The board has a meeting scheduled in Dunedin but chairman Ross Laidlaw said the jersey topic was not set down to be discussed.
It may be brought up by a board member or by management, but he had no comment on the jersey.
The Highlanders introduced a new green jersey to replace the old playing colours of blue, gold and maroon used by the team since its inception in 1996.
The team wore the new jersey in its last game at Carisbrook against the Force earlier this month.
The new jersey sparked outrage from many, with some saying it was a colour that had no link to the region and was an insult to previous Highlanders teams. Otago Rugby Football Union chairman Wayne Graham was particularly vocal in his opposition to the jersey.
The strip was not used in the last two away games of the season, but is set to be the new playing strip for next season. A new away strip had yet to be decided upon.
There had been a suggestion the green jersey would be ditched, with a decision to do that ratified by the board as early as tomorrow night.
But Laidlaw said that was news to him. He declined further comment on the jersey.
Highlanders players and management were going through individual reviews yesterday and today and they were unlikely to be ready to be presented to the board at the meeting.
Laidlaw said looking back over the season, it had to be rated as a success.
"If you'd asked yourself at the start of the season whether you would take eighth, then of course you would," he said.
"Not only have you got to be happy about this season but just as good is how we are looking towards next season.
"We have re-signed 22 players and have all the people we want to at this stage. No other franchise is in the same position as us with regards to getting those players signed."
Laidlaw said the side needed a couple more x-factor players who could win games and open up defences.
"There are one or two out there that we are looking for and want to get. But the problem is there are not many of them around and everyone else is after them.
"But I know Jamie [Highlanders coach Jamie Joseph] is moving heaven and earth to try and get them down here."
The financial result for the year is still unknown as the Highlanders financial year does not end until the end of August.
The franchise had recorded a heavy financial loss in the past couple of years but hoped improved gates and more games would improve the balance sheet.
