Overview

As of Sep 26, 2023, negotiations in Congress are ongoing about funding for the upcoming fiscal year starting on Oct 1, 2023. If funding is not provided by the start of the fiscal year, the government would effectively shut down. Federal workers would be furloughed without pay. “Essential” workers would continue, but also without pay.

Impact

While there are significant functional and human implications of a government shutdown, we do not foresee any direct impacts to accounting, middle-office, or back-office operations. A US government shutdown does not result in a US debt default.

We will continue to monitor the ongoing developments and will update this page if any impacts are identified that we believe may impact our clients.