Certified Government Financial Manager (CGFM) Practice Exam 2025 – Your All-in-One Guide to Exam Success!

The final step in the budget formulation process as outlined in Circular A-11 is submitting the President's budget to Congress. This crucial stage signifies the culmination of extensive planning, analysis, and coordination that takes place prior to the submission. After agencies have finalized their proposals and the comprehensive budget package has been prepared, the finalized budget must be presented to Congress in a formal manner.

Submitting the President's budget is significant because it represents the administration’s priorities and policy goals, effectively communicating to Congress and the public how the government intends to allocate resources for the upcoming fiscal year. This submission is essential for the legislative process, as Congress will review, amend, and ultimately approve the budget, shaping government spending and policies.

The final step is not simply an administrative task; it is a critical moment that transitions budgetary planning into the legislative arena, where decisions are made about funding the various programs and services that the government provides.