Federal Budgeting: An Introduction

Credits CPEs: 14|CEUs: 1.4

Level Overview

Delivery Method(s): Classroom, Virtual

Who Should Attend

This Federal Budgeting course can be beneficial for a wide range of employees who are involved in or affected by the budgeting process, or those who are interested in learning more about federal budgeting practices. Individuals who may find value in attending a Federal Budgeting class include: 

• Budget analysts and specialists: These professionals are directly involved in the budget formulation, execution, and control processes within their respective agencies. A Federal Budgeting class can help them enhance their skills, stay current with best practices, and better understand the broader context of their work.
  
  
• Financial managers and accountants: Financial management professionals play a crucial role in ensuring that budgetary resources are used effectively and responsibly. A budgeting class can help them better understand the budget process and how it relates to their financial management responsibilities.
  
  
• Program and project managers: These individuals are responsible for implementing and managing federal programs and projects that depend on budgetary resources. A budgeting class can help them understand the budgetary constraints and requirements that affect their work and improve their ability to plan and allocate resources effectively.
  
  
• Policy analysts and advisors: Policy professionals often need to understand the budgetary implications of policy proposals and options. A budgeting class can help them better evaluate the fiscal consequences of different policy choices and develop more fiscally responsible recommendations.
  
  
• Contracting and procurement officers: These employees are involved in the acquisition of goods and services for federal agencies and must be aware of the budgetary constraints and requirements that govern procurement activities. A budgeting class can provide them with valuable insights into the budgetary context of their work.
  
  
• Human resources professionals: HR personnel need to understand the budgetary implications of personnel decisions, such as hiring, promotions, and workforce planning. A budgeting class can help them make more informed decisions that align with budgetary priorities and constraints.
  
  
• Legislative affairs specialists: Professionals responsible for liaising with Congress and other legislative bodies need to understand the federal budgeting process and its impact on policy and legislation. A budgeting class can help them better represent their agencies' interests and priorities in legislative negotiations.
  
  
• Senior executives and managers: High-level decision-makers in federal agencies should have a solid understanding of the federal budget process and its implications for their agencies' operations, strategic planning, and performance. A budgeting class can help them make more informed decisions and provide more effective leadership.
  
  
• Other federal employees: Even those who do not have direct budgetary responsibilities may benefit from a better understanding of the federal budget process, as it can provide valuable context for their work and help them become more effective contributors to their agencies' missions.

Additional Information

Prerequisites: None

Advanced Preparation: None

NASBA CPE Field of Study: Finance (Federal)

Course Overview

Article 1, Section 8 of the United States Constitution designates the power of the purse as a function of Congress. The federal budget process, as defined in the Congressional Budget and Impoundment Control Act of 1974, is the methodology through which the power of the purse is executed. This course is designed to provide students with a comprehensive understanding of the federal budgeting process, its key components, and the role it plays in shaping public policy and fiscal management.

Course Objectives

• Develop a foundational understanding of federal budgeting concepts: Learn the basic terminology, principles, and concepts related to federal budgeting, including budget formulation, execution, and control.
  
  
• Understand the federal budget process and timeline: Familiarize students with the various stages of the budget process, including budget planning, preparation, submission, approval, implementation, and evaluation. Students should also understand the timeline and key dates in the budget cycle.
  
  
• Analyze the roles and responsibilities of key stakeholders: Teach students about the roles and responsibilities of the executive branch, legislative branch, and various federal agencies in the budgeting process, as well as the role of interest groups and the public.
  
  
• Examine the components of the federal budget: Learn about the different components of the federal budget, including mandatory spending, discretionary spending, revenues, deficits, and debt, and how these components interact with one another.
  
  
• Explore budgetary policy tools and their impact: Introduce students to various fiscal policy tools, such as taxation, spending, and borrowing, and how these tools can be used to achieve economic and social objectives, including fiscal sustainability, economic growth, and income redistribution.
  
  
• Develop skills in analyzing and interpreting budget data: Equip students with the ability to analyze and interpret budget data and documents, such as budget proposals, appropriations bills, and budget execution reports, in order to evaluate budgetary priorities, trends, and outcomes.
  
  
• Foster critical thinking and ethical considerations: Encourage students to think critically about the federal budgeting process, including potential biases, trade-offs, and ethical concerns, and to consider how these factors may influence budgetary decisions and outcomes.
  
  
• Enhance communication and presentation skills: Review how to effectively communicate their understanding of federal budgeting concepts and analysis to various stakeholders, both in writing and orally, in a clear, concise, and persuasive manner.
  
  
• Encourage collaboration and teamwork: Promote a collaborative learning environment where students can work together on group projects, share ideas, and learn from one another. 

By achieving these objectives, students should gain a comprehensive understanding of the federal budgeting process and be prepared to engage in informed discussions about fiscal policy and budgetary decision-making in professional and academic settings.