Beginning Of Fiscal Year 2024. The federal budget deficit totaled $531 billion in the first four months of fiscal year 2024, the congressional budget office. The following amended standard will be effective for audits of financial statements for fiscal years beginning on or after december 15, 2024.

At uci, the fiscal year begins on july 1 and ends on june 30. It signifies a specific fiscal year extending from an organization’s chosen start date in 2023 to its selected end date in 2024.