From the Congressional Glossary – Including Legislative and Budget Terms
Fiscal Year
photo credit: MBoy68Fiscal Year: Any yearly accounting period, regardless of its relationship to a calendar year. The federal government’s annual accounting period. Financial operations of the government are carried out in a 12-month accounting year, beginning on October 1 and ending on September 30. Each fiscal year is identified by the calendar year in which it ends and commonly is referred to as “FY;” for example, fiscal year 2020 (FY2020) begins on October 1, 2019 and ends on September 30, 2020. See 31 U.S.C. § 1102.
From fiscal year 1844 to fiscal year 1976, the fiscal year began July 1 and ended the following June 30. The 3-month period, July 1, 1976, to September 30, 1976, between fiscal years 1976 and 1977 is called the “transition quarter” (TQ).
Prior Year: The fiscal year immediately preceding the current fiscal year.
See also
- Chapter 7, Legislating in Congress: Federal Budget Process, in Congressional Deskbook
- The Federal Budget Process: A description of the federal and congressional budget processes, including timelines
- Chapter 7 – The Congressional Budget and Other Special Cases; Chapter 7.C. The Congressional Budget Resolution; in Congressional Procedure
2018-003 Hearing: The President’s Fiscal Year 2019 Budget
More
- “Basic Federal Budgeting Terminology,” CRS Report 98-410 (6-page PDF
) - “The Federal Fiscal Year,” CRS Report 98-325 (3-page PDF)
- “The Federal Budget: Overview and Issues for FY2017 and Beyond,” CRS Report R44428 (28-page PDF)
- “A Balanced Budget Constitutional Amendment: Background and Congressional Options,” CRS Report R41907 (53-page PDF)
- “The Corporation for Public Broadcasting: Federal Funding and Issues,” CRS Report RS22168 (15-page PDF)
- “Foreign Aid: An Introduction to U.S. Programs and Policy,” CRS Report R40213 (44-page PDF)
- “Discretionary Budget Authority by Subfunction: An Overview,” CRS Report R41726 (45-page PDF)
- “Continuing Resolutions: Overview of Components and Recent Practices,” CRS Report R42647 (38-page PDF)
Courses
- Congressional Operations Briefing – Capitol Hill Workshop
- Drafting Federal Legislation and Amendments
- Writing for Government and Business: Critical Thinking and Writing
- Custom, On-Site Training
- Congressional Operations Poster, with Federal Budget Process Flowchart
- Federal Budgeting, a Five-Course series on CD
- Congress, the Legislative Process, and the Fundamentals of Lawmaking Series, a Nine-Course series on CD
Publications
The Federal Budget Process 2E
Pocket Constitution
Citizen’s Handbook to Influencing Elected Officials: A Guide for Citizen Lobbyists and Grassroots Advocates
Congressional Procedure
CongressionalGlossary.com, from TheCapitol.Net
For more than 40 years, TheCapitol.Net and its predecessor, Congressional Quarterly Executive Conferences, have been teaching professionals from government, military, business, and NGOs about the dynamics and operations of the legislative and executive branches and how to work with them.
Our custom on-site and online training, publications, and audio courses include congressional operations, legislative and budget process, communication and advocacy, media and public relations, testifying before Congress, research skills, legislative drafting, critical thinking and writing, and more.
TheCapitol.Net is on the GSA Schedule, MAS, for custom on-site and online training. GSA Contract GS02F0192X
TheCapitol.Net is a non-partisan small business.
Teaching how Washington and Congress work ™
