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welcome to the European parliamentary research service podcast on the annual EU budgetary procedure each year the EU approves the annual budget for the coming year so can continue financing its policies and programs in the fields of agriculture research and innovation border protection and many others but how is this budget prepared and adopted stay with us and we'll tell you all you need to know about this process to finance all its activities and policies the EU needs money for 2019 for example we're talking about one hundred and sixty five point eight billion euros which is around one percent of the EU 28 gross national income this is not to be confused with the EU long-term budget known as the multi-annual financial framework or mff which is a seven year long term spending plan allowing the EU to plan and invest in long-term projects that's right within the boundaries of the MFF the annual EU budget laced on all EU expenditure in revenue for a single financial year which starts in the 1st of January and ends in the 31st of December it is proposed by the Commission and agreed by the council and the Parliament on equal footing but what are the key steps and timing of this procedure well it all starts with European institutions preparing estimates of their expenditure for the next year so that the Commission could come up with a draft budget by the 1st of September although in practical terms this tends to happen somewhere in May or June leaving more time for negotiations following this more pragmatic calendar which differs from the treaty deadlines the council adopts its position on the draft budget in July although it waits until the end of August or beginning of September to adopt it formally allowing the European Parliament to meet the deadline of 42 days after the council to adopt its position the Poland's position is determined through the work of its committee and budgets and other specialised committees and needs to be voted by the plenary if the council's and Parliament's positions diverge a conciliation committee is convened to iron out the differences and work out a joint text within three weeks if an agreement is reached in conciliation the two institutions then have 14 days to formally approve it but if negotiations fail we go back to square one and the Commission needs to come up with a new draft budget we'll look into that situation later for now let's see in greater detail how the Parliament can amend the council's position on the annual budget draft stay with us MEP s can modify the annual budget through amendments to the council's position but there are different points of entry for such amendments members of the budget committee can table their amendments directly in the committee others can do it in the specialized committee and in some cases they could be tabled directly for the plenary budgetary amendments are processed by the budget committee which decides a new coherent set respecting the limits of the EU s long term budget and in some cases calling for flexibility instruments an important forum for building compromises on the Poland's position is the budget coordinators meeting which consists of the chair and deputy chairs of the Budget Committee political groups budget coordinators and budget reporters to pave the way for smooth negotiations and identify potential discrepancies Parliament council and Commission meet at several key moments during the year in what are known as try logs and the Parliament regularly prepares documents explaining its position the parliament and council need to agree on the new budget before the end of the year however positions are unbridgeable and conciliation fails then the Commission is obliged to present a new draft budget negotiations will continue but if there is still no agreement by the 31st of December the system of provisional twelfths comes into force automatically now what does that mean it means that each chapter of the budget will be funded monthly up to a maximum of 1/12 of the appropriations of the previous year or of the draft budget whichever is the lower now this is a temporary default system and when an agreement is finally reached the adopted budget can apply retroactively late to the full year [Music] you're listening to European parliamentary research service podcasts [Music]