Section 120. The fiscal year of all districts shall begin with July first and end with the following June thirtieth, notwithstanding the provisions of special laws or district by-laws to the contrary; provided that the district treasurer shall until July tenth enter on his books all items for the payment of bills incurred and salaries and wages earned during the previous fiscal year, and expenditures therefor shall be deemed to be as of the preceding June thirtieth.

Terms Used In Massachusetts General Laws ch. 41 sec. 120

  • district: as used in this chapter , shall mean a fire, water, sewer, water pollution abatement, refuse disposal, light, or improvement district, or any other district, howsoever named, formed for the purpose of carrying out any of the aforementioned functions, whether established under general law or special act. See Massachusetts General Laws ch. 41 sec. 1A
  • Fiscal year: The fiscal year is the accounting period for the government. For the federal government, this 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.
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