Budget Process of the Commonwealth
Action | Month | Cycle |
---|---|---|
University submits enrollment projections for SCHEV | October | Even Year |
SCHEV approves enrollment projections | December | Even Year |
University conducts issues assessment and presents reports to Governor's cabinet and DPB team | June | Odd Year |
University receives target and budget planning guidance for biennium from Governor | July | Odd Year |
University submits final strategic plan and biennial budget request to Governor | September | Odd Year |
Governor presents Executive Budget to General Assembly | December | Odd Year |
General Assembly reviews and modifies budget | January - March | Even Year |
General Assembly approves budget | March | Even Year |
Governor signs budget | April | Even Year |
Veto override session held, if necessary | April | Even Year |
Agencies submit summaries of all projects in 6-year plan, maintenance reserve requests and summary of proposed capital leases to DPB | May | Odd Year |
Agencies submit capital budget requests to DPB | June | Odd Year |
DPB reviews projects and notifies agencies | August | Odd Year |
Agencies submit financial feasibility studies for revenue bond projects to Department of the Treasury, DPB and SCHEV | September | Odd Year |
SCHEV delivers its capital budget recommendations to Governor | November | Odd Year |
Department of the Treasury issues to agencies financial feasibility statements for revenue bond projects | December | Odd Year |
Governor submits biennial budget to the General Assembly | December | Odd Year |