August 10, 2018
Federal agencies are expected to spend up to 40 percent of their fiscal 2018 budgets before the new fiscal year begins in October, Nextgov reported Wednesday.
Defense and civilian agencies would have to obligate at least $140 billion in additional budget authorized under the omnibus spending package passed by Congress and signed by President Donald Trump in March, when agencies were already halfway through fiscal 2018.
“If agencies are going to spend the extra money in fiscal 2018, it’s going to have to be at a much higher percentage in the fourth quarter than it has been historically,” David Berteau, president of the Professional Services Council, told the publication.
Civilian and defense agencies have awarded approximately $300 billion in fiscal 2018 contracts, according to the Federal Procurement Data System.READ MORE