The US government’s fiscal year ends on September 30 of the year following the calendar year it begins in. For example, the 2024 fiscal year began on October 1, 2023, ending on September 30, 2024. The fiscal year is the accounting period for the federal government. It’s often called “FY,” followed by the year it ends. For example, the 2024 fiscal year is “FY2024”. The federal budget process involves the president, Congress, and federal agencies working together to create a budget for the upcoming fiscal year. The president’s proposal to Congress recommends funding levels for the next fiscal ye…