President Budget Account in the United States
Account in the President’s Budget: Expenditure/Appropriation and Receipt Accounts Classified by Fund Types in the Federal Budget Process
Meaning of President Budget Account in the congressional and executive budget processes (GAO source): Accounts used by the federal government to record outlays (expenditure accounts) and income (receipt accounts) primarily for budgeting or management information purposes but also for accounting purposes. All budget (and off-budget) accounts are classified as being either expenditure or receipt (including offsetting receipt) accounts and by fund group. Budget (and off-budget) transactions fall within either of two fund groups: (1) federal funds and (2) trust funds.
All federal fund and trust fund accounts are included within the budget (that is, they are on-budget) unless they are excluded from the budget by law. Federal and trust funds excluded from the budget by law are classified as being off-budget. The term off-budget differs from the term nonbudgetary. Nonbudgetary refers to activities (such as the credit financing accounts) that do not belong in the budget under existing concepts, while off-budget refers to accounts that belong on-budget under budget concepts but that are excluded from the budget under terms of law.
Guide to Federal Fund Accounts (Budget Process)
- Federal Fund Accounts
- General Fund Accounts
- Intragovernmental Fund Accounts
- Public Enterprise Revolving Fund Account
- Special Fund Receipt Account
Guide to the U.S. Federal Trust Fund Accounts (Budget Process)
- Trust Fund Accounts
- Trust Fund Expenditure Account
- Trust Fund Receipt Account
- Trust Revolving Fund Account
Resources
See Also
- Federal Appropriations
- Entries about the United States Budget Process in the Encyclopedia (including President Budget Account)
- Public Debt
Further Reading
- Legislatures and the budget process: the myth of fiscal control
(J Wehner, 2010)
- Reconcilable Differences?: Congress, the Budget Process, and the Deficit (JB Gilmour, 1990)
- Fiscal institutions and fiscal performance
(JM Poterba, J von Hagen, 2008)
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