@Ant357627 As far as I'm aware canonical RWBY has no known calendar system (excluding seasons). So we have no real idea how anything's dated. It strikes me as unlikely that they'd be using the Gregorian system, though.
But a source said, "40th Vytal Festival, or 80AGW, the year the show begins". The show also includes the Great War, which takes place about 80 years earlier.
Or as far as we know at this exact moment, it is the Year XXX2. With the Great War taking place about 80 years prior, setting it around XX78.