Well, The timeline of the game is vastly unclear. Design influences (of cars and architecture) point to a possible setting in the 1980s or 1990s, but there are also other objects hinting at a setting in 2006, 2007 or 2008.
■A reference to the year being 1992-1995 as the setting can be seen in one of the various arcade machine minigames
■School sports flags show the school as champions as recently as 1998-1999.
■On their website they say it is fall 2006.
■A poster can be seen in the Jock Clubhouse that dates to 2005, and another to 2007.
■Mr Galloway alludes to surfing "dubious sites" on the internet. Additionally, two modern computers can be found in the basement bedroom of Dragon's Wing Comics.
■In contrast to the above, the School Library has a couple of vintage, 70s-80's-esque monochrome-screen computers.
source -bully.wikia.com