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The phrase "allocated this year" is correct and usable in written English.
It can be used when referring to resources, funds, or tasks that have been designated or assigned for use within the current calendar year.
Example: "The budget for the new project has been allocated this year to ensure timely completion."
Alternatives: "designated for this year" or "assigned this year".
Exact(3)
The Department of State administers grants — $25 million is allocated this year — to find tax savings and efficiencies through a variety of methods, including shared programs, cooperative agreements, mergers and consolidations.
Some counties have complained that they are not receiving enough of the $2.5 million in state money allocated this year above normal budgets for insect control and disease surveillance.
These loans are risky: Career Education and Corinthian recently told investors they had set aside roughly half the money allocated this year for private lending to cover anticipated bad debts.
Similar(57)
Within the framework of this program, each school has been allocated 2,000 dollars for their initiatives to promote peace.
No new money has been allocated since 2014.
Money was allocated earlier this month to study the train station area.
If Britain participated, it would be allocated 2,309 of the 20,000.
The Democratic Party allocated 4,763 delegate slots for its 2016 national convention.
United have been allocated 4,610 standard tickets for the match in Barcelona.
"Transient renting" for less than a month requires a special license, and all the available licenses have been allocated since 1996.
The first round of £450m was allocated earlier this year and nearly £1bn will be granted to businesses in the second round.
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Since I tried Ludwig back in 2017, I have been constantly using it in both editing and translation. Ever since, I suggest it to my translators at ProSciEditing.

Justyna Jupowicz-Kozak
CEO of Professional Science Editing for Scientists @ prosciediting.com