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[[underlined]] Change in Smithsonian Fiscal Year [[/underlined]]

The Congressional Budget and Impoundment Control Act of 1974 changes the federal fiscal year from July 1 - June 30 to October 1 - September 30, beginning October 1, 1976.  At its meeting of January 21, 1885, the Board of Regents resolved:

"That the fiscal year of the Institution shall hereafter terminate on the 30th day of June in each year."

Thus, since 1885 the fiscal year of the Institution, for both appropriated and private funds, has been the same as the federal fiscal year.  To continue this practice, it was recommended that the new federal fiscal year be adopted by the Board of Regents as the fiscal year of the Institution.  The Board approved the following motion:

VOTED that, beginning October 1, 1976, the fiscal year of the Institution shall begin on October 1 of each year and end on September 30 of the following year.