Recruiter's Glossary

Examples: Compliance Monitoring • Parliamentary Procedure • Public Policy

Fiscal Year

Term from Public Administration industry explained for recruiters

A Fiscal Year is the 12-month period that organizations use for financial planning and reporting, which often differs from the regular calendar year. In government and public sector roles, this typically runs from October 1 to September 30 in the United States, though some organizations may use different dates. Understanding fiscal years is important because budgets, financial reports, and many job responsibilities in public administration revolve around this time frame rather than the regular January-to-December calendar.

Examples in Resumes

Managed department budget of $2M for Fiscal Year 2022

Prepared quarterly financial reports aligned with FY deadlines

Led team of 5 accountants through Fiscal Year end closing processes

Typical job title: "Government Budget Analysts"

Also try searching for:

Budget Analyst Financial Analyst Government Accountant Public Finance Manager Financial Management Specialist Budget Officer Fiscal Officer

Where to Find Government Budget Analysts

Professional Organizations

Job Boards

Professional Networks

Example Interview Questions

Senior Level Questions

Q: How would you handle a situation where actual expenses are trending significantly over budget mid-fiscal year?

Expected Answer: A senior candidate should discuss implementing spending controls, identifying areas for cost reduction, reprogramming funds if allowed, and communicating with stakeholders about budget adjustments.

Q: Describe your experience with fiscal year-end closing procedures.

Expected Answer: Should demonstrate knowledge of account reconciliation, ensuring all transactions are properly recorded, coordinating with various departments, and preparing final financial statements and reports.

Mid Level Questions

Q: What's your process for preparing fiscal year budget projections?

Expected Answer: Should explain gathering historical data, consulting with department heads, considering upcoming projects, and using forecasting methods to estimate future needs.

Q: How do you track expenses throughout the fiscal year to ensure budget compliance?

Expected Answer: Should discuss regular monitoring of expenditures, creating periodic reports, using financial management systems, and communicating with department managers about spending patterns.

Junior Level Questions

Q: What is the difference between a fiscal year and a calendar year?

Expected Answer: Should explain that a fiscal year is a 12-month accounting period that can start in any month, while a calendar year always runs January through December.

Q: What basic reports are typically required at the end of a fiscal year?

Expected Answer: Should mention basic financial statements, budget vs. actual reports, and other standard end-of-year documentation required by government agencies.