Illinois Compiled Statutes 110 ILCS 805/7-5 – The fiscal year shall commence on the first day of July and end on …
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Terms Used In Illinois Compiled Statutes 110 ILCS 805/7-5
- 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.
The fiscal year shall commence on the first day of July and end on the last day of June of each succeeding year.