1. A. The fiscal year for the state and for the counties, cities, towns, villages and school districts thereof begins on July 1 and ends on June 30. The year beginning on July 1, 1925 shall be known as the fourteenth fiscal year.
2. B. Beginning July 1, 1994, the fiscal year shall be cited by citing the calendar year in which the fiscal year ends. The fiscal year beginning July 1, 1994 shall be fiscal year 1995.

History: Laws 1903, ch. 108, § 7; Code 1915, § 5330; Laws 1925, ch. 80, § 1; C.S. 1929, § 134-409; 1941 Comp., § 7-201; 1953 Comp., § 11-2-1; 1994, ch. 12, § 1.

ANNOTATIONS

Cross references. — For provision that current year is same as fiscal year, see 6-6-17 NMSA 1978.

The 1994 amendment, effective May 18, 1994, designated the previously undesignated language as Subsection A; added Subsection B; and, in Subsection A, substituted "begins on July 1 and ends" for "shall begin on July 1 and end" in the first sentence and deleted the former last sentence, relating to appropriations for state purposes.

Am. Jur. 2d, A.L.R. and C.J.S. references. — 81A C.J.S. States § 203.