Certified Government Financial Manager (CGFM) Practice Exam

The Office of Management and Budget (OMB) is the entity responsible for overseeing the apportionment of budgetary authority in government. The OMB plays a critical role in the federal budget process, as it is tasked with ensuring that federal agencies spend their appropriated funds in alignment with the budget established by Congress. Apportionment involves distributing the budgetary resources to various government agencies and programs in a way that adheres to the overall fiscal policy and priorities set by the administration. The OMB manages this distribution to prevent overspending and ensure that appropriated funds are available as intended throughout the fiscal year. By doing so, the OMB helps maintain fiscal discipline within the government and provides guidance to agencies on spending levels and timelines. In contrast, Congress is responsible for passing the budget and appropriations bills but does not oversee the day-to-day management of budget execution. GAO (Government Accountability Office) serves as a watchdog for financial accountability and reporting, conducting audits and evaluations of government spending, but it does not directly handle apportionment. The Department of Treasury manages the government's finances, including revenue collection and debt management, but it is the OMB that focuses on the oversight of budgetary authority allocation across federal entities.