Dropdown List

HI Guys,
i am trying to find a way to select a specific value from the dropdown list (using Database Table under Lookup wizard)
example:
I have selected table called Financial Year which is have filed (2014-2015, 2015-2016, 2016-2017) and i want that when user tries to add a entry via Add page Financial Year field should have selected "2015-2016" instead of "Please select"
i can think of following possibilities:

1. is that possible to setup lookup wizard to auto select the last entry added into table. which means i can have this financial year add as " 2015-2016" and it should have auto selected
   if any one can suggest something?
   thanks
   
   Ricky