Government Matters Logo
Generic selectors
Exact matches only
Search in title
Search in content
Search in posts
Search in pages
Jim Taylor, managing director at Grant Thornton and former CFO at the Department of Labor, discusses the impact of continuing resolutions on government financial professionals, and what the year ahead could hold.

While the Fiscal New Year starts on October 1, the continuing resolution delays the full appropriations deadline until November. Agency financial professionals are used to the challenges associated with these resolutions, but Jim Taylor, Managing Director at Grant Thornton and former CFO at the Department of Labor, says that with growing budgets and complex programs, they’re becoming a big problem.

 

“For the first time in the last few years, budget uncertainty has become a concern. In the past, they just said we can make do, but now it’s not just the CR, it is the lack of the ability to plan. There’s no long-term thinking. It’s the fact that two-thirds of the $4 trillion budget aren’t even appropriated, they’re mandatory programs.” Taylor said. “We had an omnibus, and we had a shutdown for 35 days that affected 20 agencies. It creates a real imbalance in delivery of services by the federal government and It creates an inability to plan. CFOs now are trying to get that portion of the money at last year’s levels. If you have new programs you can’t do anything.”

Share This
Where to Watch
  • WJLA 24/7 News
    Weeknights at 8 PM and 11 PM on WJLA 24/7
  • ABC7
    Sunday Mornings at 10:30 AM on ABC7
  • AFN American Forces Network
    Worldwide on American Forces Network
Sponsored

Transform Data: Protect. Automate. Modernize., The Future of Cloud Data Management

Watch on Thursday, December 10th at 11:30 a.m. WJLA 24/7 News
More
December 2020
M T W T F S S
« Nov    
 123456
78910111213
14151617181920
21222324252627
28293031  
Our Brands
  • Government Matters Logo
  • Government Matters Defense
  • Government Matters Thought Leadership Network