Transcription of BUDGET CONCEPTS AND BUDGET PROCESS
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53 BUDGET CONCEPTS AND BUDGET PROCESS556. BUDGET CONCEPTSThe BUDGET system of the United States Government provides the means for the President and the Congress to decide how much money to spend, what to spend it on, and how to raise the money they have decided to spend. Through the BUDGET system, they determine the allocation of resources among the agencies of the Federal Government and between the Federal Government and the private sector. The BUDGET system focuses primar-ily on dollars, but it also allocates other resources, such as Federal employment.
on the budget year—the next fiscal year for which the Congress needs to make appropriations, in this case 2022. (Fiscal year 2022 will begin on October 1, 2021, and end
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