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Terms Used In Illinois Compiled Statutes 20 ILCS 1305/1-40

  • Fiscal year: The fiscal year is the accounting period for the government. For the federal government, this begins on October 1 and ends on September 30. The fiscal year is designated by the calendar year in which it ends; for example, fiscal year 2006 begins on October 1, 2005 and ends on September 30, 2006.
     For authorized Medicaid services to enrolled individuals, Division of Substance Use Prevention and Recovery and Division of Mental Health providers shall receive payment for such authorized services, with payment occurring no later than in the next fiscal year.