PHP end a financial year in june of every year

I would like to do something of this sort in php, when the month reaches June 2016, I would like to echo 2016-17, but before that i echo 2015-16 What I have so far echos 2015-16 meaning it changes with the beginning of the year, but i would rather it does that in june onwards,

echo   date('Y') .'-'.date('y', strtotime('+1 year'));

Any suggestions

Answer

Very basic but you can use it:

<?php
if (date('m') > 6) {
    $year = date('Y')."-".(date('Y') +1);
}
else {
    $year = (date('Y')-1)."-".date('Y');
}
echo $year; // 2015-2016
?>

Explanation:

If current month is greater than 6 than it will print current year and +1 Year and hyphen (-) between them.

If current month less than 6 than it will print current year and -1 Year and hyphen (-) between them.