Terms Used In Maryland Code > TRANSPORTATION > Title 8 > Subtitle 6 > Part III - Contracts and Accounts

• Contract: A legal written agreement that becomes binding when signed.
• 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.
• state: means :
  
  (1) a state, possession, territory, or commonwealth of the United States; or
  
  (2) the District of Columbia. See