N.Y. Second Class Cities Law 73 – Fiscal year; departmental estimates
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§ 73. Fiscal year; departmental estimates. The fiscal year of the city shall commence on the first day of January. On or before the first day of November in each year all heads of departments and officers empowered by law or by city ordinance to control or authorize expenditures shall furnish to the mayor estimates in writing of the amount of expenditures for the next fiscal year in their respective departments or offices, including a statement of the salaries of all their subordinates, which estimates the mayor shall lay before the board of estimate and apportionment at its first meeting thereafter, and the same shall be entered in its minutes.
Terms Used In N.Y. Second Class Cities Law 73
- 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.