements and Business Management Concepts
    • Depreciation Expenses
    • Major Real Property Maintenance and Repair (MRPM&R)
    • Cash Management
    • Customer Mandated Schedule Changes
    • Intrafund Transactions
    • Management Headquarters

Day three of three

  • Cost Elements and Business Management Concepts (cont.)
    • War Reserves
    • Military Personnel Costs
    • Base Realignment and Closure Costs
    • Funding of Civilian Voluntary Separation Incentive Program
    • Minor Construction Funding Procedures
    • Post-Investment Analysis Requirements
    • Mobilization Requirements and Related Costs
  • Unit Costs
    • Understanding Costs and Outputs
    • Development of Unit Cost
    • Managing with Unit Cost
    • Challenges, Opportunities and Benefits
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