Safeguarding Disaster Funding Act of 2011- Requires the President's annual budget, submitted to Congress, to include an allowance for disaster funding of at least the average amount of disaster funding for the previous ten years, excluding the highest and lowest years. Requires the Director of the Office of Management and Budget (OMB) to calculate this allowance for the President.
Amends the Balanced Budget and Emergency Deficit Control Act of 1985 (Gramm-Rudman-Hollings Act) to redefine “disaster relief” to conform to the meaning of “disaster funding” in this Act.