The federal budget is the primary policy statement of the President's fiscal priorities and proposals for allocating expenditures and taxes. The budget also functions as a framework and reference point for congressional actions. Because of the budget's economic, social, and political importance and its role in providing the information needed to assess program efficiency and effectiveness, an understanding of budget concepts is important to anyone interested in how the United States Government works or does not work. Budgetary terms and definitions must also be understood in order to consider and implement changes in the budgetary or financial management process and to grasp what the government is doing at any given point in time.This book is a basic reference document for the Congress, federal agencies, and others interested in the federal budget-making process. It emphasizes budget terms, but relevant economic and accounting terms are also defined to help the user appreciate the dynamics of the budget process. It distinguishes between any differences in budgetary and non-budgetary meanings of terms.