The Office of Management and Budget (OMB) (2/3 Central Agencies) is an agency within the Executive Office of the President, has broad financial management powers, as well as the responsibility of preparing the _____________________.Other duties include:-To apportion enacted appropriations among the agencies and establish reserves in anticipation of cost savings, contingencies, and so on-To set forth the requirements for accounting and reporting on budget execution-To prescribe the form and content of financial statements consistent with applicable accounting principles, standards, and requirements-To provide guidance on all matters related to budget preparation and execution

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