Federal Financial Management Standards
- Functions and Activities
Budget Setup and Maintenance (FFM 010.010)
Establish and maintain budgetary resource reporting attributes;
Receive agency spend and operating plan;
Establish and maintain appropriated fund subdivisions before any of the appropriated funds are expended, according to OMB apportionments and agency spend and operating plan;
Set up the funds control structure, levels, and accounting segments;
Record the Treasury Accounting Fund Symbol (TAFS)/ Program/ Project/ Activity (PPA) information and organizational information for allotment and allocation;
Includes setting up direct, reimbursable, revolving, contract, borrowing, financing, liquidating, advanced appropriation, anticipated collections, and nonexpenditure transfer funds;
Includes recording appropriation warrants, apportionments, allotments, allowances, allocations, reapportionments, transfer allocations, continuing resolutions, rescissions, and reprogramming actions
Fund Allocation Control (FFM 010.020)
Implement controls designed to detect or prevent overspending for defined accounting segments;
Execute statutory limitation control of funds restricting obligations and expenditures to amounts authorized by law;
Execute administrative control of funds restricting obligation and expenditure from each account to the lower of the amount apportioned by OMB or the amount available for obligation and/or expenditure;
Update funds control rules
Budgetary Reporting (010.030)
Perform budgetary resource and budget execution analysis;
Provide cumulative budgetary resource and budget execution reports to governing financial management authorities (e.g. OMB);
Provide reports of impacts from unusual events, such as sequestration, rescission, and deferrals;
Provide reports on Antideficiency Act violations; Includes generating SF132 and SF-133 and providing information needed for Budget Formulation;
Verify required budgetary reports (e.g., SF-133) and general ledger account balances can be traced to appropriate supporting documentation
- Federal Financial Management System Requirements (FFMSR)
Recording Budget Authority (2.1.1)
Provide budgetary resource reporting attributes (for example, Treasury Account Fund Symbol, expired, and unexpired) consistent with the budget execution activities as defined in OMB Circular No. A-11.
Determine appropriated fund subdivisions, apportionments, reapportionments, and allocations before any of the appropriated funds are expended consistent with the budget execution activities as defined in OMB Circular No. A-11.
Provide budgetary authority and resource data required to post GL transactions consistent with USSGL transaction codes, transaction categories (for example, funding) and transaction subcategories (for example, budgetary resources other than collections) as defined in the TFM.
Recording Budget Obligations and Outlays (2.1.2)
Execute administrative control of funds consistent with OMB Circular No. A-11 to restrict obligation and expenditure from each account to the lower of the amount apportioned by OMB or the amount available for obligation and/or expenditure.
Execute statutory limitation controls restricting obligations and expenditures to amounts authorized by law consistent with OMB Circular No. A-11.
Provide budget obligation and outlay data required to post GL transactions consistent with USSGL transaction codes, categories (for example, funding), and subcategories (for example, budgetary resources other than collections) as defined in the TFM.
Reporting Budgetary Resources and Budget Execution (2.1.3)
Provide budgetary resource and budget execution data as specified in the TFM to support the budget reporting activities defined in OMB Circular No. A-11, OMB Circular No. A-136, and the FASAB Handbook.
- Office of Management and Budget (OMB)
The Office of Management and Budget carries out its mission through five critical processes that are essential to the President’s ability to plan and implement his priorities across the Executive Branch:
Budget development and execution.
Management, including oversight of agency performance, human capital, Federal procurement, financial management, and information technology.
Regulatory policy, including coordination and review of all significant Federal regulations by executive agencies.
Legislative clearance and coordination.
Executive Orders and Presidential Memoranda.
This page was last updated on July 09, 2021.