Introduction Statement of the Administrator USAID Organization Chart Assisted Countries - World Map Summary of FY 2003 Budget Request Program Highlights Management Improvements Operating & Administrative Expenses Capital Investment Fund Working Capital Fund Operation Expenses of the Inspector General Foreign Service Retirement and Disability Fund Summary Tables Regions     Africa     Asia & the Near East     Europe & Eurasia     Latin America & the      Caribbean Central Programs Glossary Abbreviations and Acronyms Wednesday, 29-May-2002 18:53:13 EDT

The Agency's Working Capital Fund (WCF) is authorized by Section 635(m) of the Foreign Assistance Act of 1961, as amended. The fund finances, on a reimbursable basis, the costs associated with providing administrative support to other agencies under the International Cooperative Administrative Support Services (ICASS) program overseas. Under ICASS, each agency pays a proportional share of the cost of those services they have agreed to receive. Working through inter-agency councils at post, all agencies have a say in determining which services the USAID mission will provide, defining service standards, reviewing costs, and determining funding levels. The WCF is a no-year fund that permits unobligated monies to be carried over from one year to the next, an advantage that provides fiscal flexibility and increases opportunities to establish multi-year planning. It also enables managers to make long-term decisions without the constraints of the annual fiscal year cycle.

WCF accounts have been established for four pilot missions with experience in providing reimbursable services to other agencies. Other missions are poised to become service providers once the success of the pilot group has been proven. The gross receipts from the first four WCF accounts during FY 2001, its first year of operation, totaled approximately $1.6 million. While virtually all funds were required to cover the actual cost of providing service, over time it is anticipated that modest surpluses will accumulate through charging customers for depreciation and proceeds from the sale of assets. Missions will invest these surpluses in infrastructure improvements to further increase the effectiveness and efficiency with which services are delivered.

The WCF is also used for deposits of rebates from the use of Federal credit card. These funds will be used to provide management oversight of existing working capital fund missions and to provide training and other start-up costs to assist other missions that are ready to provide ICASS services. The first year receipts from rebates totaled $129,000.