The County operates on a fiscal year, which begins July 1 and ends June 30 of the following year. The 2011-12 recommended budget is $23.303 billion. The Chief Executive Office presents a recommended budget to the Board of Supervisors in April and the Board adopts the budget in June after holding public hearings. After the books are closed June 30, the Auditor-Controller's Office calculates total expenditures and income for that year and the Board makes changes to the new budget based on those numbers. This is called the final adopted budget and is generally adopted in September or October.