1. 7 th Grade Civics Miss Smith *pgs. 305-308

2.  Each level of _________ has a __________ responsible for collecting _____  Ex: Internal Revenue Service (___)  After tax money is collected, goes to the __________ of various govs.  The ___________ makes sure public funds are used only with legislative approval

3.  Budgets list the amount and ________ of expected revenue (or ______)  They also show what the expected ____________ will be/ how the money will be spent  Management of public funds is _______ btwn the executive and __________ branches  Executive branch prepares the budget, ___________ passes the budget

4.  The president prepares the _______ budget  The Office of Management and ______ (___) help the president  Each dept. sends the ___ an _______ of how much they plan to spend the ____ ____

5.  The pres. sends the budget to ________ with a message explaining it  The _____ and ______ review and debate the budget  Both houses of ________ must approve it  The budget is passed as ____________ bills  The pres. then approves or ______ them

6.  Balanced budget- budget in which ________ equals ______________  The amount of money collected equals the amount of money spent  Surplus- ______ of ______, such as when a government collects more _____ than it spends  Deficit- ________ of ______, such as when a government spends more _____ than it _________

7.  When the gov. runs a _______, it must ______ money to make up the difference  This adds to the national ____  Part of the country’s ________ is set aside each year to ____ down the _______

8.  Audit- careful ___________ by trained _____________ of every item of ______ and every ___________