U-Year (University Year) and Calendar/Fiscal Year Definitions

The University of Michigan uses the following definitions for the purpose of calculating the two-month limit on salary requested in the proposal budget for senior personnel: 

• A calendar year is the 12 month period starting January 1 and ending December 31.
• A fiscal year is the 12 month period starting July 1 and ending June 30.
• A University Year (aka U-Year), per Sec. 5.01 of the University of Michigan's bylaws and as used in connection with appointments of members of the faculty and other personnel, contains any two terms in the calendar, as defined for the year in question.