§2–101.

    (a)    The fiscal year for the State and its officers and units begins on July 1 of a calendar year and ends on June 30 of the next calendar year.

    (b)    Each officer and unit of the State government shall use the fiscal year for:

        (1)    appropriating money;

        (2)    authorizing expenditures;

        (3)    keeping records;

        (4)    balancing books and accounts; and

        (5)    making reports.