Budget and Accounting Act of 1921

E37879

United States federal statute budget law

The Budget and Accounting Act of 1921 is a landmark U.S. federal law that centralized the national budgeting process in the executive branch and established modern mechanisms for federal budget preparation and oversight.

Jump to: Surface forms Statements Referenced by

Observed surface forms (1)

Surface form	Occurrences
Budget and Accounting Act	1

Statements (46)

Predicate	Object
instanceOf	United States federal statute ⓘ budget law ⓘ
alsoKnownAs	Budget and Accounting Act of 1921 ⓘ surface form: Budget and Accounting Act
amendedBy	Budget and Accounting Procedures Act of 1950 ⓘ
appliesTo	executive departments of the United States ⓘ independent establishments of the United States government ⓘ
assignsFunctionTo	Bureau of the Budget for assisting the President in budget preparation ⓘ General Accounting Office for independent auditing of federal expenditures ⓘ
bureauOfTheBudgetLaterBecame	Office of Management and Budget ⓘ
codifiedIn	Title 31 of the United States Code ⓘ
country	United States of America ⓘ surface form: United States
createdAgency	Office of Management and Budget ⓘ surface form: Bureau of the Budget Government Accountability Office ⓘ surface form: General Accounting Office
createdOffice	Comptroller General of the United States ⓘ surface form: Assistant Comptroller General of the United States Comptroller General of the United States ⓘ
dateSigned	June 10, 1921 ⓘ
enactedBy	United States Congress ⓘ
era	post–World War I period ⓘ
establishes	modern executive budget system of the United States ⓘ procedures for submission of budget estimates by federal agencies ⓘ requirement for a unified federal budget ⓘ
generalAccountingOfficeLaterBecame	Government Accountability Office ⓘ
historicalSignificance	marked the beginning of the modern federal budget process in the United States ⓘ shifted budgetary initiative from Congress to the President ⓘ
jurisdiction	United States government ⓘ surface form: federal government of the United States
limits	agencies from submitting budget requests directly to Congress without presidential approval ⓘ
placedBudgetResponsibilityIn	executive branch of the United States ⓘ surface form: executive branch of the United States government
policyArea	administrative law ⓘ government oversight ⓘ public finance ⓘ
presidentAtEnactment	Warren G. Harding ⓘ
providesFor	independent audit of federal accounts by the Comptroller General ⓘ
publicLawNumber	Public Law 67-13 ⓘ
purpose	to centralize federal budget formulation in the executive branch ⓘ to establish independent post-audit of federal accounts ⓘ to improve control over federal expenditures ⓘ
relatedTo	Congressional Budget and Impoundment Control Act of 1974 ⓘ
requires	President of the United States to submit an annual federal budget to Congress ⓘ centralized executive budget preparation ⓘ presidential review of agency budget requests ⓘ
signedBy	Warren G. Harding ⓘ
sponsoredBy	Republican legislators in the 67th United States Congress ⓘ
subjectMatter	federal accounting ⓘ federal auditing ⓘ federal budget preparation ⓘ
yearEnacted	1921 ⓘ

Referenced by (5)

Full triples — surface form annotated when it differs from this entity's canonical label.

Budget and Accounting Act of 1921 → alsoKnownAs → Budget and Accounting Act of 1921 ⓘ

this entity surface form: Budget and Accounting Act

Government Accountability Office → establishedBy → Budget and Accounting Act of 1921 ⓘ

United States federal budget → governedBy → Budget and Accounting Act of 1921 ⓘ

Comptroller General of the United States → legalBasis → Budget and Accounting Act of 1921 ⓘ

Director of the Office of Management and Budget (Cabinet-level) → legalBasis → Budget and Accounting Act of 1921 ⓘ