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the act of ; apportionment.
the state of being .
the share or portion .
Accounting. a system of dividing expenses and incomes among the various branches, departments, etc., of a business.
Contemporary Examples

In budgetary terms, it was a pittance: 0.1 percent of the CDC’s $2.2 billion allocation.
The Reason for Our Woeful Lack of Gun Statistics David Frum December 17, 2012

Among other faults, it merely shifts the allocation for visas instead of increasing the total number.
Waiting on a ‘Grand Bargain’ Superman Justin Green December 12, 2012

But the country is poor, and the allocation is only $100,000.
How a GOP Win Could Spell the End of Reproductive Health for Global Women Michelle Goldberg February 2, 2012

The Coast Guard saw its allocation plummet from $5.6 million in 1993 to $500,000 annually since 2007.
New Outrage in the Gulf Rick Outzen November 29, 2010

Historical Examples

allocation of late Pliocene specimens of Geomys quinni to other species will restrict quinni to the early Pleistocene.
Evolution and Classification of the Pocket Gophers of the Subfamily Geomyinae Robert J. Russell

As respects this allocation, how would I modify that instrument?
‘Tis Sixty Years Since Charles Francis Adams

Fourth, to continue the priorities and allocation authority in the field of transportation.
State of the Union Addresses of Harry S. Truman Harry S. Truman

Recollect, all the management—that is, the allocation—will be entrusted to you.
Blackwood’s Edinburgh Magazine, Volume 58, Number 360, October 1845 Various

The allocation of supply for the transferred subjects will be decided by the ministers.
The Political Future of India Lajpat Rai

Recollect, all the management—that is, the allocation—will be intrusted to you.
Tales from “Blackwood” Various

noun
the act of allocating or the state of being allocated
a part that is allocated; share
(accounting, Brit) a system of dividing overhead expenses between the various departments of a business
(social welfare) (in a Social Services Department) the process of assigning referrals to individual workers, thus changing their status to cases
n.

mid-15c., from Middle French allocacion, from Medieval Latin allocationem (nominative allocatio), noun of action from past participle stem of allocare (see allocate).