The Patuxent Partnership (TPP) will host a Navy Working Capital Fund (NWCF) briefing on July 12 at the Southern Maryland Higher Education Center in California, Maryland with check-in beginning at 7:30 a.m.
Gene Townsend, President, TPP Board of Directors, Owner of GT Financial Services, Inc. and former Comptroller for the Naval Air Warfare Center Aircraft Division will present the brief providing an understanding and background on working capital funds.
"Understanding working capital will help contractors to better appreciate their NWCF customer needs and constraints," explained Townsend. "It will provide the contractors insight on the impact of increased or decreased workload. Attendees will understand how the daily NWCF dynamics are similar to a defense contractor's environment."
According to the Department of Navy (DoN), the NWCF is a revolving fund that finances DoN activities providing products and services on a reimbursable basis, based on a customer-provider relationship between operating units and NWCF support organizations. Unlike for-profit commercial businesses, NWCF activities strive to break even over the budget cycle. The NWCF provides stabilized pricing to customers and acts as a shock-absorber to fluctuations in market prices. These fluctuations are recovered from customers in future years via rate changes. The NWCF is key to supporting the DoN's presence and posture through capability, capacity, and readiness. NWCF activity groups comprise five primary areas: Supply Management, Depot Maintenance, Transportation, Research and Development and Base Support. The wide range of goods and services provided by NWCF activities are crucial to the DoN's afloat and ashore readiness and maintaining a relevant industrial base. The value of goods and services provided by NWCF activities in FY 2016 is projected to be approximately $28.5 billion.
There is no cost for this program. Advance registration is requested. To register, please visit paxpartnership.org.
TPP fosters collaboration and the sharing of knowledge and expertise across a diverse network including: educational institutions; industry; local, state and federal governments; and TPP employees and members. TPP also promotes STEM education and workforce development within the local community by hosting programs of interest to NAVAIR, NAWCAD and the broader DoD community. Visit www.paxpartnership.org.