"To provide strategic direction and financing alternatives to guide the prudent allocation of limited resources within the policy framework set by the Governor and to accurately implement and reflect the results of those decisions and subsequent financial transactions in the State budget, in the State’s accounting system and in the State's comprehensive annual financial report."
Specifically, The Office of Management and Budget (OMB) performs
the following functions:
- Coordinates the annual agency-based planning process, identifies and projects trends affecting the demand for services, provides information and planning support for the process of allocating available financial and human resources and evaluates strategic and long-term issues.
- Assesses budget needs, based on studies of State fiscal requirements, ongoing monitoring of agency spending patterns and on official requests for appropriations by State agencies. Formulates the annual budget submitted by the Governor to the Legislature.
- Develops and reviews State agency responses on proposed State and federal legislation and regulations to ensure that the broad State interest and fiscal policy is taken into account.
- As a resource to the Commission on Capital Budgeting and Planning, provides analysis and planning for the State’s capital budget, including the evaluation of capital construction projects, research into financing options, and relative ranking of priority needs across departments.
- Provides for the receipt, processing, recording and reporting of all financial data of the State’s various funds, in accordance with existing statutes and generally accepted accounting principles.
- Develops procedures, revises accounting systems, enhances accounting controls and monitors financial activities of various State agencies.
- Responsible for assuring that State employees are paid accurately and on a timely basis.