Q:  If a housing record has had a change, will that be reflected in this nightly run of statements?

                  Yes

Q. If there are new finaid awards, will they also show up?

                 Yes

Q:  Could I have had this running in April-June?  Would it work even before new FY has been opened, or must I wait til new FY open before I can run real statements?  (am thinking ahead to next year on this one)

Yes you could have run it this way in April-June.  The Fiscal year has no bearing on when the statements are run unless you do not want the charges for the next fall to hit in the current year.