Appropriation Year and Fiscal Year Comparison
Criteria | Appropriation Year (AY) | Fiscal Year (FY) |
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What it does | Budget period the expenditure/revenue should be counted in | Financial reporting period the transaction should be reported in |
What it specifies | AUTHORITY to spend | FISCAL PERIOD of time |
How long it lasts | Sept.1 to Aug. 31 for depositing and spending But AYs can be used to charge a purchase for two additional FYs beyond the original AY for standard appropriations and up to four additional FYs beyond the original AY for construction appropriations until the funds are:
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Sept.1 to Aug. 31 (or Aug. 32 to post to the year-end adjustment period) |
What the rules are |
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Where it usually counts most |