A government has a fiscal year end of June 30, 20X6. Tax bills for each fiscal year are prepared and mailed in June prior to the beginning of the fiscal year for which they apply. Tax revenue for the fiscal year ending June 30, 20X6, would include

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Taxes levied in June 20X5 for the fiscal year ending June 30, 20X6, would include taxes that became available in June 20X5, during the fiscal year (between July 1, 20X5, and June 30, 20X6), or within 60 days following the fiscal year end (by August 29, 20X6). This accounts for the accrual of taxes levied prior to the fiscal year that are intended for that fiscal year's budget.

A Government Has a Fiscal Year End of June 30