Today marks the first day of Fiscal Year 2010 for most states. There are four states that will begin fiscal year 2010 at some other point, including: New York (April 1st), technically called fiscal year 2009-2010 Texas (Sept. 1st), if anybody knows why they chose a month that is not even the end of a quarter, send us a note as we’re curious Michigan (Oct. 1st), same as federal government Alabama (Oct. 1st), same as federal government The federal government’s fiscal year 2010 will begin on October 1st with a projected deficit of about $1.4 trillion. Like the federal government, most states are probably saying good riddance to F.Y. 2009, but will F.Y. 2010 be any better? Note: The federal government’s fiscal year used to begin on July 1 each year, but was changed in 1976 to allow Congress more time to enact a budget. Yeah…that worked well.
