Council Decision adopting the Council position on the draft budget of the European Union for the financial year 2012

3.9.2011 EN Official Journal of the European Union C 261/3
COUNCIL DECISION
adopting the Council position on the draft budget of the European Union for the financial year 2012
2011/C 261/03
THE COUNCIL OF THE EUROPEAN UNION
,
Having regard to the Treaty on the Functioning of the European Union, and in particular Article 314(3) thereof, in conjunction with the Treaty establishing the European Atomic and Energy Community, and in particular Article 106a thereof,
Whereas:
(1) On 26 May 2011, the Commission submitted a proposal containing the draft budget for the financial year 2012 (1).
(2) The Council examined the Commission proposal with a view to defining a position consistent, on the revenue side, with Council Decision 2007/436/EC, Euratom of 7 June 2007 on the system of the European Communities' own resources (2), and on the expenditure side, with Part I of Interinstitutional Agreement of 17 May 2006 between the European Parliament, the Council and the Commission on budgetary discipline and sound financial management (3), which, in the absence of any multiannual financial framework established pursuant to Article 312 of the Treaty on the Functioning of the European Union, constitutes the currently applicable instrument of budgetary discipline,