From the Congressional Glossary – Including Legislative and Budget Terms “Zero Based Budgeting is a method of budgeting in which all expenses must be justified for each new period. Zero-based budgeting starts from a ‘zero base,’ and every function within an organization is analyzed for its needs and costs. Budgets are then built around what … Read more
From the Congressional Glossary – Including Legislative and Budget Terms Backdoor Authority / Backdoor Spending A colloquial phrase for budget authority provided in laws other than appropriations acts, including contract authority and borrowing authority, as well as entitlement authority and the outlays that result from that budget authority. Fiscal Law #1 – Overview … Read more
From the Congressional Glossary – Including Legislative and Budget Terms Obligation photo credit: smudie A legally binding agreement that will result in outlays, immediately or in the future. A promise to pay. The obligation, the promise to pay, is the initial action in the Federal spending process. Appropriations laws establish whether funds are available to … Read more
From the Congressional Glossary – Including Legislative and Budget Terms Limitation photo credit: craigCloutier Language in legislation or in legislative documents that restricts the availability of an appropriation by limiting its use or amount. A restriction on the amount, purpose, or period of availability of budget authority. While limitations are most often established through appropriations … Read more
From the Congressional Glossary – Including Legislative and Budget Terms Means of Financing photo credit: photosteve101 Ways in which a budget deficit is financed or a budget surplus is used. A budget deficit may be financed by the Department of the Treasury (Treasury) (or agency) borrowing, by reducing Treasury cash balances, by the sale of … Read more
From the Congressional Glossary – Including Legislative and Budget Terms Bases of Budgeting photo credit: Scott Ableman Methods for calculating budget figures. Not all methods are mutually exclusive. For example, the federal budget includes both net and gross figures and reports both obligations and cash or cash equivalent spending. As a general rule, budget receipts … Read more
From the Congressional Glossary – Including Legislative and Budget Terms Balanced Budget and Emergency Deficit Control Act of 1985, aka Gramm-Rudman-Hollings (GRH) President Reagan’s Remarks to Congressional Supporters for a Balanced Budget on December 18, 1985 Also known as the Deficit Control Act, originally known as Gramm-Rudman-Hollings. Among other changes to the budget … Read more
From the Congressional Glossary – Including Legislative and Budget Terms Budget Authority photo credit: Carly & Art The key terms of federal spending are budget authority, obligations, outlays, and spendout rate. Congress and the president enact budget authority in law. Budget authority allows federal agencies to incur obligations, such as entering into contracts, employing personnel, … Read more
From the Congressional Glossary – Including Legislative and Budget Terms Entitlement Authority photo credit: anarchosyn A provision of law that requires payments to any person, business, or unit of government that meets the eligibility requirements established by such law. Entitlements constitute a binding obligation on the part of the federal government, and eligible recipients have … Read more
From the Congressional Glossary – Including Legislative and Budget Terms Union Calendar Bills that directly or indirectly appropriate money or raise revenue are placed on this House calendar according to the date they are reported from committee. The Constitution specifies that all bills for raising revenue originate in the House (Article I, Section 7). House … Read more