The Committee on Budgets (BUDG) is a committee within the European Parliament. A committee is a (relatively) small group that can serve one of several functions: Governance: in organizations too large for all the members to participate in decisions affecting the organization as a whole, a committee (such as a Board of Directors) is given the power to make decisions. ... The European Parliament building in Strasbourg The inside of the building The European Parliament (formerly European Parliamentary Assembly) is the parliamentary body of the European Union (EU), directly elected by EU citizens once every five years. ...
Remaining policy areas fall under either the assent procedure or (in a very few cases) the consultation procedure; under the former Parliament has power to veto but not formally amend proposals, while under the latter it has only a formal right to be consulted.
The European Parliament controls the EU budget, which must be approved by the Council in order to become law.
Thus the European Parliament is sometimes informally referred to as the 'Strasbourg Parliament' and Strasbourg as the democratic (opposed to bureaucratic) capital of Europe.