June 30 marks the end of the fiscal year in 46 states, according to the National Conference of State Legislatures. Many cities and counties, likewise, have fiscal year-ends on June 30.
“In Connecticut, our fiscal year-end is June 30th. Purchasing agencies are always scrutinizing their budgets, but between mid-March and the fiscal year-end, this is when the bulk of the unplanned Connecticut Department of Administrative Services.accelerates, if there are dollars available,” says Carol Wilson, C.P.M., who is Director of Procurement for the
Wilson recently discussed fiscal year-end spending in her presentation at the National Association of State Procurement Officials’ How to Market to State Governments 2016 meeting in March. Wilson told vendors, contractors and purchasing officials in attendance to pay attention to the fiscal year in government agencies.
Wilson noted: “At the end of the fiscal year, much spending occurs, and agencies may face use it or lose it budget decisions. Purchase orders are being created at this time, so it’s important for vendors and suppliers to engage with agency buyers.”
Of course, vendors need to pay attention to governments' end of fiscal years, says David Smith, Director, State and Local Government Sales at IT technology provider Citrix.
“Local and state government budgets have use-it-or-lose-it spending policies as the fiscal year ends, along with different kinds of federal grants that may have different constraints on how and when they are used,” Smith explains.
Learn more about fiscal year-end spending and selling strategies from government officials, trade groups and vendors at this site. Former government managers and government marketers talk about agency spending prior to the June 30 fiscal year-end here.