Technology Modernization Fund: Small Savings Achieved So Far, but Substantial Future Savings Expected

What GAO Found The Technology Modernization Fund (TMF) invests funding in agency projects to, among other things, modernize aging federal information technology (IT) systems. From fiscal years 2018 through 2025, the TMF received over $1 billion in net appropriations, of which the Technology Modernization Board invested about $1.03 billion in 68 unclassified projects (see figure). As of June 2025 (the latest data available at the time of this analysis), 24 TMF projects expected to achieve total savings of about $1.06 billion.