Fiscal year

A fiscal year is a period of time used for calculating annual ("yearly") financial statements in businesses and other organizations. In many jurisdictions, regulatory laws regarding accounting and taxation require such reports once per twelve months, but do not require that the period reported on constitutes a calendar year (that is, January 1 to December 31).

The University of Central Florida and its Student Government Association have fiscal years which end during the summer, both to align the fiscal year with the school year and with the state government's fiscal year. Fiscal years, including the Activity and Service Fee Budget, run from July 1 to June 30 of the succeeding year.