The Federal Budget Process

1. Budget formulation- in this process, a budget undergoes various processes of request, markups hearings, and voting to decide details of the budget. In this process it will pass back and forth between Congress and the agency and will undergo various conferences in which the agency and Congress negotiate to settle their differences. At its final step the finished version will either be signed into action or vetoed by the president.
2. Execution- small changes may be made to fit the budget to appropriate resources, resources are allocated, and any investigations regarding them may occur.
3. Congressional oversight- continues for three years, after which Congress will remark on the success over that period.

http://www.budgetanalyst.com/Process.htm
-links avaiable at each step