The fiscal year of the Merged Government shall begin on the first day of July of each year and shall end on the thirtieth day of June next following. Said fiscal year shall constitute the budget year and the year for all financial accounting and reporting for every office, department, agency, board and commission of the Merged Government. The aforementioned provision shall be in addition to, and not in lieu of, any accounting or reporting requirements affecting any official or agency of the Merged Government by state or federal laws.