Restrict employee to apply for absence only once in a financial year

Summary:

Hi, We have a requirement in which festival leave (only absence type is there.no absence plan)can be applied only once in a financial year. I have written a Global absence entry validation fast formula for achieving the same. The formula is working fine when the HR is applying for absence on behalf of the employee. But when an employee applies, the leave gets submitted but the HR is unable to approve the leave because of the error that the leave is already applied in the financial year.

I have also attached the fast formula that I have written for the same. Please let me know if I should change any logic inside the formula as the issue seems strange.