1942: Budget Of The United States

The Budget and Accounting Act of 1921 provided a national budget system and a Bureau of the Budget to assist the President in the formulation and execution of the Budget of the United States Government. The Act directs the President to submit to Congress on the first day of each regular session a budget setting forth the Government expenditures and receipts for the fiscal year just completed, estimated expenditures and receipts for the current and ensuing fiscal years, and balanced statements showing the condition of the Treasury at the end of each of these periods. Information regarding the indebtedness and financial condition of the Government and recommendations for new taxes and loans are also included in the Budget Document.

Since continuous follow-through on the work programs and accomplishments of executive agencies is an integral part of the execution of the Budget, the Bureau has taken initial steps to develop satisfactory methods of reporting work programs, particularly with reference to the war program, so that the President may be kept currently informed as to the work proposed, work initiated, and work completed in all Federal agencies.

To improve the financial operations of the Federal Government, the President issued an Executive Order on Aug. 13, 1940, designed to provide better financial reporting of all Federal operations. This order was subsequently amended to provide a procedure which would insure that there would be no conflict with the function of the Comptroller General to prescribe accounting systems under Section 309 of the Budget and Accounting Act. On the basis of this Executive Order, the Director of the Bureau of the Budget and the Secretary of the Treasury issued a detailed Regulation on June 28, 1941, and again, in revised and improved form, on July 1, 1942. These Regulations formulated various definitions to clarify technical terminology. They also established uniform procedures and standard forms to be used by all agencies in requesting apportionments or the revision of apportionments of their appropriations, and in rendering monthly reports on the status of their appropriations. The new system is now in full operation.

On June 30, 1942, there was also issued a Regulation to be followed by Government corporations and enterprises in preparing and submitting annual reports of their financial condition and operations. The purpose of the Regulation is to establish, so far as practicable, a uniform system of reporting for the Government Corporations and enterprises. Study is now being made for the purpose of supplementing this Regulation to cover the subject of current financial reports.

The Budget of the United States is thus the expression of the program of work which the Administration proposes to carry out in a given fiscal year and the central instrument for financial control over the progress of that program. The Bureau of the Budget, in rendering staff assistance to the President in both the formulation and execution of the Budget, is engaged in a never-ending process of guiding expenditure under the current fiscal program as enacted into law, and in developing plans for work programs and expenditures for the following year.

1941: Budget Of The United States

Recognizing that a continuous follow-through on the work programs and accomplishments of executive agencies is an integral part of the execution of the Budget, the Bureau of the Budget, during the past year, has taken initial steps to develop satisfactory methods of reporting work programs, particularly with reference to the vital national defense program, so that the President may be kept currently informed as to the work proposed, work initiated, and work completed in all Federal agencies.

In order to improve the financial operations of the Federal Government, the President issued an Executive Order on Aug. 13, 1940, designed to provide better financial reporting of all Federal operations. On the basis of this Executive Order, the Director of the Bureau of the Budget and the Secretary of the Treasury issued a detailed Regulation on June 28, 1941. The Regulation formulated various definitions to clarify technical terminology. It also established required procedures for all agencies in using newly prescribed forms to request apportionments or the revision of apportionments, and in rendering monthly summary reports on the status of appropriations. The new system is now in full operation.

The Budget of the United States is thus the expression of the program of work which the Administration proposes to carry out in a given fiscal year and the central instrument for financial control over the progress of that program. The Bureau of the Budget, in its capacity of staff assistance to the President in formulating and executing the Budget, is engaged in a never-ending process of carrying out the program for the current year and developing plans for work programs and expenditures for the next year. See also PUBLIC FINANCE; TAXATION.

1940: Budget Of The United States

Recognizing that a continuous follow-through on the work programs and accomplishments of executive agencies is an integral part of the execution of the Budget, the Bureau of the Budget, during the past year, has taken initial steps to develop satisfactory methods of reporting work programs, particularly with reference to the vital national defense program, so that the President may be kept currently informed as to the work proposed, work initiated, and work completed in all Federal agencies.

