Budget Timeline
The federal budget is formulated, justified and then enacted over an extended period. Before the fiscal year begins on October 1st, Federal agencies need to develop and present their budget requests, a process that typically starts about two years before the start of the fiscal year (or longer for certain types of requests, like major acquisitions for Department of Defense).
In addition, to presenting estimates for the budget fiscal year, estimates for at least three years beyond the budget fiscal year (BY+1, BY+2 and BY+3) are also presented (and again for Defense, two extra years, BY+4 and BY+5). The dates and requirements for the budget development, presentation, and enactment are established by law and regulations. Unless previously approved by law, all funding needs to be approved by Congress and signed into law by the President. The information below provides a general description of the budget timeline and key actions.
In addition, to presenting estimates for the budget fiscal year, estimates for at least three years beyond the budget fiscal year (BY+1, BY+2 and BY+3) are also presented (and again for Defense, two extra years, BY+4 and BY+5). The dates and requirements for the budget development, presentation, and enactment are established by law and regulations. Unless previously approved by law, all funding needs to be approved by Congress and signed into law by the President. The information below provides a general description of the budget timeline and key actions.