The annual budget planning cycle commences during the Fall when academic units are asked to submit tuition rate proposals for undergraduate/graduate/professional student base tuition and/or tuition differentials. These proposals are reviewed and approved at the UI Board of Trustees meeting in January. The UIC Budget Office holds annual budget meetings for campus colleges during March/April to review overall financial health by evaluating past performance and reviewing projections for the current and next two fiscal years. These meetings often entail a discussion related to enrollment trends and implementation of newly approved tuition rates into the projections to assess the impact to unit financials. Budget and Salary Guidelines and Budget Allocation Sheets are released annually at the end of the current fiscal year to communicate State budget amounts and provide guidance to campus units when entering budgets in the Budget Development application for the next fiscal year. The data from Budget Development is then utilized to prepare the annual operating budget for the University of Illinois known as the Budget Summary for Operations for review and approval at the UI Board of Trustees meeting in September.
