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What is the Treasury Budget?

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  • Written By: Osmand Vitez
  • Edited By: Jenn Walker
  • Last Modified Date: 27 August 2016
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The treasury budget represents financial information and data released by the United States (U.S.) Treasury on a monthly basis regarding the finances of the U.S. federal government. The treasury budget is part of the overall federal government budget process that starts with the president’s budget proposal, which is voted on by the U.S. Congress. The presidential budget usually starts in January of each calendar year and is presented to Congress for approval between March and April of the same year. The presidential budget process is governed by the U.S. Constitution and the Budget and Accounting Act of 1921.

U.S. federal budget information is usually collected and presented through several different government agencies. The Government Accountability Office, Congressional Budget Office, Office of Management and Budget and the U.S. Treasury department all work together to collect, record and report financial budget information for the federal government. While these government agencies prepare different information regarding governmental budgets, the U.S. Treasury is solely responsible for managing the treasury budget.

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The monthly treasury budget statement contains specific information on the expenditures and receipts of the federal government. Surplus and deficit information is also recorded in the monthly statements that outline whether the government is collecting or spending more money than expected. The budget is usually prepared on a cash basis method: information contained in the monthly statement represents actual transactions that have occurred during the month. Future collections or changes to the budget are usually recorded in the monthly statement where the change occurs. The U.S. Treasury is responsible for releasing information regarding this budget to the American people.

The treasury budget statement may also indicate whether the U.S. treasury has decided to sell notes or bonds to make up any deficits that have resulted from the presidential budget. These notes or bonds are typically sold to foreign governments, private investment groups or individual investors. The money gained from these sales are used to offset the deficits created by the presidential budget or to help offset a lack of revenue collected from traditional government revenue streams.

Monthly treasury budget reports often contain disclosures or comments regarding the collection of federal government receipts and information about the cash outlays for each month’s treasury report. This information helps individuals understand the process used by the U.S. Treasury to develop these reports and the effect of the internal government functions on the treasury budget. Information related to the sales of notes or bonds to offset treasury budget deficits may be obtained from the Federal Reserve, which is usually responsible for selling federal government notes and bonds.

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