A fiscal year (usually abbreviated ‘FY’) is the period used for calculating annual budgets. The state of Oklahoma’s fiscal year runs from July 1 to June 30. Each fiscal year is named after the calendar year that it ends in. For example, Oklahoma’s fiscal year 2021 (FY 2021) covers the period from July 1, 2020 to June 30, 2021.
Federal fiscal years (usually abbreviated ‘FFY’) run from October 1st to September 30th.