ADDITIONAL MONEY LIKELY COMING FOR TECH MODERNIZATION FUND
The Technology Modernization Fund (TMF) may get additional money after all, once Senate appropriators finish their work on outstanding appropriations bills. The Fund, a revolving account designed to encourage federal agencies to specifically replace obsolete technology, was originally slated to get $150 million extra for FY’19. That money, however, was stripped out by Senators who had concerns over transparency and accountability. Those issues seem to have largely been addressed now and Congressional supporters are optimistic that at least a portion of the $150 million originally slated will be provided. There are $55 million left in the fund from the original FY’18 appropriations, with much of that money expected to be obligated to specific projects soon. Contractors are being encouraged to play a role in promoting the Fund to their customers. While many federal agencies now about the Fund, some still do not. You cannot assume that your buyer knows about this unique source of funding. Make sure you know how projects can qualify and where to point your customers to in order to get additional information. Remember, too, that Fund money must be repaid by agencies that use it. Helping your customer to devise a business case to obtain Fund money is a good strategy that could pay-off for both customer and contractor.