President, with assistance from Office of Management and Budget
(OMB) establishes general budget and fiscal policy guidelines.
(March)
Based on President's decisions, OMB gives federal agencies
instructions for budget preparation, along with budget ceilings and economic
assumptions. (April)
Compilation and Submission of Agency
Estimates
ETA submits budget request to Department of Labor (DOL) Budget
Office, based on OMB instructions.
DOL reviews/makes determinations on ETA/other DOL agencies'
budget requests.
DOL submits initial budget request to OMB. (1st week in
September)
Office of Management and Budget Review and Presidential Decisions
OMB prepares major
issues/options for consideration/determination by President, based
on agency requests.
OMB reviews agency budgets, holds hearings with agencies, gives
"passback" decisions to agencies, and makes decisions on agency appeals.
Federal agencies prepare final budget materials for President's
Budget and Congressional committee hearings.
(December-January)
Submittal to Congress
President transmits full budget to Congress . (15 days after
Congress convenes in January prior to upcoming Fiscal Year)
Congressional budget committees report first concurrent budget
resolution. (April 15)
Congress completes action on first concurrent budget resolution.
(May 15)
Congress adopts second concurrent budget resolution, which sets
spending and revenue and other budget ceilings for the upcoming Fiscal Year.
(September 15)
Action on Individual Bills
Congressional appropriations subcommittees begin to review budget
justifications and hold hearings with each federal agency and draft appropriation
bills and reports. (beginning in March)
President provides Congress with mid-session update of budget
estimates. (July 15)
Enactment of Appropriations
Congress completes action on appropriations/spending bills.
(after Labor Day)
Appropriation bills are sent to the President for approval or
veto.
If action on bills is not completed by September 30 or
Congress fails to override a Presidential veto of appropriation bills, Congress
enacts continuing resolution.
Reconciliation
Congress completes action on budget reconciliation bill so that
budget totals for enacted legislation conforms with budget targets in the
second concurrent budget resolution.
On approval of an appropriation bill, an appropriation warrant
is drawn by the Department of Treasury and forwarded to the appropriate federal
agencies.
ETA prepares a request to OMB for apportionment. (By
August 21 or 10 days after approval of the appropriation bill, whichever
is later)
OMB makes the apportionment. (By September 10 or 30
days after the approval of the apportionment, whichever is later)
Control over Funds
ETA allots apportioned funds to various
programs/activities.
ETA obligates money, receives and uses goods and services.
ETA makes periodic reports to OMB on the status of funds and
use of funds in relation to program plans.
Expenditure of Funds
ETA prepares and certifies vouchers and invoices for
payment.
Treasury issues checks and reports on financial
transactions.
ETA reviews and evaluates compliance and performance accomplishment
and effectiveness of policies, plans and operations.
OMB reviews agency operations and evaluates programs and
performance. Conducts or guides agencies in organization and management studies.
Assists President in improving management and organization of the Executive
Branch.
The General Accounting Office (GAO) performs independent audits
of agency financial records, transactions, and financial management, generally.
"Settles" accounts of certifying and disbursing officers. Makes
reports to Congress.
