Transcription of Appendix II THE BUDGET PROCESS - …
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Appendix II THE BUDGET PROCESS - …
Appendix II. THE BUDGET PROCESS . This Appendix provides a summarized description of the BUDGET PROCESS at the national (federal) level. The overall PROCESS has three fundamental phases: formulation; subsequent actions by Congress and the President to provide a legally executable BUDGET ; and actual execution. The entire cycle is a continuum. While the last approved BUDGET is being executed, the next BUDGET is undergoing review and approval in Congress. When passed by Congress and signed by the President, it becomes the BUDGET of the United States for the following fiscal year. Concurrently, formulation of the next BUDGET for submission to Congress is taking place within the departments and agencies.
This appendix provides a summarized description of the budget process at the national (federal) level. The overall process has three fundamental phases: formulation; subsequent actions by Congress and
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