Georgia Tech Prepares for Potential Federal Government Shutdown
The United States government is approaching the extended deadline of Nov. 17 to reach an agreement on federal spending for the current fiscal year, which began Oct. 1. If an agreement is not reached by the deadline, it will result in a government shutdown, which will affect many programs, including the federal contracting work performed by Georgia Tech. Currently, Georgia Tech receives approximately $85 million per month of federal funding for its research activities.
“While most Institute operations would not be immediately affected, a prolonged federal shutdown would require measures to preserve cash and maintain campus operations,” said Jim Fortner, vice president for Finance and Planning and interim chief financial officer.
Leadership continues to monitor the situation and is ready to implement strategies to help ensure business continuity in the event of a federal government shutdown. Current mitigation strategies include monitoring cash balances, accelerating federal invoicing, and assessing the need to defer major purchases and non-essential travel. More information will be provided as it becomes available.