Budgetary procedure:
1. The commission drawing up a preliminary draft budget by september 1 each year. Work performed by Budget Directorate-General under the supervison of the Budget Commissioner.
2. The commissioners has to agree.
3. The dragt budget is sent to the Council of Ministers. They have till 1 October to adopt.
4. Then the draft budget is sent to the EP, they have 42 days either to approve the Councils position or to amend.
5. If the EP has amended something it goes back the Council.  It can accept de amendments by (QMV) or response to the Amendments (they have 10 days. They can also reject them which would lead to the convening of the concilation committee.
6. Now there are fourteen days for the EP and the Council to act.
- If they both approve or fail to act the budget law is approved.
- If the EP adopts the budget but the Council rejects the EP may decide to restore some or all of its amendments. iF it can secure an absolute majority and three-fifth of the votes, the amendments are restored and the budget law is approved.
- If the Council adopt the budget but the EP rejects the budget falls and the commission has to present a new proposal.
7. If no budget has been agreed by the 1 january the EU has to operate on a system know as provisional twelfths: each month one twelfth of the previous year's budget total is released to cover expenditure