From priorities to public results
The Budget Process
The national budget follows a fixed annual cycle, set out in law, that carries it from an initial resource plan through parliamentary approval, a full year of execution, and a final, independently reported account of what was actually spent.
The four budget stages
Every budget publication on this portal belongs to one of these stages in the budget cycle.
Draft Budget
Before the fiscal year, during legislative scrutiny
The government's proposed budget, submitted to Parliament. It supports public and legislative debate before the budget is enacted.
Approved Budget
At the start of the fiscal year
The budget legally authorised for the year — the Appropriation Act. It establishes spending authority and the official revenue forecast.
Supplementary Budget
During the fiscal year, as needed
A legally approved in-year adjustment to the Approved Budget. A fiscal year can have more than one, numbered in order.
Annual Accounts
After the fiscal year ends
The final record of revenue actually collected and expenditure actually incurred, supporting independent audit.
When Each Stage Happens
The fiscal year runs from 1 January to 31 December. Exact dates can shift slightly from year to year, but the cycle follows the same order every time.
Draft Budget
Typically published before the fiscal year begins.
Approved Budget
Published shortly after Parliament passes it.
Supplementary Budget
Published during the fiscal year, as needed.
Annual Accounts
Published once the year's financial statements have been finalized and audited.