Office of Management and Budget

Office of Management and Budget primarily supervises the preparation of the US Federal Budget. Its mission is to guide the President with the preparation of federal budget and also looking after the execution of the budget by the various execution agencies. Office of Management and Budget US is also referred to as the OMB. The OMB shoulders the responsibility of advising the President on the expenditure plan. It also decides what work would be alloted to which executive agency and the amount of fund given to them.

OMB assesses the potency of the programs taken up by the agencies and the policies implemented by them. It plays the role of a bridge which connects the President to the other administrative bodies of the US government. OMB makes sure that there is less discrepancy between the reports of the agencies and the President’s budget.

Therefore, OMB plays the major role of a coordinator between the administrative bodies, looks after the financial management and regulatory policies.

Structure of the OMB

The Director of OMB is Mr. Jim Nussle. Next is the Deputy director of OMB who is Mr. Stephen S. McMillin. Then there is a Deputy Director For Management of OMB who is Mr. Clay Johnson III. Mr. Austin Smythe is the Executive Associate Director of OMB.

The Agencies Helping OMB

The OMB needs help from the various agencies which formulate policies that are of help during implementing the budget. The Resource Management Offices or the RMO is an important agency. It performs various functions which help the OMB a lot. It performs functions like:

• They do the review on the budget. The RMO decides on the strategies of the budget. The RMO also offers technical advice on the budget prepared by the President.
• The RMO also performs legislative functions. The Legislative Reference Division does the review on Administration’s legislative suggestions. They also shoulder the important responsibility of negotiating the policies in a way in which both the President’s and the Executive body’s proposals retain their dignity and applicability.
• There are certain statutory offices like the Office of Federal Financial Management that explicates and guides the implementation of financial management policies.
• There are other offices like the Office of Federal Procurement Policy that coordinates the efforts put in to improve the laws pertaining to purchase goods and services. The Office of Information and Regulatory Affairs looks after the betterment of information management and government strategies of budget.

Budget of 2008

According to the 2008 Budget the estimated fund of the OMB should be around $70866000. It predicts a reduction of 7%.