Use year has nothing to do with WHEN you can call to make a reservation. That is always 11 months ahead of your check out date for a home resort reservation and 7 months ahead of your check out for a non-home resort reservation.
You do not have to have points in your account when you call. They have to be there when you arrive.
Using your June use year example with a 200 point contract:
On June 1, 2004, you get 200 points into your account. You may use those points for a stay that occurs between 6/1/2004 and 5/31/2005. If you don't use them or bank them by the deadlines, the points expire on 5/31/2005.
On June 1, 2005, you get 200 more points into your account. You may use those points for a stay that occurs between 6/1/2005 and 5/31/2006. If you don't use them or bank them by the deadlines, the points expire on 5/31/2006.
On June 1, 2006, you get 200 more points into your account. You may use those points for a stay that occurs between 6/1/2006 and 5/31/2007. If you don't use them or bank them by the deadlines, the points expire on 5/31/2007.
Etc.
HTH.
Best wishes -