M1922 m2

[Cosine26]

I believe tht the FY change came about during FY77. Until then the FY ended on 30 June. When the change was made, an extra quarter was added, known as the "7T" quarter. I was managing an engineering branch with the USN at the time and it rasied havoc with the accounting and budgeting system. That's how I remember it. As I remember it, the change was made to make it easier for the Congress to pass a budget. How's that working out? Congress was usually on summer vacation when the FY ended in June;so it was decided to move the end of the FY to 30 Sept when congress would have reconvened.