The Office of the Chief Financial Officer operates and oversees VA’s Supply Fund. The Supply Fund (Fund) is a self supporting revolving fund. It recovers its operating expenses through fees and markups on approximately 30 different products or services. The Fiscal office is responsible for all elements of financial management of the Fund, including financial reporting, budgeting, accounting operations and oversight, business line oversight, and financial services programs. The Supply Fund’s inherent flexibility makes it possible to offer innovative financial services to VA customers. For example, VA organizations and facilities can use the 1 VA+ Program to extend obligation authority of appropriated funds for up to three years beyond the current fiscal year for bona fide needs.
The Supply Fund can also be used to lease equipment. The Capital Leasing Program eases up front acquisition costs by allowing payments to be spread over a period of up to five years. In addition to VA customers, other Government agencies take advantage of the minimal financing rate offered by this program. Finally, in partnership with the Finance Service Center in Austin, TX, the Supply Fund recovers duplicate payments to vendors and unused credits from vendors. Recovered funds are returned to program offices or used to offset operating expenses of the Supply Fund.
Supply Fund fiscal programs stretch dollars for customers in the VA and Other Government Agencies. The programs include: 1VA+ and the Capital Equipment Leasing Program. The common element in these programs is innovative financial flexibility in service to customer’s needs. Whether critical equipment is needed and funds are unavailable, or appropriated dollars are expiring and an extension is critical to meeting an Agency’s mission, Supply Fund programs are available to help.