Academic year and fiscal year

The academic year begins at:

• August for first and second year students

• June for third year students

• May for fourth year students

The fiscal year begins July 1 when new budgets take effect. In running text, it is most clear to name both years that comprise the academic or fiscal year. For example:

Federal funding to UIC grew during academic year 2005–2006.

In abbreviations, frequently preferred for charts, tables and lists, it is acceptable use AY or FY followed by the calendar year during which the academic or fiscal year ends. For example:

a fiscal year beginning in July 2015 and ending in June 2016 may be abbreviated FY 2016.