FY (Fiscal Year)
The federal fiscal year runs October 1 to September 30. FY2026 started October 1, 2025.
Why It Matters
The fiscal year drives the entire rhythm of federal procurement. Budget formulation happens 18+ months before the fiscal year starts. Year-end spending surges in August and September. Continuing resolutions (CRs) freeze spending at prior-year levels and can delay new programs. Understanding the budget cycle is essential for capture planning.
Related Terms