UPDATE (Dec. 21, 2024): Lawmakers have passed a continuing resolution to fund the U.S. government through March 14, 2025 – temporarily averting a federal government shutdown. The Institute continues to monitor the situation and will provide updates as the situation develops.
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The U.S. government is rapidly approaching its Dec. 20 deadline to agree on federal spending for the fiscal year, which began on Oct. 1. The continuing resolution is set to expire today at midnight. 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 more than $100 million per month of federal funding for research activities,” said Jennifer Bentson, associate vice president for Finance and Planning. “We actively plan for these types of situations, and the Institute is well-positioned in the short term. However, if there is a prolonged federal government shutdown, we would need to take measures to further preserve cash and maintain campus operations.”
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. Mitigation strategies include monitoring cash balances, accelerating federal invoicing, and assessing the need to defer major purchases and non-essential travel.
No effects to Institute operations are expected during winter break when the campus is closed. More information, including how specific federal agencies are affected, will be provided as the situation develops and campus reopens.