Annex - Legal Basis for the Establishment of the EU budget
Treaty on the Functioning of the European Union (TFEU), Title II - Financial Provisions - Articles 310 to 325:1
Article 310: “The Union’s annual budget shall be established by the European Parliament and the Council (…). The revenue and expenditure shown in the budget shall be in balance”.
Article 311: “The Union shall provide itself with the means necessary to attain its objectives and carry through its policies”.
Article 312: “The multiannual financial framework shall ensure that Union expenditure develops in an orderly manner and within the limits of its own resources. It shall be established for a period of at least five years. The annual budget of the Union shall comply with the multiannual financial framework”.
Article 314: “The European Parliament and the Council, acting in accordance with a special legislative procedure, shall establish the Union’s annual budget (…)”.
Article 318: “The Commission shall submit annually to the European Parliament and to the Council the accounts of the preceding financial year relating to the implementation of the budget”.
Article 319: “The European Parliament, acting on a recommendation from the Council, shall give discharge to the Commission in respect of the implementation of the budget”.