Obligation
The moment an agency legally commits funds — the year-end rush is an obligation race.
An obligation is the point at which an agency legally commits (obligates) money to a contract. It matters because government money expires.
The federal fiscal year ends September 30, and unspent appropriations mostly vanish. In Q4 (July–September) agencies race to obligate leftover budgets — a flood of awards, especially smaller, faster buys. Being registered and visible before Q4 is the whole game.
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When does the government spend the most money?
The federal fiscal year ends September 30, so agencies rush to obligate leftover budget in Q4 (July–September) — August and September see a surge of awards, especially smaller and faster buys. Most states run July–June fiscal years, so state buying surges in spring.
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