diff --git a/libgnucash/app-utils/options.scm b/libgnucash/app-utils/options.scm
index dbc4e0b5cb..4aa435744f 100644
--- a/libgnucash/app-utils/options.scm
+++ b/libgnucash/app-utils/options.scm
@@ -466,16 +466,14 @@ the option '~a'."))
          sort-tag
          documentation-string)
 
-  (let* ((initial-budget (gnc-budget-get-default (gnc-get-current-book)))
-	 (selection-budget initial-budget)
-         )
-
+  (define (convert-to-guid item)
+    (if (string? item) item (gncBudgetGetGUID item)))
 
-    (define (convert-to-guid item)
-      (if (string? item) item (gncBudgetGetGUID item)))
+  (define (convert-to-budget item)
+    (if (string? item) (gnc-budget-lookup item (gnc-get-current-book)) item))
 
-    (define (convert-to-budget item)
-      (if (string? item) (gnc-budget-lookup item (gnc-get-current-book)) item))
+  (let* ((initial-budget (gnc-budget-get-default (gnc-get-current-book)))
+	 (selection-budget (convert-to-guid initial-budget)))
 
     (gnc:make-option
      section