In order to improve the financial operations of the Federal Government, the President issued an Executive Order on Aug. 13, 1940, designed to provide better financial reporting of all Federal operations. The Director of the Bureau of the Budget and the Secretary of the Treasury were directed to collaborate with the Comptroller General and the departments in the development of a more adequate system of financial records and reports.

The Budget of the United States is thus the expression of the program of work which the Administration proposes to carry out in a given fiscal year and the central instrument for financial control over the progress of that program. The Bureau of the Budget, in its capacity of staff assistance to the President in formulating and executing the Budget, is engaged in a never-ending process of carrying out the program for the current year and developing plans for work programs and expenditures for the next year. See also PUBLIC FINANCE; TAXATION.

1939: Budget Of The United States

The Budget and Accounting Act of 1921 provided the United States with a national budget system and created a Bureau of the Budget to prepare for the President the Budget of the United States Government. The Act directs the President to submit to Congress on the first day of each regular session a budget which shall set forth in summary and in detail the expenditures and receipts of the government for the fiscal year just completed, estimated expenditures and receipts for the current and for the ensuing fiscal years, and balanced statements showing the condition of the Treasury at the end of each of these periods. Information regarding the indebtedness and financial condition of the government and recommendations for new taxes and loans are also included in the budget document.

The Budget of the United States is the central instrument of financial control over the program of work which the Administration proposes to carry out in a given year. It involves a never-ending process of executing the program for the current year and developing the plan for the following year.

The Executive Departments and Agencies are required every year to submit to the Bureau of the Budget by September 15 detailed estimates of their expenditures for the next fiscal year starting on the first of the following July. The Bureau then conducts intensive hearings at which the departments and agencies defend and justify their estimated expenditures. The departmental estimates may be revised, reduced, or increased by the Bureau. The President, in conference with the Director of the Bureau of the Budget, indicates points at which any changes in the estimates should be made to conform with his general fiscal program. Estimates of the judicial and of the legislative branch are not subject to revision by the Bureau of the Budget but are included in the Budget document. The Director of the Bureau of the Budget may, however, make recommendations with respect to the estimates of the inferior courts.

The appropriation committees of the Senate and House of Representatives hold hearings on the estimates preparatory to consideration on the floor by both houses. Appropriation measures passed by Congress may be approved or vetoed in toto by the President. Hence, the financial program of the Federal government is contained in the appropriation and revenue acts passed by Congress and approved by the President. Estimates of supplemental or deficiency appropriations for meeting contingencies arising subsequently to the submission of the regular budget may be transmitted by the President and acted upon by Congress.

The various departments and agencies are then required to submit their plans of expenditures in schedules of monthly apportionments which the Bureau of the Budget may waive or modify. No expenditure in excess of the monthly apportionment may be made by any department or agency without the approval of the Bureau. The final audit of expenditures is performed by the General Accounting Office.

The regrouping of agencies carried out under the Reorganization Act of 1939 transferred the Bureau of the Budget from the Treasury Department to the Executive Office of the President wherein are lodged the five agencies principally concerned with overall management and central direction of the executive branch of the Federal government. On Sept. 8, 1939, the President issued an Executive Order which specifically defined the functions and duties of the Bureau of the Budget. Besides assisting the President in the preparation and execution of the Budget and the formulation of the fiscal program of the government, the Bureau of the Budget conducts research in the development of improved plans of administrative management, develops reorganization proposals where they would be in the interest of economical and efficient administration, advises with the departments with respect to improved administrative organization and policy, clears and coordinates departmental advice on proposed legislation, assists in preparing proposed Executive Orders and Proclamations, coordinates Federal statistical services, and informs the President of the current and future work programs of the governmental agencies.

The Bureau of the Budget is thus charged with responsibility for assisting the President in the formulation of the United States Budget and the fiscal program of the Federal government and with advising him as to improved and economical administration of the executive branch of the Federal government. See also BANKS AND BANKING; BUSINESS; PUBLIC FINANCE; UNITED STATES: Budgetary.