The fiscal year for the United States government starts on October
first and ends September thirtieth. Other fiscal years begin in April or July.
The American Institute of Certified Public Accountants begin its fiscal year (1)
on August first. Accountants add earnings and losses at the end of a fiscal (2)
year. These numbers are needed to know how much is owed for taxes, and
how much is left for the next budget. Congress is supposing to approve (3)
federal spending for the coming fiscal year by October first. This does not
always happen. Both the House of Representatives or the Senate must (4)
write and vote for their own budget resolution. This is a general plan for (5)
spending. Then, a conference committee meet. Members from both houses (6)
are on this committee. They approve a final budget resolution which goes to
a vote in both houses. But this is not the end of the process. Committees in
both houses must also approve the exact number of money for each program. (7)
This is called appropriations. Below the committees are subcommittees that (8)
make decisions about areas alike education and defense. Bills to permit (9)
spending then go to the full House and Senate for a vote. The appropriations
process often takes place at the same time if the budget resolution process. (10)