Budget Cycle

The budget cycle extends over three years, during which the budget is prepared (budget preparation), executed (budget execution) and closed by the decree approving the account (budget closure).

The preparation of the budget begins with the distribution of the budgetary circular which gives the guidelines to be followed in the preparation of budgetary proposals (see phase 1).

The functional departments communicate these proposals, which are examined at bilateral administrative and political meetings (see phases 2 and 3).

The draft budgetary decrees are adopted by the Government (see phase 4) and then submitted to Parliament (see phase 5).

At the end of the parliamentary phase, the data are integrated into the "SAP" accounting software package (see phase 6) and the decrees are published in the Belgian Official Journal (see phase 7).

This stage consists of the implementation of the budget, which means:

• on the revenue side: the charging of established entitlements to the Community and of revenue received in cash,
• on the expenditure side: in compliance with the appropriations voted by Parliament, the amounts required for obligations arising or entered into during the budget year are charged to commitment appropriations and established entitlements in favour of third parties are charged to payment appropriations.

One or more budgetary adjustments may be made during the year and follow the same procedure as the budgetary decree.

The purpose of this stage is to report to Parliament on the execution of the budget, which takes the form of the General Account.

For its part, the Government sends the General Account to the Court of Audit for comment and certification (see phase 1).

Finally, the Government submits to Parliament the draft decree approving the General Account (see phase 2).