Answer:
The Office of MANAGEMENT and Budget, part of the executive branch, prepares the initial FEDERAL budget. However, the president's budget is only a PROPOSAL THAT MUST BE APPROVED BY CONGRESS.
Explanation:
The Office of Management and Budget is the largest department or office in the White House. It is also one of the most powerful and influential ones. The budget prepared by the OMB must be sent to Congress in order for it to approve it. Congress has the power to modify and amend it through he process of appropriations. The OMB is also responsible for monitoring how the approved budget is spent, and if it follows the President's policies.
By analyzing the federal budget proposed by the president, you can understand the policies that are favored by the administration and those that are not. E.g. if the federal budget cuts the EPA budget, then you know that the environment is not something important for the president.