The term budget year refers to the fiscal year of the government that begins on October 1 of the calendar year when a particular session of Congress starts. This timeframe is crucial for understanding government funding and financial planning, as it dictates how federal budgets are created and enacted.
The concept of a budget year is primarily used in governmental and legislative contexts. It plays a significant role in:
Understanding the budget year is essential for individuals and organizations that engage with federal funding or seek to understand the timing of government financial decisions. Users can utilize resources like US Legal Forms to access templates related to budget proposals and fiscal management.
Here are a couple of examples of abatement:
Example 1: A nonprofit organization applies for federal grants that are allocated based on the budget year. They must submit their proposals before the start of the new budget year to be considered for funding.
Example 2: (hypothetical example) A state agency plans its programs and expenditures according to the federal budget year, ensuring that their requests for funding align with the federal fiscal calendar.
If you are involved in federal funding or budgeting processes, it is important to be aware of the budget year. Here are some steps to consider:
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| Attribute | Details |
|---|---|
| Start Date | October 1 |
| End Date | September 30 of the following year |
| Relevance | Federal budget planning and appropriations |
The budget year is the fiscal year of the government that starts on October 1 of the calendar year when a session of Congress begins.