The FRA is financed by European Union funds allocated to it on an annual basis by the European Union budgetary authority i.e. the European Parliament (directly elected MEPs) and the Council of the European Union (representatives of the 28 Member State governments).

The Director of the FRA must present information about how the FRA implemented its budget to the European Parliament (on the request of the Council of the European Union). The FRA is also requested to present its Annual Report on fundamental rights to the European Parliament and to compile an Annual Activity Report.

The FRA's budget for 2019 is €22 million. For a detailed overview of the Agency's budget and finance rules and activities, see the financial documents section.