Budget

Budget Calendar

 Timeframe Activity
  July 1 Start of the University fiscal year
  October 1 Start of the State fiscal year
  October Schools/Colleges receive financial planning parameters and enrollment projection request
  January – February
  (rolling dates)
Schools/Colleges submit budget plan documents (Budget narrative and five-year financial projection)
  February – March Budget conferences with schools/colleges
  January Governor’s State of the State (including proposed funding for higher education)
  February – May Discussions with the Board of Regents (Finance, Audit and Investment Committee and Personnel, Compensation and Governance Committee), EOs, and deans
  March – April Testimony to the Michigan Senate / Michigan House Higher Education Appropriation Committees; Bills approved by committees are sent to the Full House and Senate for approval
  May – September Senate / House Conference Committee reaches consensus on Higher Education appropriation
  Mid-May Preliminary Budget Allocation Reports distributed to schools/colleges
  June Recommendation of budget and tuition and fee rates is presented to the Regents
  June The Final Budget Allocation Reports based on the budget and tuition and fee rates approved by the Regents are distributed
  Late July Student tuition and fee rate schedule for coming academic year is distributed
  July – September Governor signs Education Appropriation Bills