The Defense Working Capital Fund (DWCF), an intragovernmental revolving fund, was formally established in the 1940s. Informal research, however, suggests that less than 20% of Financial Managers within the Department of War are aware of how DWCF entities work, as well as the benefits they provide. DWCF entities act as “sellers” to mission-funded “customers,” providing supplies and services at competitive prices at low risk to customers. This session, led by a seasoned DWCF portfolio manager, will cover DWCF pricing and budgeting principles, including the concepts of “full cost recovery” and stabilized billing rates. The session will also compare the advantages and disadvantages of engaging in intragovernmental customer-provider relationships. Learning Objectives: 1. Assess how the Defense Working Capital Fund (DWCF) works. 2. Describe and apply DWCF pricing and budgeting principles. 3. Differentiate among the six DWCF activities. 4. Analyze the value of the DWCF to customers.