Office of Management and Budget(OMB)
The Executive Office agency that oversees federal budgeting, procurement policy, and implementation of presidential priorities across the government.
Overview
The Office of Management and Budget (OMB) assists the President in preparing the federal budget and supervises agency budgeting and management. OMB issues policy guidance that affects procurement — including circulars on cost principles, grants management, and regulatory review. It plays a central role in government-wide acquisition policy.
Why It Matters in GovCon
OMB Circular A-76 influences outsourcing decisions. OMB cost principles and grant guidance affect how contractors account for costs. OMB's budget and policy priorities can shift spending toward or away from certain programs and acquisition approaches. Contractors tracking federal trends watch OMB for policy signals.
Key Details
- Circulars: A-76 (competitive sourcing), A-123 (internal control), A-94 (discount rates).
- Budget: Coordinates agency budget submissions and administers apportionment.
- Regulatory: Reviews significant regulations before publication.
- E.O. 14042: OMB has issued guidance on federal contractor vaccine requirements and related matters.
Related Terms
- Federal Acquisition Regulation (FAR)
- Cost Accounting Standards (CAS)
- Circular A-76
- Federal Budget
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