The Fiscal Year
“Fiscal” deals with taxation, public revenues, or public debt.
The fiscal year is a 12-month accounting period without regard to a calendar year.
The federal government’s fiscal year starts on October 1 and ends September 30. The current federal fiscal year is FY 2008.
California’s fiscal year starts on July 1 and ends June 30. The current state fiscal year is FY 2008.