Budget Calendar

Following is a description of the activities that take place throughout the University’s annual budget process:

TimeframeActivity
July 1Start of the University fiscal year
October 1Start of the State fiscal year
OctoberSchools/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)
JanuaryGovernor’s State of the State (including proposed funding for higher education)
February-MarchBudget conferences with schools/colleges
February – MayDiscussions with the Board of Regents (Finance, Audit and Investment Committee and Personnel, Compensation and Governance Committee), EOs, and deans
March – AprilTestimony 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 – SeptemberSenate / House Conference Committee reaches consensus on Higher Education appropriation
Mid-MayPreliminary Budget Allocation Reports distributed to schools/colleges
JuneRecommendation of budget and tuition and fee rates is presented to the Regents
JuneThe Final Budget Allocation Reports based on the budget and tuition and fee rates approved by the Regents are distributed
Late JulyStudent tuition and fee rate schedule for coming academic year is distributed
July – SeptemberGovernor signs Education Appropriation Bills

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