who has final authority over the federal budget
Office of Management and Budget
title: United States federal budget text: have been used to fund most of the costs of war and occupation in Iraq and Afghanistan so far. Budget resolutions and appropriations bills, which reflect spending priorities of Congress, will usually differ from funding levels in the president's budget. The president, however, retains substantial influence over the budget process through veto power and through congressional allies when the president's party has a majority in Congress. The amount of budget authority and outlays for a fiscal year usually differ because the government can incur obligations for future years. This means that budget authority from a previous fiscal year can, in title: United States federal budget text: of accrual accounting, which recognizes obligations and revenues when they are incurred. The costs of some federal credit and loan programs, according to provisions of the Federal Credit Reform Act of 1990, are calculated on a net present value basis. Federal agencies cannot spend money unless funds are authorized and appropriated. Typically, separate Congressional committees have jurisdiction over authorization and appropriations. The House and Senate Appropriations Committees currently have 12 subcommittees, which are responsible for drafting the 12 regular appropriations bills that determine amounts of discretionary spending for various federal programs. Appropriations bills must pass both the House and Senate title: United States federal budget text: President's proposal to Congress recommending funding levels for the next fiscal year, beginning October 1 and ending on September 30 of the year following. The fiscal year refers to the year in which it ends. However, Congress is the body required by law to pass appropriations annually and to submit funding bills passed by both houses to the President for signature. Congressional decisions are governed by rules and legislation regarding the federal budget process. Budget committees set spending limits for the House and Senate committees and for Appropriations subcommittees, which then approve individual appropriations bills to allocate funding to various title: United States federal budget text: multi-year appropriations, in which their budget authority is specified for several coming fiscal years. In the congressional budgeting process, an "authorization" (technically the "authorization act") provides the legal authority for the executive branch to act, establishes an account which can receive money to implement the action, and sets a limit on how much money may be expended. However, this account remains empty until Congress approves an "appropriation", which requires the U.S. Treasury to provide funds (up to the limit provided for in the authorization). Congress is not required to appropriate as much money as is authorized. Congress may both authorize title: 2017 United States federal budget text: pass a budget resolution, representatives and senators come up with a conference report negotiating between both the House and Senate versions. Budget resolutions do not go to the president for a signature or veto. This budget does not directly enact the actual spending of the federal government, but it sets the amounts that each congressional committee is allowed to spend on the programs, agencies and departments for which it is responsible. Actual spending is driven by the final appropriations bills. The Budget Control Act of 2011 (BCA) had established spending caps on defense and non-defense spending, which were first applied