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United States. Office of Management and Budget


Historical Information

Management and Budget, Office of, (OMB), an agency of the executive branch of the U.S. government. The OMB was established in the Executive Office of the President in 1970. Under its director, the agency is charged with assisting the president in promoting and maintaining effective government. The OMB reviews the organizational structure and management procedures of the executive branch, helps to implement government activities, aids in improving interagency cooperation, and assists in obtaining departmental advice on proposed legislation and in making recommendations to the president regarding such legislation. The agency’s budgetary functions include helping in the preparation and administration of the national budget as well as in the formulation of the government’s overall fiscal program. The Office’s predecessor’s include the Bureau of the Budget, established as a part of the Department of the Treasury by the Budget and Accounting Act of 1921. The Bureau of the Budget was moved to the Executive Office of the President in 1939.

Funk & Wagnalls New World Encyclopedia - Accession Number: ma028200