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Federal Budget Making
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Federal Budget Making

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  • 1. The Main Stages of the Federal Budget - making Process in the US
  • 2. Federal budget includes:
    • a record of actual receipts and spending for the fiscal year that was just completed (in the FY 2008 President's Budget, this would be FY 2006);
    • an estimate of current-year receipts and spending (FY 2007);
    • estimates of receipts and spending for the upcoming fiscal year and 9 years beyond (FYs 2008 and 2009-2017).
  • 3. US Federal Budget-making
    • (1) budget formulation
    • (2) budget presentation and the congressional process
    • (3) budget execution
  • 4. 1. Budget formulation. agencies make their plans Office of Management and Budget examiners hold hearings and make recommendations to the Director of OMB preparation of President's budget
  • 5. 2. Budget presentation and the congressional process
    • Budget presentation:
    • - a press conference
    • - transmitting briefing document to the press and the public
    • С ongressional appropriations hearings
    • Budget resolution :
    • - discretionary spending
    • - mandatory spending
  • 6. 3. Budget execution
    • The government monitors the budget through:
    • agency program managers and budget officials;
    • the Office of Management and Budget;
    • congressional committees;
    • the General Accounting Office.
  • 7. Thank you!

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