39.3k views
5 votes
Which primary management responsibility includes the process of comparing the budget to actual results?

User Shekhar
by
8.2k points

1 Answer

2 votes

Final answer:

The process of comparing the budget to actual results is a management responsibility known as budgetary control or financial oversight, which ensures resources are used effectively within budget constraints.

Step-by-step explanation:

The primary management responsibility that includes the process of comparing the budget to actual results is known as budgetary control or financial oversight. In the context of the Office of Management and Budget (OMB), this activity involves detailed examination and analysis of how funds are being spent compared to the budgeted amounts. This process ensures that federal agencies are using their resources effectively and staying within their fiscal constraints. It is a key facet of managerial accountability, where managers are held responsible if they are not meeting expectations regarding budget management.

For example, during financial reviews, a supervisor might notice discrepancies in a report and ask an employee to reevaluate the numbers to ensure they align with the allocated budget, as illustrated in the statement: "Jane, this report looks great, but some numbers seem a bit off. Would you mind reviewing it again?"

User Sajjan Sarkar
by
8.8k points