Working Capital Fund Jorge Rivera, WCF Director
Author : alida-meadow | Published Date : 2025-06-23
Description: Working Capital Fund Jorge Rivera WCF Director Paola FelixRodriguez Budget Branch Chief Working Capital Fund Defined The Working Capital Fund WCF was established in 1944 authorized under 7 USC 2235 and is defined as A fund
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Transcript:Working Capital Fund Jorge Rivera, WCF Director:
Working Capital Fund Jorge Rivera, WCF Director Paola Felix-Rodriguez, Budget Branch Chief Working Capital Fund….. Defined The Working Capital Fund (WCF) was established in 1944, authorized under 7 U.S.C. 2235 and is defined as: A fund without fiscal year limitation for payment of salaries and other costs for centrally managed services approved by: Public Law 78-129 (legislation creating the WCF) Secretary of Agriculture and the Director, OMB Credited with advances or reimbursements: from customers for which services are performed on the basis of rates based on estimated or actual charges for services such advances not to make available funds for any period beyond that provided by the Act appropriating the funds Providing a mechanism to avoid duplication of services among agencies. Working Capital Fund….. Defined Cont. The WCF finances centrally-managed Activity Centers that provide support services to USDA and Non-USDA organizations and allows the Department to achieve efficiencies by engaging in economies of scale. WCF Activity Centers deliver a wide variety of services under the following functional categories: Information Technology and Data Center Services Financial Management and Human Resources Operations Administrative Services Media Communication Services Correspondence Management and Secretarial Support WCF Governance Structure The WCF employs an integrated governance structure to ensure effective service delivery and financial performance: WCF was placed under centralized management in 1983. Day-to-day management operations are performed by the WCF Division (WCFD) under the Office of the Chief Financial Officer. The WCFD along with the WCF Controller and CFO has the overall responsibility for the financial health and integrity of the WCF. Advisory functions are carried out by a WCF Executive Committee, authorized under Departmental Regulation 1043-40, which is comprised of high-level, senior management officials who provide the CFO, working with the CIO and ASA with advice and counsel with regards to allowances for Activity Centers in WCF. WCF Service Categories The WCF provides financial support for three categories of service: Core Services: Services characterized by two attributes – “non discretionary (all agencies participate)” and “corporate-level management (provided on behalf of USDA agencies or on a Department-wide basis)” Agency-Specific Services: Services characterized by two attributes -- provided on an “on-demand” basis and “agreement based;” agencies reimburse full cost of services they order Non-USDA Services: Services provided to non-USDA agencies in a manner similar to Agency-Specific Services WCF Budget Outlook AS USDA revamps it’s operating model to achieve a more customer-focused organization, WCF activity centers have been