The first day of July may be the middle of summer in Alaska, but for many agencies and the state government, July 1st is the beginning of a new year.
The start of Fiscal Year 2011 means state agencies have a new budget and funding for the next 12 months. Many non-profits and other organizations that get a lot of their funding from the state or municipal sources also ascribe to the July to June fiscal year.
Both the Kodiak Island Borough and the City of Kodiak begin their new fiscal year on July 1st as well.
When the Alaska Legislature meets in Juneau each January, one its prime task is to establish the budget for the coming fiscal year. So the fiscal year just starting is the one we heard so much talk about during and immediately after the legislative session.
Many people who are not used to dealing with the state’s 6-month-in-advance fiscal year have trouble keeping track.
But, it could be worse. The federal government’s Fiscal Year 2011 runs from October 2010 through September 2011.
And, in case you’re wondering: Yes, Kodiak Public Broadcasting Corporation and KMXT begins its new fiscal year today (July 1st) as well.