What date marks the start of the fiscal year?

The start of the fiscal year for New York City's budget is July 1st. This date marks the beginning of the budget cycle, which runs from July 1st of one year to June 30th of the following year. Understanding the fiscal calendar is crucial for managing budgets, planning expenditures, and ensuring that funding aligns with the city's operational needs.

July 1st is significant as it allows the city time to review and implement budgetary changes and allocate resources effectively. By starting the fiscal year at this date, it aligns with the state and federal fiscal years in many respects, which aids in financial planning and coordination of funds.

The other dates do not coincide with this established fiscal period. June 30th is actually the last day of the previous fiscal year, and dates like July 15th and August 1st fall well into the new fiscal year and do not represent the official start of budget planning and execution. Thus, the correct answer reflects the formal beginning of financial operations for the city government.