§504 Office of Federal Financial Management

Summary

Creates an Office of Federal Financial Management inside the Office of Management and Budget. The office works under the Deputy Director for Management and must carry out the financial management duties listed in section 503(a). The office is led by a Controller who the President appoints with Senate approval. The Controller must have proven skills and hands-on experience in accounting, financial management, and financial systems, plus extensive experience running finances for large government or business organizations. The Controller is the deputy and main adviser to the Deputy Director for Management for the duties in section 503(a).