Terms Used In South Carolina Code 59-149-120

  • 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.
Any funds appropriated by the General Assembly to the Commission on Higher Education or any other agency, department, or institution to provide funding for these LIFE Scholarships may be carried forward from fiscal year to fiscal year.