I know at our company the planning process starts as soon as the current year budget is finalized. Each dept is responsible for keeping a notebook of items that were left out of the prior budget, or areas in wchihc we could save. In March we get the entire mgmt team together to brainstorm a wish list for the new budget, and to discuss opportunities for savings. This is then input into the tentative budget to see how this compares to the our companies target for the school. We adjust until June, and then submit the schools "final" budget. This is never the final budget, so after further adjustments we have our actual budget by July 1.