Impact of Federal Budget Impass
As most of you know, tomorrow is the last day of the federal government’s fiscal year, and no budget or continuing resolution has been approved (as of the date and time of this post) to keep the federal government running. What impact will this have on you as a local government in NC? Below is a list of some of the more common issues locals may face. It is certainly not a complete list!
- Operations of the USDA may be affected. USDA will likely not be open to issue the revenue bonds to replace any BANS that expire while the operations of the government are shut down,
- Units waiting on permits from the federal government will be on hold, which may delay projects and financings,
- Federal funding commitments (grants, program funding, FEMA possibly) will be stalled along with sign-off on payment requisitions from federal funders.
Again, this is only a partial list of potential effects on our local governments. If you believe you are going to have cash flow issues as a result of the pending shutdown, please contact us to discuss. Thanks!