Paoli 1 does not operate on a traditional calender year ending with December 31st. For Paoli 1, the Troop Year begins and ends with the conclusion of the award ceremony during the Annual Birthday Celebration. The Troop Birthday falls on the second Saturday in June therefore for all intents and purposes, that is New Year's Day for Paoli 1. This arrangement conveniently and coincidentally mimics the school year which also ends around the same time.
In addition to simply celebrating the Birthday, the new scouting year marks the end as well as the beginning of all leadership terms. The Birthday is the very last event of the year, the culmination of all the patrols have learned through that year. Once it ends all positions of responsibility end as well (typically to be replaced by new ones). The most senior Staff graduate into the Man Scouts, junior Staff move into the senior positions, Patrol Leaders advance into Staff, APLs become PLs, etc. It is a time of reordering within the Troop as leadership shifts (sometimes drastically if there is a major reordering of patrols). The first test of the new leadership is Horseshoe a few weeks later.