Group of business people having a meeting

I cannot believe that it’s Oct 3rd, 2022 and the new fiscal year has started with more than $1.18B already obligated.  FY 2022 has been an eventful year, with challenges of the pandemic, the war in Ukraine, and economic challenges, all of which affect the federal government spend, specifically federal contracts awarded.

So how much did the federal government award in FY 22? As of today, $555.9B was awarded in federal contracts – of course, this number will change as the DoD awards that are subject to 90-day delays are made public.  This number is slightly higher than what we did at this time last year.

Chart of All US Federal Agency Expenditures

Chart from Fedmine showing all US federal agency expenditures. Click image to see full report.

Civil, Legislative, and Independent agencies awarded $258.6B in contracts for FY 22, an increase of $13B from FY 21, an increase of 5.33%.  A quick look at the top 20 agencies indicates that many agencies such as the Dept of Energy, VA, GSA, State, Transportation, Interior and EPA saw a double digit percentage increase in their spend.

Civil, Independent and Legislative Agencies

Chart of Civil, Independent and Legislative agency spend. Shows increase between FY22 and FY21

With the new fiscal year already underway we already have more than $1.18B awarded in contracts to 1,816 companies.  The Dept of Veterans Affairs is the largest agency followed by the Dept of Treasury and the Social Security Administration.  See here for the full report.

Top 10 Prime Contractors of 2022

Top 10 Prime Contractors of 2022

I do expect the spending in FY 2023 to reflect not only the existing challenges of the economy and the pandemic but also the new challenges with Hurricane Ian.

Stay tuned for more analysis in the coming months.  Any questions or thoughts?  Do send me an email at amehan@govspend.com

Published On: October 3rd, 2022Categories: Federal

About the Author: Archisha Mehan

Archisha Mehan is the Head of Federal, Public Sector at GovSpend. With over 25 years of experience across industries including SaaS solutions and banking, Archisha manages change by focusing on customers, solutions, sales & marketing, and people.
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