§16–101.

    (a)    The fiscal year for each county, municipality, or special taxing district begins on July 1 of a calendar year and ends on June 30 of the next calendar year.

    (b)    Each county, municipality, and special taxing district shall use the fiscal year for:

        (1)    appropriating money;

        (2)    authorizing expenditures; and

        (3)    balancing books and accounts.