It's that time of year when federal agency managers are dealing with three budgets at once. They're planning for end of year 2012 activities. They're awaiting Congress on the 2013 final budget. And they're preparing submissions to the Office of Management and Budget for their 2014 budgets.

Federal News Radio wanted to know about the latest thinking and best practices in budget preparation and financial management — especially in hard-to-predict times like these.

Panelists were:

• Owen Barwell, Managing Director, Global Public Sector, Grant Thornton LLP, and former Chief Financial Officer at the Energy Department

• Nani Coloretti, Acting Assistant Secretary for Management & Deputy Assistant Secretary for Management and Budget, Treasury Department