OMB

The Office of Management and Budget (OMB) is a United States federal government office within the Executive Office of the President. It assists the President in supervising the preparation of the federal budget and oversees its execution across Executive Branch agencies, aiming to ensure sound financial management, regulatory policy, and information governance.

OMB traces its origin to the Budget Bureau, created by the Budget and Accounting Act of 1921. It was reorganized and renamed the Office of Management and Budget in 1970. As a component of the Executive Office of the President, OMB serves as a central management agency that coordinates policy, budget, and management across federal departments and agencies.

Key functions include developing the President’s budget and fiscal policy, reviewing agency proposed budgets and regulations, and guiding management improvements throughout the federal government. OMB also oversees procurement, financial management, and information policy, and it administers guidance for federal grants and programs. The office plays a leading role in regulatory policy, primarily through the Office of Information and Regulatory Affairs (OIRA), which reviews significant regulations for consistency with the President’s priorities and for cost-benefit impacts.

Leadership is vested in the Director of the Office of Management and Budget, who is appointed by the President and confirmed by the Senate. OMB publishes the President’s Budget and related analytical materials, and it issues policy guidance, including circulars on grants and financial management. Since the 2010s, many grant-related Circulars have been consolidated into the Uniform Guidance (2 CFR part 200) to standardize federal awards.