When Does the Federal Fiscal Year Begin? Dates and FY Labels

The federal fiscal year begins on October 1 and ends on September 30 of the following calendar year. It is named for the calendar year in which it ends. For example:

• FY 2026: October 1, 2025–September 30, 2026
• FY 2027: October 1, 2026–September 30, 2027

USAGov describes the federal fiscal year as running from October 1 through September 30. The IRS glossary gives the same year-labeling convention, using FY 2025 as an example that runs from October 1, 2024, through September 30, 2025.

How to read an FY label

To identify the dates covered by a federal fiscal year, use the number in the label as the ending year, then count back to October 1 of the prior calendar year:

FY YYYY = October 1 of YYYY−1 through September 30 of YYYY.

This means an FY label does not identify a January-through-December period. Federal FY 2026 spans part of calendar year 2025 and part of calendar year 2026.

Check the coverage before comparing records

When you review federal budget or spending records, write down the fiscal-year label and its beginning and ending dates before comparing figures. Also note the record’s relevant date, account or award type, whether the amount is an obligation or outlay, and whether it is a summary or a transaction. Modern Action’s government-spending guide recommends comparing like with like and avoiding overlapping records.

Keep fiscal-year dates separate from funding status

The fiscal-year calendar tells you which period a label covers. It does not by itself establish whether proposed funding became law. For that question, see Modern Action’s appropriations guide, which explains that an appropriations bill proposes funding and that its status should be checked before treating a proposed amount as law.