fiscal year

The fiscal year is the accounting period for the federal government which begins on October 1 and ends on September 30. The fiscal year is designated by the calendar year in which it ends; for example, fiscal year 2006 begins on October 1, 2005 and ends on September 30, 2006. Congress passes appropriations legislation to fund the government for every fiscal year.

Any 12-month period established for accounting purposes

The budget year for the U.S. government. It begins on October 1 and ends on September 30 of the following year.