EUMETSAT derives the vast majority of its funding from the contributions of its Member States.

These contributions are calculated as pro-rata to the Gross National Income (GNI) of the respective State. This helps justify the democratic principles by which EUMETSAT is controlled, on the basis of one vote for each country and weighted majority voting on key financial issues. Preparatory and core activities are covered by a General Budget, which is essentially a programme approved in five-year slices. All major new activities, such as the satellite systems, are covered by new programmatic arrangements. The first Meteosat programme, initiated by ESA in 1983, was closely monitored by EUMETSAT from 1987 and was completed as planned, within budget, in 1995. The headquarters building and the new Meteosat ground segment were multi-year projects costing tens of millions of Euro. They were also completed on time and within budget. The EUMETSAT Council routinely reviews the progress of all programmes against the original plan and ensures that the annual budgets and the three-year running financial plans are consistent with that framework. In addition, the Secretariat prepares a ten-year financial plan showing the cumulative financial requirements for approved programmes and the programmes still in the planning stages.

As with any other organisation, EUMETSAT has an annual budget cycle. The financial year is the calendar year, with preparations for each annual budget starting in the previous Spring. After review by the subsidiary bodies, including the Administrative and Finance Group and the Scientific and Technical Group, the budget is submitted in November to the full Council for approval. The amount of the approved budgets has grown over the years in line with the development of EUMETSAT's new programmes.