OMB’s enacted fiscal 2015 budget was $91.75 million and included 457 full time employees. The Office of Federal Financial Management included 15 full time employees. Thus, the Office of Federal Financial Management promulgates much of its policies/requirements and monitors execution through other than Office of Federal Financial Management personnel in OMB.
The controller of the Office of Federal Financial Management shall be the deputy and principal advisor to the deputy director for management in the performance by the deputy director for management of the following functions:
• Provide overall direction and leadership to the executive branch on financial management matters by establishing financial management policies and requirements and by monitoring the establishment and operation of federal government financial management systems.
• Review agency budget requests for financial management systems and operations and advise the director on the resources required to develop and effectively operate and maintain federal government financial management systems and to correct major deficiencies in such systems.
• Review and, where appropriate, recommend to the director changes to the budget and legislative proposals of agencies to ensure that they are in accordance with financial management plans of the Office of Management and Budget.
• Monitor the financial execution of the budget in relation to actual expenditures, including timely performance reports.
• Oversee, periodically review and make recommendations to heads of agencies on the administrative structure of agencies with respect to their financial management activities.
• Develop and maintain qualification standards for agency chief financial officers and for agency deputy chief financial officers.
• Provide advice to agency heads with respect to the selection of agency chief financial officers and deputy chief financial officers.
• Provide advice to agencies regarding the qualifications, recruitment, performance and retention of other financial management personnel.
• Assess the overall adequacy of the professional qualifications and capabilities of financial management staffs throughout the Government and make recommendations on ways to correct problems which impair the capacity of those staffs.
• Settle differences that arise among agencies regarding the implementation of financial management policies.
• Communicate with the financial officers of state and local governments and foster the exchange with those officers of information concerning financial management standards, techniques and processes (31 U.S.C. § 503)
• Additional controller responsibilities include improper payments, membership on the Federal Accounting Standards Advisory Board, simplifying grants management, defining financial reporting requirements, shared services.