Wednesday, May 24, 2006

Did you know?

At present, the federal fiscal year commences on October 1st of the preceeding calendar year. And until fiscal year 1976 the fiscal year commenced on July 1st of the preceeding calendar year. This means that between fiscal year 1976 and 1977 there was a transition quarter which does not belong to any year. Oh the fascinating things one learns in Washington.

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