Office of Management and Budget (OMB) is an agency within the Executive Office of the President. It has broad financial management powers and prepares the budget for submission to Congress. Its financial management responsibilities include all of the following except... To set forth the requirements for accounting and reporting on budget execution To apportion enacted appropriations among the agencies and establish reserves in anticipation of cost savings, contingencies, etc To prescribe the form and content of financial statement consistent with applicable accounting principles, standards, and requirements To be in charge of cash receipt and disbursement management, including supervising the federal depository system and disbursing cash for virtually all civilian agencies