1. (a) The fiscal year for the State and its officers and units begins on July 1 of a calendar year and ends on June 30 of the next calendar year.

2. (b) Each officer and unit of the State government shall use the fiscal year for:

   1. (1) appropriating money;
   2. (2) authorizing expenditures;
   3. (3) keeping records;
   4. (4) balancing books and accounts; and
   5. (5) making reports.

Added by Acts 1985, c. 11, § 2, eff. Oct. 1, 1985.

Formerly Art. 19, § 29, Art. 81, §§ 2, 29A.