Section 12B. Notwithstanding any general or special law to the contrary, and in accordance with generally accepted accounting principles, the fiscal year for the payment of classified personal services shall be the fiscal year established by clause ninth of section 7 of chapter 4.

Terms Used In Massachusetts General Laws ch. 29 sec. 12B

  • 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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