Regulations and decisions
Decision on the system of own resources
The EU budget is funded almost entirely by own resources.
The basic rules for the own resources system are laid down periodically in a Council Decision (currently 2014/335/EU, Euratom). This decision must be adopted unanimously by the EU Council and ratified by every Member State.
There are 5 other acts regulating this area:
Regulation on the current financial framework
The financial framework sets the annual expenditure ceilings for a period of at least 5 years (currently 7 years).
The current framework runs until 2020. With the entering into force of the Lisbon Treaty the regulation laying down the multiannual financial framework is integrated in Article 312 of the Treaty on the Functioning of the European Union. This means that the multiannual financial framework was established by a unanimously adopted Council Regulation, after approval by the European Parliament, on 2 December 2013.
The Financial Regulation lays down the operating principles and basic rules governing the EU budget. It deals thoroughly with budget implementation and control issues.
The Financial Regulation is reviewed whenever it proves necessary to do so and in any case at the latest two years before the end of each multiannual financial framework.