Section 16-101 - Fiscal year(a) The fiscal year for each county, municipality, or special taxing district begins on July 1 of a calendar year and ends on June 30 of the next calendar year.(b) Each county, municipality, and special taxing district shall use the fiscal year for: (2) authorizing expenditures; and(3) balancing books and accounts.Revised and recodified by 2013 Md. Laws, Ch. 119,Sec. 2, eff. 10/1/2013.