Final answer:
The President of the United States is responsible for preparing the federal budget, which is then submitted to Congress. For state budgets, the process typically begins with the governor submitting a proposal, which is reviewed by the state legislature and various committees. The state comptroller may also be involved in certifying the budget before it becomes law.
Step-by-step explanation:
The individual responsible for preparing and submitting the state budget varies across different levels of government. At the federal level, it is the President of the United States who establishes a general budget, consulting with the Office of Management and Budget (OMB), the Council of Economic Advisors, heads of various departments and agencies. The proposed federal budget is submitted to Congress, where it is reviewed and potentially amended before being passed.
At the state level, the process often begins with the governor, who initiates a budget proposal indicating funding priorities. This proposal is then reviewed and amended by the state legislature, in a process involving various committees and possibly the state comptroller, who must certify the appropriations bill before it can become law.
Furthermore, for all levels of government—federal, state, and local—the proposed budget includes anticipated revenues and expenditures, which can change significantly based on policy decisions and external events. Committees such as the House and Senate Appropriations Committees, the Congressional Budget Office (CBO), and their respective counterparts at the state level play key roles in the budgeting process.