The Budget Formulation and Execution Line of Business (BFELoB) is helping the budget community build a "budget office of the future" by sharing information and best practices across government agencies.

Modern, interoperable, flexible, cost effective, and optimized solutions supporting all phases of the formulation and execution of the Federal Budget and linking budget formulation, execution, planning, performance, and financial information.

1. Improve the efficiency and effectiveness of agency and central processes for formulating and executing the Federal Budget
2. Improve the integration and standardized exchange of budget formulation, execution, planning, performance measurement, and financial management information and activities across government
3. Improve capabilities for analyzing budget, execution, planning, performance, and financial information in support of decision making
4. Enhance capabilities for aligning programs and their outputs and outcomes with budget levels and actual costs to institutionalize budget and performance Integration
5. Enhance the effectiveness of the Federal budgeting workforce

The Budget Line of Business was formed in 2007 at the request of agency budget staff to find common solutions for the different components of the federal budget process. The scope of the BFELoB includes budget formulation, budget execution, planning, performance, and touchpoints for financial management. The Department of Education was named the managing partner and runs the Program Management Office (PMO) for the BFELoB. OMB provides additional support as the lead policy office.

Also in 2007, the budget community formed a task force of agency representatives to discuss opportunities for common budgeting solutions and to identify tools to enhance the agency budget process. It became apparent early on that there are inherent business process and workflow differences across agencies with vastly different missions. To meet agency requirements while respecting these differences, the BFELoB chose to focus on core functional capabilities.

Today, the BFELoB continues to cultivate solutions that link agency budget processes. Areas of particular interest include technology, data collection and tracking, budget execution and financial management integration, and human capital. Agency employees are invited to join the task force and participate in work groups, which oversee the development of tools and processes.