The change of the fiscal year (or calendar year for Special Olympics) marks the time that the annual reviews should be completed and submitted to HR. It is also the best time for setting goals and providing clearly defined expectations for the coming year. Here is a suggestion of how most of both processes could be accomplished in one meeting.
When you meet for your discussion over your end-of-the-year review, make notes along the way about anything that could carry over into next year's goals and expectations (projects that still need to be completed, areas that need improvement, how additional support or resources will be provided, etc.). Complete the current year review, clarifying if there are any necessary edits as a result of the discussion, and how those will be made before submitting it to HR. Then, at the end of this conversation, talk about what can be entered as goals and expectations for the upcoming year (2016-17 for those on the fiscal year calendar, 2017 for Special Olympics). This could include such things as carry-over projects from last year, major projects that are coming up, specific skills or abilities for development, clear and specific objectives for any areas under "Style" that needs improvement, and what needs to change by way of resources or support from the supervisor or others. Clarify these and decide who will start next year's review and enter this information. Please note that both the end-of-the year review and next year's reviews are able to be opened and edited during July and August (January and February for Special Olympics). To help avoid confusion, it is generally best to finish the current end-of-the-year review and submit it to HR first, then open next year's review and set goals and expectations for the upcoming year.
You can go ahead and start the review process with limited information, understanding that this is a living document that can be changed at anytime. It is understood that some departments may be waiting for some information regarding strategic initiatives for this coming year, but you can start the process with what you know now, thereby giving some direction on things that could be worked on immediately. Other goals may be added and others removed as priorities shift or future information and situations dictate.