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| NEWS ITEMS: |
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| August 17, 2009: |
| Attached for your consideration is the
FY 2009 Third
Quarter Report to the
WCF Board. Based on our reviews, the Fund is performing in a manner
consistent with Board policy. Cumulative earned revenue is $ 105.1 million
for the Third Quarter. Business Expense for the same period is
$109.4 million resulting in net loss of $4.3 million. This is due largely
to $3 million advanced in FY 2008 for network upgrades and the transition
to digital phone switches. Both activities were billed to programs in
prior years, but the costs are recorded in FY 2009.
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| June 8, 2009: |
| The Working Capital Fund Board met on June 3 to discuss the
financial performance of the Fund and to discuss issues related
to the FY 2011 budget request. The draft
minutes of the meeting are attached for your review. If you have any questions,
please contact Robert Emond at 202.586.2354.
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| May 28, 2009: |
| On May 27, the WCF Fund Manager issued the WCF
FY2011 Budget Guidance for use in Program budgets. This guidance is
based on current policies as well as proposals being considered by the WCF Board.
This proposal should receive final Board consideration this summer before Program
budgets are due for review by the Office of Budget. If you have any questions,
please contact Robert Emond at 202.586.2354.
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| May 27, 2009: |
The Working Capital Fund received an audit opinion pursuant
to the DOE A-123, Management Accountability and Control program.
The evaluation discusses risks associated with Fund Operations
and internal controls that are in place to mitigate those specific
risks. A separate evaluation of the WCF Accounting procedures was
conducted last year and reported to the Board at that time. This
evaluation reviewed non-accounting procedures and focused largely
on the governance practices of the WCF. The summary finding follows:
The tests showed that the controls are in place and are working as
designed. Based on the tests conducted it appears that the controls
are adequate to mitigate the risks.
If you would like to receive a copy of the complete evaluation of
WCF governance controls or the accounting evaluation, please contact
Robert Emond at 202.586.2354.
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| May 5, 2009: |
| Attached for your consideration is the
FY 2009 Second Quarter
Report to the WCF Board. Based on our reviews, the Fund is
performing in a manner consistent with Board policy. Cumulative
earned revenue is $65.2 million for the Second Quarter.
Current earnings are below budget estimates because of the
extent of the Continuing Resolutions, which will be remedied
in the third quarter report. Business Expense for the same
period is $70.9 million resulting in net loss of $5.7 million,
due largely to $3 million advanced in FY 2008 for network upgrades,
which costs are being reported in FY 2009. This upgrade was
financed from cumulative profits in the Network business line;
therefore, there is no income to offset these costs.
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| February 6, 2009: |
| The Fund Manager is releasing
the FY 2009
First 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 under $31.3 million for the first
quarter, on track for an annual level of approximately $117.5 million
(consistent with the Continuing Resolution). Business Expense for
the same period was $30.5 million resulting in net income of $0.8 million.
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| January 29, 2009: |
| The Fund Manager and Working Capital Fund Businesses have revised
the "Guide to Services, Policies and Procedures",
the Blue Book for FY 2009.
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| December 23, 2008: |
| The Fund Manager has
revised budget estimates
for FY 2010 for use in program budgets. You can find the guidance
under the customer tab on this web page. These estimates are based on
current Board pricing policies and are updated to reflect FY 2008 actual
consumption levels.
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| December 5, 2008: |
| The Board Chair released the
FY 2008 Annual Report
to the WCF Board at its December 3, 2008 Board Meeting. The
operating statement and the balance sheet of the Fund reflect continued
health of the Fund and its component businesses. While the
Department's records show FY 2008 business line costs slightly
in excess of earnings, cumulative business line expenses since
FY 1997 are 99% of earnings, well within the defined criteria
for operating a revolving account under a break-even policy
objective. The Board, the Fund Manager, and the business line
officials have built a partnership that yielded a balance sheet
capable of sustaining current operations while making the
highest priority capital investments. 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. |
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| October 25, 2008: |
The Fund Manager has completed this year's version of the
Working Capital Fund
Benefit/Cost Analysis Update, (1997-2008). The purpose of this
paper is to update the financial benefit/cost analysis for the Working
Capital Fund to include estimated Fund financial results for FY 2008.
This paper compares the Department's average annual spending levels
for the services included in the Fund for the four years
before the creation of the Fund to the twelve
years since creation of the Fund.
Summary of Results
- During the 12 years of the Fund, the average annual
costs of continuing businesses decreased by $ 6.1 million
or over 7 % in current (as spent) dollars, so direct DOE
budget savings have been $73.2 million. When inflation
is taken into consideration, the savings from the Fund
are estimated to be nearly $20 million/year or over 20%.
This represents approximately $239 million over the life
of the Fund in constant FY 2000 dollars.
- While there are many qualifiers on this analysis, the
evidence remains strong that the Department has achieved
substantial net economic benefits from the market-like
approach of the Fund to the provision of common administration
services to Headquarters.
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| August 25, 2008: |
| The Fund Manager presents the FY 2008 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.
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| August 12, 2008: |
| The Fund Manager has completed FY 2008 Third Quarter Reviews with
the respective Working Capital Fund businesses and has prepared the
Third Quarter Report for your review.
The July WCF Bill is also available
now. |
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| June 12, 2008: |
During February/March 2008, the Working Capital Fund (WCF) was audited,
consistent with the DOE effort under OMB Circular A-123. The audit mapped
financial processes and tested internal controls related to collecting program
funding, obligating it to WCF accounts, distributing these funds to business
accounts and charging program accounts with costs in a timely and accurate
manner. The CFO, through its contractors, audited both Working Capital
Fund Accounting and Sub-allocations of Working Capital Funds in two separate
audits.
