State Fiscal Year = A 12-month period used for budget and accounting purposes. The state fiscal year runs from July 1 through June 30 of the following year, and is named for the calendar year in which it ends (e.g., July 1, 2023 through June 30, 2024 is state Fiscal Year 2024).
This means that the academic calendar year 2023-24 falls within state fiscal year 2024. Academic calendar year 2024-2025 falls within fiscal year 2025 and so on.
State Biennium = Washington enacts budgets on a two-year cycle, beginning on July 1 of each odd-numbered year. For example, the budget approved for the 2023–25 biennium remains in effect from July 1, 2023 through June 30, 2025. It is referred to as the “2023–2025 biennial budget.”
Federal Fiscal Year = A 12-month period used for federal budget and accounting purposes. The federal fiscal year runs from Oct. 1 through Sept. 30, and is named for the calendar year in which it ends (e.g., Oct. 1, 2023 through Sept. 30, 2024 is federal Fiscal Year 2024).
While most students and faculty start their school year in the fall, the college academic (instructional) year includes summer, fall, winter and spring quarters.
Last Modified: 7/18/23, 3:00 PM