Management and Budgetting Flashcards
How is the office of management and budget director elected
Appointed by the president and consented by senate
What does the office of management and budget director do with the budget process?
Initiates the budget process
Why does the office of management and budget director meet with the president?
To discuss priorities
What is main thing that is discussed by the office of management and budget director
Discusses the economic situation and revenue projections
What happens with the budget request
All agencies must submit by fall of that year and political negotiations continue into the winter
Who passed and approves the budget
Congress passes it and approves it
Who prepares the budget
President
The budget is used for what time frame?
Fiscal year ( oct 1st- sept. 30)
Once the budget is created, it is sent to who?
The three congressional committees
What created the house and Senate budget committees
Budget and Impoundment Control Act of 1974
Who authorizes and approves committees
Budget and Impoundment Control Act of 1974
The Act allows what checks and balances detail
House and Senate budget committees prepare and alternative budget for congress
The house and Senate budget committees does what?
Sets revenue and spending levels broken down into 21 budget areas
What are examples of budget areas
Defense, Agriculture, Health
After house and Senate create a budget… what happens?
A budget resolution is agreed in both houses and must be completed and finished
