What office prepares the federal budget, and what process does it follow?
Answer (2)
Federal agencies submit their budget requests to the Executive Office of Management and Budget (OMB). The OMB prepares the budget for the President. In late fall, the OMB send revisions and notes back to the agencies, and they have until the end of the year to resubmit with changes. The OMB creates the budget based on those revisions, then submits it to the President for review in the beginning of the following year, at which time the President submits it to Congress. The process begins a year before the fiscal year for which the budget is being considered.
The federal budget is prepared by the Office of Management and Budget (OMB) through a multi-step process that starts with agency budget requests, followed by reviews and revisions, and culminates in a proposal submitted to Congress for approval. Congress then evaluates the budget and enacts appropriations based on it. This process occurs annually and begins well before the fiscal year it covers.
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