FEMA could run out of disaster aid funds by height of hurricane season, agency warns [Video]

WASHINGTON – FEMA’s budget shows its Disaster Relief Fund (DRF) running dry in August, at the height of an Atlantic hurricane season that the National Hurricane Center forecasts to be “very busy.”

By the end of the fiscal year on Sept. 30, FEMA expects to run at a $6.281 billion deficit. This estimate is based on a 10-year average. But FEMA is coming off 2023, which set a record for the highest number of billion-dollar disasters, costing $92.9 billion.

“Since the beginning of 2023, FEMA has projected that DRF balances are insufficient to meet requirements,” the agency said in a statement. “To mitigate this risk, FEMA has prioritized an effort to identify and recover excess funds from previously obligated contracts, grants, and mission assignments. Through these efforts, FEMA has recovered over $6 billion. FEMA will continue to recover unneeded funds, however, recoveries will not be sufficient to prevent the DRF from running out of money.”

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