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The money to Israel is NOT appropriations, it comes from the Foreign Military Financing Fund which is 100% allocated by the President. The President decides who and how much of that money goes to what counties and organizations.
That's a very limited part of the support. Most of the money is allocated as I understand by Congress either directly to Israel, allocated to DoD or State Dept. who the. use their own budgets and programs to provide diplomatic and military support, sometimes jointly, of which Congress has oversight, and then through a number of statutory procedures, including the one you cited, which is basically lend-lease financing and grants. I don't know the details of how it works but the President absolutely does not do as you've described. Even the limited authorizations and limited funding controlled by the White House has statutory procedures.