The focus of the Budget Formulation and Execution Line of Business (BFE LoB) is to continue to build a "budget office of the future" by promoting information sharing across government agency budget offices. The BFE LoB's goals include improvement and enhancements of
- Efficiency and effectiveness of agency and central processes for formulating and executing the Federal Budget;
- Integration and standardized exchange of budget formulation, execution, planning, performance measurement, and financial management information and activities across the government;
- Capabilities for analyzing budget formulation, execution, planning, performance, and financial information in support of decision-making;
- Capabilities for aligning programs and their outputs and outcomes with budget levels and actual costs to institutionalize budget and performance integration; and
- Efficiency and effectiveness of the Federal budgeting workforce.
BFE LoB will provide the following solutions:
- Technology solutions: providing tools and services agencies can use to enhance budgeting; analysis; document production; data collection, and tracking; and secure collaboration and online meetings, including the infrastructure through which improved processes or tools and services are delivered in the most efficient and cost-effective manner to Government personnel.
- Human Capital solutions: sharing best practices for all budgeting activities; identifying training and educational opportunities; and communicating core competencies for budget analysts along with career path options.
- Governance solutions: providing for year-round coordination via a program management office; furthering the idea of sharing and reuse; and setting standards for data and data exchange.