| December |
| Institutions submit new fee requests and internal revenue projections to the Board of Regents. |
| January |
| The governor presents the state budget to the general assembly. Institutions present budget plans to the BOR. BOR staff conducts budget discussions on budget plans submitted from Institutions. |
| February - March |
| General Assembly passes budget for the next Fiscal Year. Allocation strategy is developed by the BOR based on the general assembly's reaction to redirection, new formula etc. |
| April |
| Allocation recommendations are developed and approved at a Board Meeting. State allocations are sent to all institutions with Budget Guidelines and Tuition and Fees. |
| May |
| Institutions submit annual operating budget to the BOR |
| June |
| BOR approves new fiscal year budget submitted. |
| July |
| Fiscal Year budget implemented. |
