Update! I just found the word appropriation, which seems to capture exactly what I'm after. However, I'm confused that no-one suggested this word when I first asked the question, so perhaps I've completely misunderstood the use of this word?
Each year each department at a university is allocated a sum of money for educating students, a sum of money for research, a sum of money for professional development and so on, right? But what do you call such sums of money? Do you call them allocations? Or grants? Or... what? And also, what do you call the specific sum allocated for educating students – education allocation?? For instance, if I want to say in a more concise way that we need a larger sum of money to fund education, do I say that we need a larger education allocation? (I'm pretty sure I can't say this – so what can I say?)
And just to be clear: I'm not talking about external funding here, but about the money that the university dishes out each year to its various departments.