What is the fiscal year for the state of Illinois?

The fiscal year for the state of Illinois runs from July 1 to June 30. This timing aligns with the budgetary planning and allocation processes within the state government, allowing for the fiscal activities to coincide with various funding cycles, state revenues, and program implementations. The choice of July to June also follows a standard practice observed by many state governments, as it conveniently aligns with the end of the academic year and various governmental reporting requirements. Understanding the fiscal year is crucial for comprehending how the state manages its finances, including revenues, expenditures, and budgetary priorities, which significantly affect public services and programs.