Keyword Analysis & Research: osbm

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Frequently Asked Questions

What is OSBM’s role?

OSBM provides technical assistance and guidance to agencies in carrying out their delegated responsibilities related to budget execution. OSBM also monitors and considers requests to make budget adjustments within the framework of the State Budget Act, other relevant state and federal legislation, and rules and policies. G.S. 143C-6-1 (a)

What is the osbosbm process?

OSBM emphasizes a budget process that, while operating on a two-year cycle, is much broader in scope and focused on long-term outcomes. Key steps in the budget development process are: Distributing budget instructions to state agencies for submitting budget requests. Developing agency requests. Preparing the Governor's Recommended Budget.

How does OSBM determine the recommended budget?

OSBM also develops tax policy recommendations to determine the funding levels available to support the State’s biennial budget. The Governor makes decisions about spending priorities and the total size of the Recommended Budget. Executive review of the budget begins after an agency submits its budget requests to OSBM.

Do all governmental and proprietary funds require OSBM approval?

, all Governmental and Proprietary Funds will be presented to the General Assembly in the Governor’s Recommended Budget and certified by OSBM. Budget requests for fiduciary fund codes generally do not require OSBM’s approval. However, agencies must continue to: Maintain budgets. Process internal budget revisions (Type 14).

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