New to State Budgeting
Two-Year Budget Cycle
State budget covers two fiscal years, called a biennium. Each fiscal year starts on July 1.
Long Session
- Odd-numbered years
- Biennial budget enacted
- Session Laws passed apply to both years of biennium
Short Session
- Even-numbered years
- Adjustments to the second year of the biennial budget
Timeline of Major Budget Processes
The budget process timeline in the graphic above meant as a general guide. Actual timing may vary.
State Budget Offices and OSBM
OSBM Role
- Administration of the state budget under the State Budget Act
- Provides guidance on key budget processes, based on state law
- Prepares Governor's Recommended Budget
- Sets budget management policy in the State Budget Manual
- Forecasts and monitors state revenues
- Certifies budgets for agencies and universities
- Provides fiscal advice to the Governor
- Oversees allotments and approves budget revisions
Agency/University Budget and Finance Roles
- Daily management of budget and accounting operations in respective agency or university
- Ensuring compliance with all laws, regulations, and policies
- Completing monthly, quarterly, and year-end closeout
- Preparing budget requests and revisions
- Maintaining and reporting budget and financial data
Recommended Introductory Training
Budget Basics - The State Budget Act
Overview of State Budget Act, State Budget Manual, and other resources from the Budget 101 webinar
Understanding NC's Biennial Budget Process
Quick overview of the two-year budget process in North Carolina
Resources Every State Budget Employee Should Know
Two-minute overview of sources of budget management information and resource for state agencies and universities