2.verbTo distribute according to a plan, generally followed by the adposition to.
"The bulk of K–12 education funds are allocated to school districts that in turn pay for the cost of operating schools."
3.verbTo reserve a portion of memory for use by a computer program.
4.adjectiveHaving been granted an allocation; having received (something) as part of a plan or scheduled disbursement; having been assigned (something) that was set aside for a particular purpose.