Identify and describe the step of the budget process.
What will be an ideal response?
The spring review is the first step in the budget process. OMB develops estimates of the total size of the federal budget for the fiscal year being developed. Via OMB, letters are sent from the president to federal agencies stating presidential budget strategy and requesting agency budget preparation. Agencies prepare budget strategy and submit requests to OMB. OMB then passes the budgets onto its budget reviewers for an examination of agency requests. OMB then holds budget hearings at which agencies justify budget requests. Results of hearings are compiled and given to the director of OMB. Final revisions are made and then OMB submits the budget to the president for final review. Often final appeals are made to the president at this point. Once approved by the president, the budget is prepared for delivery to Congress. Budgets are submitted to Congress within 15 days after it convenes in January. Congress send the budget to the appropriations committee in each house. Subcommittees complete most of the work of budget review and preparation. Appropriations bills are developed, and agencies are called to congressional hearings to testify on budget request. After the hearings, committees will “mark up” the bills. Once complete, bills are submitted for committee and then full chamber votes. Once the bills are passed in each house, a reconciliation bill is passed to resolve any difference in the House and Senate bills. Both houses vote on the reconciliation bill. Congress tries to complete this work by September 15 in order for the budget to be ready on October 1. Reconciliation bills must be passes by September 25. Once passed by Congress, the budget is submitted to the president for signing. After a budget bill is passed by Congress and signed by the president, the Department of the Treasury (countersigned by the GAO) issues an appropriations warrants to agencies. The agencies then submit a plan for apportionment of the funds to OMB. Typically, agencies receive appropriations on a quarterly basis. Once money is spent the GAO conduct post-expenditure to ensure that money was spent legally and properly.
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