XCPD-682 Federal Budget Process
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In this course participants will develop an understanding of the overall federal financial budget process. Participants will be introduced to the requirements to prepare, justify, and administer a program budget, and oversee procurement, projects, and contracts. Course topics include appropriation types, budget phases, and budget vocabulary. This introductory course is appropriate for federal workers in a variety of roles who are interested in developing their understanding of the budget cycle and how it impacts their work.
Upon completion of this course, successful students will be able to:
- Define and explain basic budget vocabulary and concepts related to the federal budget.
- Use basic budget concepts and techniques to evaluate
- Differentiate between entitlement and discretionary spending.
- Understand the process to construct the federal budget.
- Evaluate the Federal budget to determine government priorities.
The Federal Budget Process
With an ever-increasing eye on key players in the Executive and Legislative Branches, Federal employees must learn to properly appropriate, allocate, and spend billions of Federal dollars annually. Through examination of current events, you will learn the formulation, enactment, and execution phases of the budget process.
- Identify major legislation that impacts the federal budget process
- Track the budget timeline and the three phases of the budget process
- Identify the roles of the major players in the budget process
- Outline how agencies use and track their allocated funds
- Explain how agency budgets are prepared and how they contribute to the President's Budget
- List the types of audits used after the budget has been executed
- Quantify the size and scope of the present budget
- Identify trends in federal spending during the last 50 years
History of the Federal Budget Process
- The Budget Process Functions
- History of the Federal Budget Process
- Efforts to Reduce the Deficit
- Efforts to Increase Accountability
- Financial Accountability and Accounting
- Exercise: What Are the Federal Acts?
Budget of the United States: Facts, Figures, and Trends
- Where the Money Comes From
- Where the Money Goes
- Deficits and Surpluses
- Budgeting and Fiscal Sustainability
Federal Budget Overview
- Budget Concepts and Terms
- How Do Agencies Get Their Funds?
- Budget Authority vs. Outlays
- Key Players in the Federal Budget Process
Budget Formulation Process
- Federal Budget Process
- President's Budget
- Formulation of the President's Budget
- Annual Performance Plan
- Step 1: Budget Policy Development
- Step 2: Preparation and Submission of Agency Budget Estimates
- Step 3: OMB Review and Presidential Decisions
- Exercise: Northern Development Consortium
Congressional Action Process
- Congressional Action on the President's Budget
- Concurrent Budget Resolution
- Authorizing Legislation
- Reconciliation Bills
- Exercise: Congressional Action
- Key Execution Activities
- Appropriation Warrant (FMS Form 6200)
- Appropriation Life Cycle
- Availability of Budgetary Resources
- Types of Appropriations and Classifications
- Internal Control
- Continuing Resolution
- Allotment by Agency Headquarters and Suballotment
- Commitments and Obligations
- Developing the Operating Plan
- Monitoring an Operating Plan
- Revising an Operating Plan
- Budget Execution Flexibility
- Impoundment Actions
- Exercise: Budget Execution
- Why Audit?
- Preparing for an Audit
- Financial Audits
- Performance Audits
- Attestation Engagements
- After the Audit
Who should attend
This course is designed for government and private sector employees new to budgeting responsibilities or those not directly involved in federal budgeting who want an overview of the budget process.