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Appropriation Year and Fiscal Year Comparison

Criteria Appropriation Year (AY) Fiscal Year (FY)
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:
  • Spent
  • Encumbered and spent
  • –OR–
  • Lapsed
Sept.1 to Aug. 31 (or Aug. 32 to post to the year-end adjustment period)
What the rules are
Where it usually counts most