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Office of Management and Budget (OMB), agency of the U.S. federal government (executive branch). It assists the president in preparing the federal budget and in supervising the budget’s administration in executive agencies. It is involved in the development and resolution of all budget, policy, legislative, regulatory, procurement, and management issues on behalf of the president. The agency also evaluates the effectiveness of, and sets funding priorities for, agency programs, policies, and procedures.

This article was most recently revised and updated by Maren Goldberg.