Final answer:
The correct term for the schedule of legally required events in the budgeting process is the Budget calendar. This term describes the ordered series of procedures beginning with the President's budget proposal to Congress and ending with the final approval of the federal budget.
Step-by-step explanation:
The schedule of legally required events in the budgeting process is generally referred to as the Budget calendar. This term pertains to the sequence of steps that governments, particularly at the federal level, must follow to create and approve a budget for the next fiscal year. The budgeting process begins with the President submitting a proposed budget to Congress, which outlines both anticipated revenues and proposed expenditures. While this proposal acts as a starting point, the actual budget process can be contentious as it involves a series of steps, including adjustments by Congress, debates, and necessary approvals before final enactment. Understanding the federal budget process is crucial, as it determines how government funds are allocated and spent. The agenda can include several stages, such as budget preparation, submission, justification, appropriation, execution, and audit. The entire process is meticulously scheduled, ensuring that each phase complies with legal requirements and deadlines.