1993 Federal Financial Management Status Report issued.The Office of Management and Budget The Office of Management and Budget (OMB), formerly the Bureau of the Budget, is an agency of the federal government that evaluates, formulates, and coordinates management procedures and program objectives within and among departments and agencies of the Executive Branch. (OBM OBM Organizational Behavior Management OBM Own Brand Manufacturing OBM Open Business Management OBM Office of Budget Management (Ohio) OBM Original Brand Manufacturer OBM Oil-Based Muds (oil well drilling) ) released its 1993 Federal Financial Management Status Report and Five-Year Plan Five-Year Plan, Soviet economic practice of planning to augment agricultural and industrial output by designated quotas for a limited period of usually five years. , as required by the Chief Financial Officers Act of 1990. The report and plan cover seven key areas of financial management: accountability standards, financial management organization, financial management personnel, financial systems, management controls, asset management and audited financial reporting. The document also includes data, available for the first time, on the status of 878 agency financial management systems and discusses new governmentwide policies on financial systems. As the next reporting cycle begins, OMB OMB abbr. Office of Management and Budget Noun 1. OMB - the executive agency that advises the President on the federal budget Office of Management and Budget says it will focus on developing a strategic plan for financial management that incorporates the results of Vice-President Al Gore's National Performance Review (see story beginning on page 13), along with the agency's efforts to rethink re·think tr. & intr.v. re·thought , re·think·ing, re·thinks To reconsider (something) or to involve oneself in reconsideration. re how it does business. For a copy of this year's report, write Executive Office of the President, Publication Services, New Executive Office Building, Room 2200, 727 17th Street, N.W., Washington, D.C. 20503, or call (202) 395-7332. |
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