Federal Budget Making

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Federal Budget Making

  1. 1. The Main Stages of the Federal Budget - making Process in the US
  2. 2. Federal budget includes: <ul><li>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); </li></ul><ul><li>an estimate of current-year receipts and spending (FY 2007); </li></ul><ul><li>estimates of receipts and spending for the upcoming fiscal year and 9 years beyond (FYs 2008 and 2009-2017). </li></ul>
  3. 3. US Federal Budget-making <ul><li>(1) budget formulation </li></ul><ul><li>(2) budget presentation and the congressional process </li></ul><ul><li>(3) budget execution </li></ul>
  4. 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. 5. 2. Budget presentation and the congressional process <ul><li>Budget presentation: </li></ul><ul><li>- a press conference </li></ul><ul><li>- transmitting briefing document to the press and the public </li></ul><ul><li>С ongressional appropriations hearings </li></ul><ul><li>Budget resolution : </li></ul><ul><li>- discretionary spending </li></ul><ul><li>- mandatory spending </li></ul>
  6. 6. 3. Budget execution <ul><li>The government monitors the budget through: </li></ul><ul><li>agency program managers and budget officials; </li></ul><ul><li>the Office of Management and Budget; </li></ul><ul><li>congressional committees; </li></ul><ul><li>the General Accounting Office. </li></ul>
  7. 7. Thank you!

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