Terms Used In Texas Local Government Code 101.022

  • 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.
  • Municipality: means a general-law municipality, home-rule municipality, or special-law municipality. See Texas Local Government Code 1.005

The municipality may:
(1) control and manage the finances of the municipality; and
(2) prescribe its fiscal year and other fiscal arrangements.