![]() CROSSWALK: A translation of budget information from one to another – for example, from a budget relation to an authorization or appropriations bill.The continuing resolution thus allows the department, agency, or program to continue operating. CONTINUING RESOLUTION: Legislation that may be enacted to provide budget authority for a department or agency or a specific program when Congress and the president have not completed action on the regular appropriation for that department, agency, or program by the start of the fiscal year or when a previously enacted continuing resolution expires.A budget resolution may contain “reconciliation” instructions to congressional committees. A budget resolution does not require the president’s signature to become effective. The congressional budget resolution, which is expected to pass by April 15, establishes binding figures for the aggregate levels of budget authority, outlays, revenues, and deficit or surplus, the appropriate level of the public debt, and an estimate of the budget authority and outlays for each of the budget functions. CONCURRENT RESOLUTION ON THE BUDGET: Legislation passed by Congress that establishes, reaffirms, or revises the congressional budget for a fiscal year.The three basic types of budget authority are appropriations, borrowing authority, and contract authority. Budget authority is not necessarily the amount of money an agency or department actually will spend during a fiscal year but merely the upper limit on the amount of new spending commitments it can make. BUDGET AUTHORITY: The authority granted to a federal agency in an appropriations bill to enter into financial commitments that result in immediate or future spending.This is not a forecast of a future budget, only a benchmark against which proposed changes in taxes or spending can be measured. For the purposes of the Budget Enforcement Act, the baseline is defined as the projection of current-year levels of new budget authority, outlays, revenues, and the surplus or deficit into the budget year and outyears based on laws enacted through the applicable date. BASELINE: An estimate of spending, revenue, the deficit or surplus, and the public debt expected during a fiscal year under current laws and current policy.BALANCED BUDGET: When annual revenues equal annual outlays, measured by fiscal years.Except in the case of entitlements, an appropriation is the key determinant of how much will be spent on a program. APPROPRIATION: The appropriation enables an agency or department to (1) make spending commitments and (2) spend money.The authorization does not, however, provide the actual dollars for a program or enable an agency or department to spend funds in the future. AUTHORIZATION: The substantive legislation that establishes the purpose and guidelines for a given activity and usually sets the limit on the amount that can be spent. ![]() Advance funding generally is used to avoid requests for supplemental appropriation for entitlement programs late in a fiscal year when the appropriations for the current fiscal year are insufficient. ADVANCE FUNDING: Budget authority provided in an appropriation act that allows funds to be spent during this fiscal year even though the appropriation actually is for the next fiscal year.The amount provided by an advance appropriation is included in the budget totals of the year that it will become available for obligation by the federal government. ADVANCE APPROPRIATION: Budget authority provided in an appropriation act which is first available in a fiscal year beyond the fiscal year for which the appropriation act is enacted.
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