The audits evaluated three types of risk: 1) The impact
to the Department if the accounting for the WCF is incorrect;
2) if billings to customers are incorrect; and
3) if sub-allocations to business lines are incorrect or
untimely. The audit identified sixteen controls currently
in place by fund management to eliminate the risks identified.
The auditors conducted sixteen tests to determine the effectiveness
of these controls in addition to determining whether there was
a need for further controls. The auditors report documents
the financial controls of the fund and explains the performance
of these controls.
The tests resulted in no failures
of controls and gave the auditor reasonable assurance of
internal controls over the financial processes of the WCF. |
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| May 13, 2008: |
| The WCF Fund Manager invites you to review the
FY 2008 Five-Year Plans
prepared by the respective businesses for your review.
If you have comments, please provide them to Bob Emond or
directly to the business point of contact listed elsewhere
on this page. |
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| May 12, 2008: |
| The Fund Manager has completed FY 2008 Second Quarter Reviews with
the respective Working Capital Fund businesses and has prepared the
attached FY 2008 Second
Quarter Report for your review.
The April WCF Bill is also available now.
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| April 25, 2008: |
| The Draft
Minutes for the February 27, 2008 Board Meeting are available for
your review. |
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| February 20, 2008: |
| The Fund Manager has released the
FY 2008 First Quarter Report
to the Working Capital Fund Board in draft for their review prior to the WCF
Board Meeting scheduled for February 27, 2008. |
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| December 14, 2007: |
| The Fund Manager and Working Capital Fund Businesses have revised
the "Guide to Services, Policies and
Procedures", the Blue Book for FY 2008." |
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| December 14, 2007: |
| The Draft
Minutes for the December 6, 2007 Working Capital Fund meeting is
now available for your review. |
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| December 7, 2007: |
| The Working Capital Fund Board met yesterday. The Board approved
the May 23 Minutes. The Chair presented the
FY 2007 Annual
Report to the Board. The financial condition of the Fund
is sound. The Fund experienced -$0.9 million in net earnings during
FY 2007 on earnings of $107.2 million. Despite this loss, the fund has
recorded cumulative net earnings of $12.9 million since FY 1997 or
approximately 1.3% of earnings over the eleven year period. Financial
performance has varied substantially among businesses, but the overall
result for the first eleven years has been substantially a breakeven
situation, in line with Congressional and Departmental policies. |
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Guide to Services |
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Service Providers:
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| Office Supplies
- PAPERCLIPS, operates two main and one satellite self service stores for the
Department of Energy Office of Administration, Office of Operations. These
stores provide a wide variety of consumable office products that are tailored
to meet the DOE customer's requirements. Although there is no associated web
site currently, we are negotiating with the service providers to initiate
this facility for ease of customer use. |
| Mail Business Line
- The DOE Mail Center provides a variety of mail services for all official and
other authorized mail for the Department of Energy and its employees. The services provided include
the processing of all incoming postal mail, outgoing official mail, internal mail processing,
accountable mail processing, pouch mail, a variety of overnight express mail services, directory
services, and pick-up and delivery services. |
| Photocopy and
Printing & Graphics Business Lines - Printing, Copying and Distribution
Services include: Copier Management Program, DOE Printing and Mail Policy,
Staffed Copy Center , Walk-Up Copier Locations, Digital Reproduction of
Documents, Optical Scanning, Optical Character Recognition (OCR), Printing
Procurement Products and Services, Web Job Tracking System, Distribution
Services, Map of DOE Field Facilities for Copying & Duplicating and Field
Facilities Contacts for Printing & Mail. |
| Building
Occupancy Business Line - includes: Rent, Operations & Maintenance, Parking,
Supply Stores, SEET Schedule and Form, Cafeterias, Tenant Alterations, Keys and
Locks, Space Management, Headquarters Occupational Safety and Health, and the
Recycling Program. |
| Telephone Business Line
- provides DOE HQ Network users and administrators with information and support
within the area of Telecommunications Management at DOE Headquarters . |
| Networking Business Line
- The DOE Corporate Network (DOEnet) is a centrally-managed Wide Area Network
designed to carry business sensitive data to users throughout the DOE community.
DOEnet provides connectivity between 38 DOE sites utilizing Asynchronous
Transfer Mode (ATM) technology. |
| DOENet Operations - provides a
broad range of technical support services for the daily operations,
maintenance, and administration of network syste ms and services used by
all DOE Headquarters organizations. |
| Project Management Career Developer
Program (PMCDP) - Services provided include: Coursework research and
development, Project Management Research and Development, Courseware Prototype
and Delivery, Curriculum Management, Certification Management, Evaluation,
Market Research, Marketing and Knowledge Management. |
| Corporate
Training Services - Business Line combines Training Delivery and Services
(TDS) with The Energy Online Learning Center (OLC) to deliver courses which
support the department's mission progra ms . This new business will continue
the goals of the Professional Skills Training and the OLC to focus on customer
requirements and develop course offerings that serve the evolving needs of the
Department's program missions. |
| CHRIS Business Line - The Corporate
Human Resource Information System (CHRIS) is a nation-wide operational system
within the Department of Energy that serves as the official system of record
for human resource management information for all DOE employees. |
| Procurement
Management - The Procurement Management Business Line combines Purchase
Card Surveillance with Contract Closeout to further ensure the integrity
of the procurement function within the DOE. These business segments help
validate compliance with procedures and improve the internal controls
of the Department and respond to specific issues raised by the
Inspector General. Ultimately, they result in savings to programs
by avoiding fraud, waste, and abuse. This business does not maintain
a web site, however, you can get contact information at the link to
DOE Procurement. |
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