New York Codes, Rules and Regulations
Title 8 - EDUCATION DEPARTMENT
Chapter V - State University of New York
Subchapter D - Code of Standards and Procedures for the Administration and Operation of Community Colleges under the Program of State University of New York
Part 602 - College Finance and Business Operations (college Operating Fund)
Section 602.15 - Operating aid payment schedule

(a) State operating aid shall be paid quarterly as follows:

First quarter: September 1st or after college board of trustees, local or regional sponsor, and State University Board of Trustees approve the college operating budget.

Second quarter: December 1st or after the review and approval of the college's prior years annual financial report and FOP annual report.

Third quarter: March 1st or after receipt and review of the college's prior year certified financial statement.

Fourth quarter: June 1st.