Office of Management and Budget

The mission of the Office of Management and Budget (OMB) is to serve the President by developing the annual budget proposal; overseeing the execution of the budget; developing and monitoring the administration of policies and programs, including management policies to improve the efficiency and effectiveness of the government; and advising and assisting the President, including coordination and clearance of all executive branch communications to Congress and all executive orders.

Within OMB, there are also three statutory offices that are responsible for federal government policies on information and regulations, financial management, and procurement. GAO's work has identified key challenges facing OMB as it assesses competing and growing funding demands, sets policy, and oversees important management initiatives.

• The federal government faces an unsustainable fiscal outlook that warrants increased transparency over the longer-term costs implicit in existing and proposed policies.
• With the various views on how OMB should carry out its rule-making role, OMB must develop an agreed-upon oversight approach and develop ways to improve transparency and communication of its decisions to all stakeholders.
• As Internet-based exchanges of information become the standard, agencies are increasingly under pressure to collect, process, and protect information and systems, and OMB will have to set the overall direction and oversee these important initiatives.
• Finally, there is a continued and widespread lack of effective financial management systems. Additional efforts are needed to ensure that agencies have systems that can provide reliable, useful, and timely information.