in ,

Report: Defense, Civilian Agencies Could Obligate $300B in Remaining FY 2018 Funds; David Berteau Quoted

Report: Defense, Civilian Agencies Could Obligate $300B in Remaining FY 2018 Funds; David Berteau Quoted - top government contractors - best government contracting event
David Berteau
Report: Defense, Civilian Agencies Could Obligate $300B in Remaining FY 2018 Funds; David Berteau Quoted - top government contractors - best government contracting event
David Berteau

Federal agencies would have to spend up to $300B in appropriated funds in the last three months of fiscal 2018 before the current fiscal year ends on Sept. 30, Nextgov reported Tuesday.

“It is not impossible for this to happen, but it is unprecedented for that high of a percentage to be obligated to contracts for a fiscal quarter,“ David Berteau, president of the Professional Services Council, told the publication.

“You'd have to spend almost 50 percent of the yearly total in three months,” he added.

Civilian agencies received a $63B funding boost in the fiscal 2018 appropriations measure and would have to obligate approximately $220B in remaining funds before the end of the month, Berteau said.

The Defense Department obligated $331B in fiscal 2017 funds on contracts and got an additional budget of $80B in the fiscal 2018 appropriations law, the report noted.

ExecutiveBiz Logo

Sign Up Now! ExecutiveBiz provides you with Daily Updates and News Briefings about Industry News

mm

Written by Jane Edwards

is a staff writer at Executive Mosaic, where she writes for ExecutiveBiz about IT modernization, cybersecurity, space procurement and industry leaders’ perspectives on government technology trends.

CenturyLink's Cloud Services Available to Utah Agencies Under NASPO Procurement Vehicle - top government contractors - best government contracting event
CenturyLink’s Cloud Services Available to Utah Agencies Under NASPO Procurement Vehicle
Symantec Unveils AI-Based Cybersecurity Service; Greg Clark Quoted - top government contractors - best government contracting event
Symantec Unveils AI-Based Cybersecurity Service; Greg Clark Quoted