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Budget Planning Process Overview

Budget Planning Timeline

As well as a budget cycle that spans 3 fiscal years, there is also overlap with other academic calendars that influence budgeting, including tuition projections and enrollment and the state legislative cycle and subsequent appropriation.

 UIC Budget CycleState Budget CycleEnrollment, Financial Aid & Student Data CycleBudget & Finance Management CycleSalary Planning Cycle
JulyBudget and salary guidelines issuedBudget discussions with UI SystemFiscal year begins (7/1)
Post accruals
Accounting P14 ends
Salary Planner closes
AugustDetailed budget preparation - CentralFall semester classes beginQ4 Reports
State lapse ends
Shorelight invoice - summer
Prepare college financials
New salary rates effective 8/16
Notices of non reappointment issued
SeptemberBoT approves budget
Tuition Guidance and Proposal request sent to Colleges
Course Fee deadline for spring
Historical reports submitted to IBHEFall 10th data census data
Entering UG report
Grad and Retention rates
Budget load in Banner
Carryforward funds posted
Deficit letters sent
Board approves academic appointments and salaries
OctoberBudget planning letter issued and meeting documents/ templates providedIBHE collects requests from all public universities and community collegesDevelop enrollment targets
Student Data Book
Deficit reduction plans due
NovemberTuition proposal due to system
Phase 1 budget meetings begin
UI System submits Operating and Capital budget request to the state of IL (CY+2) for BoT approvalFCIAA starts
DecemberPhase 1 budget meetings continueIBHE recommendations to Governor (Office of Management and Budget)Fall tuition reports
FCIAA
Shorelight invoice - fall
JanuaryPhase 1 budget meetings continue
BoT approved tuition and fees
Illinois General Assembly convenes 2nd Wed in JanuaryAdmissions deadline regular admit (1/15)Q2 financial reports
FCIAA
Escrow funds returned
FebruaryPhase 2 budget meetings beginGovernor's budget proposal announced in State of the State Address
Draft appropriations bill
Spring 10-day census
FAFSA deadline (2/15)
Financial Aid Packaging (EOM)
Tuition projections (CY +1)
MarchPhase 2 budget meetings continueSenate and House Appropriations hearings
Operating and Capital budget request development (CY+2)
HLC institutional upate due
AprilPhase 2 budget meetings continueSenate and House Appropriations hearings
Operating and Capital budget request development (CY+2)
Admissions deadline fall transfer admit (4/1)
Enrollment projections
Q3 financial reports
Spring tuition reports
MayBudget planning - Central
Tuition projections
F&A projections
Deadline for legislature to approve budget with simple majority (5/31)Shorelight invoice - spring
JuneBudget letter
BFA issues unit budget allocations
Appropriation bill enactedIntent to enroll deadline (6/1)Fiscal year ends (6/30)Salary Planner opens