Fiscal Year End Government Spending
While there’s not a countdown with a glamorous ball drop as the government fiscal year comes to an end, time is quickly running out for agencies to spend fiscal year 2018 dollars. GovCon experts are busy discussing past Q4 trends, analyzing obligated dollars, and weighing in on the potential for a Q4 spending spree. We’ve rounded up a few of these articles for your review. We’ve also put together some stats from the fourth quarter of fiscal year 2017 – including the top agency spenders and top performing GSA Schedules.
As a government contractor, you may be celebrating this year’s Q4 forecast. This Nextgov article reports on data prepared by the Pulse and the Professional Services Council. In comparison to previous fiscal years, a large number of agencies have an unusually high percentage of spending not yet obligated for fiscal year 2018. With little time left to spend remaining budgets, contract vehicles like GSA Schedules provide government buyers with an easy, clear path to procure end of fiscal year needs.
If you hold a GSA Schedule Contract, don’t assume your customers are familiar the contract’s benefits. Remind agency buyers that GSA Schedule Contracts are FAR compliant, pre-competed, and have no ceiling value. Depending on the type and dollar value of an order, agencies can buy directly from GSA Advantage!, survey contractors on eLibrary, or post an opportunity on eBuy. Provide your customers with information from the General Services Administration on GSA Schedule benefits, ordering procedures, and FAQs.
Fiscal Year End Tips
As you work to capture end of fiscal year government contract opportunities, here are a few tips to keep in mind:
- Make sure your awarded contracts are up to date. If you hold a GSA Schedule Contract, but haven’t kept your pricing and product/service offerings up to date, you could be leaving money on the table or missing out on time sensitive opportunities.
- Use online resources to conduct market research and identify opportunities. The Federal Procurement Data Systems (FPDS), USASpending, and GSA Schedule Sales Query (SSQ+) can be used to see who, what, and how agencies are spending. FBO, GSA eBuy, and procurement forecasts can be used to find upcoming contract opportunities.
- Consider partnering options to compete for task orders you don’t qualify for alone. Contractor Teaming Arrangements (CTAs) allow 2 or more GSA Schedule Contract holders to “combine” offerings for a specific opportunity. Unlike a prime/subprime arrangement, all CTA members have privity of contract.
Fiscal Year 2017 Q4 Spending Stats
Agencies with Highest Contract Spending in Q4 FY 2017
Agencies with Highest % of Contract Spending in Q4 FY 2017
We limited our data to agencies that awarded at least $10 million in contracts in FY 2017.
GSA Schedules with Highest Sales in Q4 FY 2017
GSA Schedules with Highest % of Sales in Q4 FY 2017
|Schedule||Schedule Name||% of Sales in Q4|
|1||67||Photographic Equipment, Supplies, & Services*||44%|
|2||599||Travel Services Solutions||36%|
|3||75||Office Products and Supplies*||36%|
|4||66||Scientific Equipment & Services||33%|
|5||78||Sports, Promotional, Trophies, & Signs*||32%|
|6||51 V||Hardware Superstore||31%|
|7||751||Leasing of Automobiles & Light Trucks*||29%|
|8||73||Food Service, Hospitality, Cleaning Supplies*||29%|
|9||84||Law Enforcement, Security||28%|
|10||56||Buildings & Building Materials*||28%|