While budget preparation practices vary considerably the overall process is guided by a set of instructions issued by the legislative body - False
The process of creating a budget involves specific groups and people who have roles that must be fulfilled within a set timeframe. In order to help the US Congress make decisions about government budgets and laws, the Congressional Budget Office disseminates financial data, financial analysis, and reports to Congress.
It offers the Congress fast, impartial, and objective information, analyses, and projections pertaining to national economic and financial issues. Therefore, despite the fact that budget preparation procedures vary greatly between public agencies and between levels of government, the entire procedure is governed by a set of guidelines provided by the CBO.
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