If you've ever wondered what happens to any extra money left over at the end of the Federal Governmen's fiscal year, here's the answer:
Fall is coming, and for GTSI that means the end of the federal fiscal year is approaching and that civil servants are rushing to spend department funds before they revert to the U.S. Treasury on Oct. 1.
That's right - each and every September, government departments and agencies indulge in an orgy of spending, using the flimsiest of pretexts to purchase something, anything, which will help zero out their respective budgets. In a time of burdensome foreign commitments and unfinished business, one would think that fiscal restraint would be paramount, but instead, the opposite holds true.
The reason is quite simple. If a department or agency fails to spend every single penny of its Congressionally-appropriated funds within a given fiscal year, there's a risk that the next year's appropriation might be a bit smaller. And as we all know, that would be a tragedy of epic proportions.