With the passing of the Modernizing Government Technology Act of 2017 (MGT), authorities recognized the critical need for Federal agencies to update their systems and align with the latest gains in technology. Agencies now have at their disposal two options to fund IT and HPC infrastructure initiatives:
- The Technology Modernization Fund (TMF). Supervised by a diverse board of experts in technology, transformation, and operations, The Technology Modernization Fund (TMF) evaluates proposals to fund individual projects. As noted on its website, “TMF is an innovative funding vehicle that gives agencies additional ways to deliver services to the American public more quickly, better secure sensitive systems and data, and use taxpayer dollars more efficiently.”
- Each agency can also establish Working Capital Funds (WCF) providing more flexibility for appropriating spending across multiple fiscal years and programs.