Budget Cycle: Preparation, Execution, and Revision

Évelyne Lande ()
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Évelyne Lande: CEREGE [Poitiers, La Rochelle] - Centre de recherche en gestion [EA 1722] - UP - Université de Poitiers = University of Poitiers - ULR - La Rochelle Université

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Abstract: The budget cycle consists of different phases: preparation and formulation, approbation by a vote, execution, revision, and control of the budget. The budget refers to a fiscal year, and, sometimes, the budget covers a period larger than the fiscal year (multi-year budget). The budget cycle often begins the previously fiscal year (preparation and approbation phases) and finishes the next fiscal year (control phase). At the origin, the budget cycle symbolized the separation between the executive and the legislative powers: the Parliament by its vote approve the budget and control the execution of the budget made by the Government. Even if the budget still has this role, nowadays, it becomes a real tool for the Government in their forecasts and a tool of management.

Keywords: Euro Area; Investment; Expenditure; Fiscal Sustainability; Financial Allocation; Finance Committee (search for similar items in EconPapers)
Date: 2016-12-24
Note: View the original document on HAL open archive server: https://hal.science/hal-02480924v1
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Published in Global Encyclopedia of Public Administration, Public Policy, and Governance, Springer International Publishing, pp.1-15, 2016, ⟨10.1007/978-3-319-31816-5_2261-1⟩

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Persistent link: https://EconPapers.repec.org/RePEc:hal:journl:hal-02480924

DOI: 10.1007/978-3-319-31816-5_2261-1

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