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A fiscal analysis required by law that is prepared by the Legislative Service Commission's Legislative Budget Office staff and that estimates the financial impact of proposed legislation on state and local government revenues and expenditures. This analysis is published and updated for individual bills as part of the combined Fiscal Note and Local Impact Statement. See also Local Impact Statement.
A 12-month budget and accounting period used for fiscal planning purposes. The state fiscal year (usually abbreviated FY, but sometimes SFY) begins July 1 and ends June 30. The federal fiscal year (FFY) begins October 1 and ends September 30. The year identified with a fiscal year is the year of the ending date. Therefore, FY 2021 is the 12-month period starting July 1, 2020 and ending June 30, 2021.