OMB POLICY STATEMENTS
OMB Pushes For Budget and Financial Consolidation and Cooperation
The Office of Management and Budget is encouraging the budget and financial management communities to cooperate as both move to consolidate and standardize under lines of business initiatives.

Under the Budget Formulation and Execution Line Of Business consolidation initiative, a working group has identified intersections between budgeting and financial management processes in an exposure draft of a Touch-Points document, he said. The group currently is mapping budget execution processes and data flow among agencies, the Treasury Department, OMB and Congress. The goal is to reach a governmentwide consensus process and data model to support the automated data exchange between budget execution and financial management systems.