Office of Management and Budget

(noun)

The largest office within the Executive Office of the President, the OMB is in charge of overseeing the preparation of the federal budget and the administering of that budget within the federal branch.

Related Terms

Examples of Office of Management and Budget in the following topics:

  • Preparing the Budget

    • The Office of Management and Budget (OMB) performs key tasks in preparing the presidential budget request that is submitted to Congress.
    • Before it is submitted, the president spends months working with the Office of Management and Budget (OMB) to formulate this budget request .
    • The Office of Management and Budget is the largest office within the Executive Office of the President.
    • The Office of Management and Budget plays a key role in preparing the president's budget request to Congress.
    • Summarize the key role played by the Office of Management and Budget in shaping the President's budget request

  • The Cost of Maintaining the Government

    • The Office of Management and Budget (OMB) is a cabinet-level office, the largest within the Executive Office of the President of the United States (EOP).
    • The Budget and Accounting Act of 1921, which was signed into law by President Warren G.
    • In the 1990s, OMB was reorganized to remove the distinction between management and budgetary staff by combining those dual roles within the Resource Management Offices.
    • Each year in March, the Congressional Budget Office (CBO) publishes an analysis of the President's budget proposals.
    • The Office of Management and Budget plays a key role in preparing the president's budget request to Congress.

  • The Executive Office of the President

    • The EOP encompassed two subunits at its outset: the White House Office (WHO) and the Bureau of the Budget, the predecessor to today's Office of Management and Budget (OMB), which had been created in 1921 and originally located in the Treasury Department.
    • Trade Representative (1963), the Council on Environmental Quality (1970), the Office of Science and Technology Policy (1976), the Office of Administration (1977), and the Office of National Drug Control Policy (1989).
    • Precise estimates as to the size and budget of the EOP are difficult to come by.
    • Very few EOP officials are required to be confirmed by the Senate, although there are a handful of exceptions to this rule--the Director of the Office of Management and Budget, the Chair and members of the Council of Economic Advisers, and the United States Trade Representative.
    • The staff of the Executive Office of the President is managed by the White House Chief of Staff.

  • The Role of the Federal Budget

    • The Federal Budget is the roadmap for how the national government plans to spend its money of the course of the upcoming year.
    • The Budget of the United States Government often begins as the president's proposal to the U.S.
    • These include the Government Accountability Office (GAO), Congressional Budget Office (CBO), the Office of Management and Budget (OMB), and the U.S.
    • If Congress fails to pass an annual budget, a series of appropriations bills must be passed as "stop gap" measures.
    • The federal budget is meant to provide the larger American economy with a sense of direction regarding where the Federal government is going to go and what they are going to do.

  • The Budgeting Process

    • The military budget of the United States during FY 2011 was approximately $740 billion in expenses for the Department of Defense (DoD), $141 billion for veteran expenses, and $48 billion in expenses for the Department of Homeland Security, for a total of $929 billion.
    • Several government agencies provide budget data and analysis.
    • These include the Government Accountability Office (GAO), Congressional Budget Office, the Office of Management and Budget (OMB) and the U.S.
    • The annual budget deficit is the difference between actual cash collections and budgeted spending (a partial measure of total spending) during a given fiscal year, which runs from October 1 to September 30.
    • Describe the key components of the budget process and the current fiscal position of the United States

  • The Executive Office of the President

    • The EOP encompassed two subunits at its outset: the White House Office (WHO) and the Bureau of the Budget, the predecessor to today's Office of Management and Budget (OMB), which had been created in 1921 and originally located in the Treasury Department.
    • Trade Representative (1963), the Council on Environmental Quality (1970), the Office of Science and Technology Policy (1976), the Office of Administration (1977), and the Office of National Drug Control Policy (1989).
    • Bush, additional units were added, such as the Office of Homeland Security (2001), which later became a cabinet department, and the Office of Faith-based and Community Initiatives (2001).
    • Precise estimates as to the size and budget of the EOP are difficult to come by.
    • Distinguish the various key positions in the Executive Office and the roles and responsibilities of each

  • The Staff System

    • The various types of congressional staff are as follows: personal staff, who work for individual members of Congress; committee staff, who serve either the majority or minority on congressional committees; leadership staff, who work for the speaker, majority and minority leaders, and the majority and minority whips; institutional staff, who include the majority and minority party floor staff and non-partisan staff; and the support agency staff, who are the non-partisan employees of the Congressional Research Service (CRS), Congressional Budget Office (CBO), and Government Accountability Office (GAO).
    • In 2000, House committees had an average of 68 staff, and Senate committees an average of 46.
    • Committee staff includes staff directors, committee counsel, committee investigators, press secretaries, chief clerks and office managers, schedulers, documents clerks, and assistants.
    • The Russell Senate Office Building houses several Congressional staff members, including those on the United States Senate Committees on Armed Services, Rules and Administration, Veterans' Affairs, and others.
    • Differentiate between the roles of different congressional staff; in the Congressional Research Service, Congressional Budget Office, and Government Accountability Office

  • The Goals of Capital Budgeting

    • The main goals of capital budgeting are not only to control resources and provide visibility, but also to rank projects and raise funds.
    • The purpose of budgeting is to provide a forecast of revenues and expenditures.
    • Budgeting helps to aid the planning of actual operations by forcing managers to consider how the conditions might change, and what steps should be taken in such an event.
    • It also helps co-ordinate the activities of the organization by compelling managers to examine relationships between their own operation and those of other departments.
    • The ideal mix of those funding sources is determined by the financial managers of the firm and is related to the amount of financial risk that the corporation is willing to undertake.

  • Creating a Budget

    • Prior to the beginning of the year, managers prepare a plan for what they hope to accomplish in the coming year in terms of revenue, expenses, and net profit.
    • Budgeting helps aid the planning of actual operations by forcing managers to consider how the conditions might change.
    • It thus encourages managers to consider problems before they arise and think of the steps that should be presently taken.
    • It also helps coordinate the activities of the organization by compelling managers to examine relationships between their own operation and those of other departments.
    • The focus is therefore in engaging the managers in the business more fully in the budget process, and building accountability for the results.

  • Determining a Budget

    • Marketing budgets aid in the planning of operations by forcing managers to prioritize activities and consider how conditions may change.
    • As with all business activities, marketing budgets help the planning of actual operations by forcing managers to prioritize activities and consider how conditions might change.
    • It also helps coordinate the activities of the organization by compelling managers to examine relationships between their own operation and those of other departments, which is a key component of integrated marketing.
    • The essential purposes of budgeting include:
    • When determining a budget for an integrated marketing plan, it is important for managers to understand the components of IMC in order to allocate funds properly .