The U.S. federal government's fiscal year begins on 1 October of the previous calendar year and ends on 30 September of the year with which it is numbered. Prior to 1976, the fiscal year began on 1 July and ended on 30 June. The Congressional Budget and Impoundment Control Act of 1974 stipulated the change to allow Congress more time to arrive at a budget each year, and provided for what is known as the transitional quarter from 1 July 1976 to 30 September 1976.