State Fiscal Year Sample Clauses
The 'State Fiscal Year' clause defines the specific 12-month period used by a state government for budgeting, accounting, and financial reporting purposes. Typically, this period does not align with the calendar year and may, for example, run from July 1 to June 30 of the following year. By establishing the relevant fiscal year, the clause ensures that all financial obligations, reporting requirements, and contract terms are clearly tied to the correct accounting period, thereby preventing confusion and facilitating accurate financial management.
State Fiscal Year the twelve month period commencing July 1 and ending June 30 and designated by the calendar year in which the fiscal year ends (e.g., State Fiscal Year 2017 ends June 30, 2017).
State Fiscal Year. The State of Florida government’s fiscal year, which starts July 1 and ends on June 30.
State Fiscal Year. The period beginning with July 1 and ending June 30.
State Fiscal Year. 6.7.1 Notwithstanding any other provision of this Agreement, all invoices for supplies ordered or services performed, and expenses incurred by Contractor prior to July 1 of each year must be presented to the Department no later than August 5 of each year in order to ensure payment under this Agreement. Failure by Contractor to present such invoices prior to August 5 may require Contractor to seek payment of such invoices through the Illinois Court of Claims and the Illinois General Assembly.
6.7.2 All payments shall be made to conform to State fiscal year requirements regardless of what might or might not be stated elsewhere in this Agreement or any order placed pursuant to the Agreement. Contracts that extend beyond the end of the State's fiscal year (July 1 - June 30), or the payments thereon, may have to be prorated to ensure funds of the appropriate fiscal year are utilized for payment.
6.7.3 It is recognized by the parties that payments at the beginning of the State's fiscal year (July and August payments) are often delayed because of the appropriation process. Such delayed payments shall not be considered late for any purpose, nor shall they constitute a breach.