Budget Calendar

2007 CALENDAR YEAR (preparation of President's '08 Budget Request)

Spring
OMB issues policy and planning guidance to departments and agencies for the budget beginning October 1 of the following year.
Spring/
Summer
Departments and agencies begin development of budget requests.
July
OMB issues annual update to Circular A-11, providing detailed instructions for departments and agencies on submission of budget data and material for budget requests.
Fall
Departments and agencies submit initial budget requests to OMB.
Oct / Nov
OMB conducts “fall review” analyzing budget requests; OMB Director makes policy decisions.
Late Nov
OMB Director briefs the President on the draft budget and receives the President's guidance on key policy issues. OMB informs departments and agencies of decisions, commonly referred to as “OMB Passback.”
Dec
Departments and agencies may appeal to the OMB Director, and ultimately the President, to reverse or modify passback decisions. Departments and agencies submit computer data and materials to OMB for preparation of budget documents.

2008 CALENDAR YEAR (FY 2009 BEGINS OCTOBER 1)

See our "Budget Process" feature for a description of the Congressional Budget Resolution, Budget Reconciliation, and Committee Allocations

January 23
January 28
State of the Union Address.

February 4
President submits his FY 2009 Budget request

Late Feb/
Early March
House and Senate committees submit "views & estimates" to Budget Committees (see Budget Docs).
Mid-March
House and Senate Budget Committees mark-up FY 2009 Budget Resolutions

Late March/
Early April

Senate and House Floor action on their committee-reported Budget Resolutions; followed by House-Senate Conference

Mid-April


Adoption of Conference Report on the FY 2009 Budget Resolution
May 15
Annual appropriations bills may be considered in the House (in the absence of a Budget Resolution).
June 10
Deadline for House Appropriations to report last of the 12 regular appropriations bills.
June 30
Deadline for the House to complete action on annual appropriations bills.
Mid-July
President transmits Mid-Session Review, which updates the February budget Submission.

In addition, if the Budget Resolution includes Reconciliation Instructions, the House and Senate would typically bring the Reconciliation bills to the House and Senate Floors in July, followed by conference action. (See Budget Process summary for explanation of Budget Reconciliation.)
August
CBO submitts Budget and Economic Outlook Update

Oct. 1

 FY 2009 begins

DURING THE FISCAL YEAR

 

Departments and agencies obligate available budget authority to operate Programs, projects, and activities and, if necessary, ask OMB to request supplemental appropriations from Congress.

The President may propose to Congress “deferral” or “rescission” of specific Budget authority deemed to be unnecessary.

The Congress enforces the Budget Resolution through available parliamentary points of order that may be raised against legislation that would breach spending ceilings or revenue floors, or committee allocations.


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