Updated: Jan 27
The European Union's budget reflects the multiannual financial framework. It is set annually by the European Parliament and the Council (national ministers) on the basis of Commission proposals. It is managed for the Commission by the Directorate-General for Budget.
Objectives secure the resources needed to implement EU policies, on the basis of effective financial programming
implement both revenue and expenditure in the budget
manage the regulatory framework for the budget
draw up the annual accounts of the EU institutions
promote sound financial management within the Commission
report on execution of the budget and coordinate the discharge procedure from the preparation to the follow-up of the Parliament's and Council's discharge recommendations