Commonwealth Biennial Budget

Budget Process of the Commonwealth

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	Jan-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