§504 Office of Federal Financial Management

Summary

An Office of Federal Financial Management is created inside the Office of Management and Budget. The Deputy Director for Management will direct and oversee it. The office must carry out the financial management duties listed in section 503(a). A Controller will lead the office. The President appoints the Controller with the Senate’s approval. The Controller must have proven skills in accounting, financial systems, and financial management, plus extensive experience running finances for large government or business organizations. The Controller is the deputy and main advisor to the Deputy Director for Management on the duties in section 503(a).