Government FY 2025 Calendar: A Comprehensive Guide
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Government FY 2025 Calendar: A Comprehensive Guide
Introduction
The Government Fiscal Year (FY) 2025 calendar serves as a roadmap for government operations and financial planning. It outlines key dates and deadlines for federal agencies, contractors, and the general public. Understanding the FY 2025 calendar is essential for effective planning, budgeting, and compliance.
Key Dates and Deadlines
October 1, 2024
- Start of Fiscal Year 2025
- Agencies begin executing their annual budgets
November 15, 2024
- Deadline for agencies to submit budget requests for FY 2026
December 15, 2024
- Deadline for Office of Management and Budget (OMB) to submit President’s budget request to Congress
January 15, 2025
- Deadline for Congress to pass a budget resolution for FY 2026
April 15, 2025
- Tax filing deadline for individuals and businesses
June 15, 2025
- Deadline for agencies to submit mid-session review of FY 2025 budget
September 30, 2025
- End of Fiscal Year 2025
- Agencies must close out their books and prepare financial statements
October 1, 2025
- Start of Fiscal Year 2026
Budget Process
The FY 2025 budget process begins in November 2024 when agencies submit their budget requests to OMB. OMB reviews and analyzes these requests and prepares a President’s budget request, which is submitted to Congress in December.
Congress then considers the President’s budget request and develops its own budget resolution by January 15, 2025. The budget resolution sets overall spending limits and priorities for the upcoming fiscal year.
Based on the budget resolution, Congress appropriates funds to agencies through legislation known as appropriations bills. These bills must be passed by both the House of Representatives and the Senate and signed by the President.
Fiscal Year End
At the end of FY 2025, agencies must close out their books and prepare financial statements. This process includes reconciling accounts, recording all transactions, and preparing reports on financial performance.
Other Important Dates
In addition to the key dates listed above, there are other important dates that may be relevant to government operations and the general public. These include:
- January 20, 2025: Presidential Inauguration Day
- February 15, 2025: President’s Day
- May 26, 2025: Memorial Day
- July 4, 2025: Independence Day
- September 8, 2025: Labor Day
- October 12, 2025: Columbus Day
- November 11, 2025: Veterans Day
- November 27, 2025: Thanksgiving Day
- December 25, 2025: Christmas Day
Implications for Government Contractors
Government contractors should be aware of the FY 2025 calendar and key deadlines. This information is crucial for planning project timelines, submitting bids and proposals, and ensuring timely payments.
Contractors should also be familiar with the government’s fiscal year-end process and the requirements for closing out contracts. Failure to meet these requirements can result in delays in payments or even termination of contracts.
Conclusion
The Government FY 2025 calendar is an essential tool for government agencies, contractors, and the general public. Understanding the key dates and deadlines is vital for effective planning, budgeting, and compliance. By staying informed about the FY 2025 calendar, individuals and organizations can navigate the government’s fiscal year with greater efficiency and accuracy.
Closure
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