Explore our report on Federal Spending Fiscal Year-End 2020 with key insights on contract awards, spending patterns, top sectors and agency preferences for businesses.
It's that time of year again; the fiscal year-end report for 2020 has just been released. This comprehensive analysis gives a detailed account of government contract awards, with an emphasis on the significant spending boost that traditionally transpires in September - the closing month of the fiscal year. Let's dig into the key insights from the report.
This extensive study illustrates a distinct pattern in federal spending:
The big spenders during this period include the Army, Navy, VA, Air Force, and Defense Logistics Agency. What's striking, though, is that four agencies (VA, NIH, Customs and Border Protection, State Department) dedicated over a quarter of their yearly contract awards to September 2020 alone.
The top sectors for September 2020 were:
Interestingly, the report also provides a breakdown of awards per specific NAICS codes via the GSA Schedule.
When it comes to size, small businesses made up about 30% of all contract awards. This distribution paints a picture of the balance between small concerns and businesses of other sizes.
Breaking it down by contract type, Indefinite Delivery Contracts (IDCs) and Federal Supply Schedules (FSS) were a common sight. Small businesses, in particular, secured a significant portion of their awards through GSA and VA Schedule Contracts.
The FBI stood out by awarding almost 40% of its Fiscal Year 2020 contracts in September alone. For a more granular understanding, an interactive chart details the total contract awards for Fiscal Year 2020, the percentage of awards handed out in September, and awards coordinated through the GSA/VA Schedules.
Sourced from SAM.gov, the data underscores the cyclical nature of federal spending, spotlighting the surge in contract awards at the fiscal year-end. This information creates an invaluable resource for businesses aiming to engage in government contracting, by offering insights into spending patterns, key sectors, and agency preferences. The expertise of a former GSA Schedule Reviewer helps us offer excellent GSA Schedule Consulting services.
Pedro has extensive background as a Contracting Officer and Contract Specialist, has worked across seven federal agencies, managing contracts totaling over $1 billion in the professional and tech sectors. His notable tenure includes serving with the DoD/DARPA during the inception of their robotics program. Additionally, he played a pivotal role in initiating the Cyber Special Item Number (SIN) within the GSA's IT Schedule 70 as a Team Lead. After graduating from Harvard, he started Blackfyre to help you win your next contract.
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