Budget Overview

• The budget is a financial plan that outlines how the university allocates its resources over a fiscal year. It takes into account the expected income and expenses in order to guide decision making.

• The fiscal year starts on July 1st and ends on June 30th. 

• The annual budget does not roll forward, but starts over each fiscal year. 

• Worktags are used to allocate funds to appropriate areas. 

  • Think of them like buckets! 

  • Each accounting string of worktags corresponds to a specific bucket.

• The important parts of your Accounting String: 

  • Cost Center: CC#### 

  • Fund: FD###

  • Function: FN##

  • Program: PG####

  • Project: PJ####

  • Agency: AG###

• A typical Accounting String looks like this: 

  • CC0057 - FD001 - FN06, where CC0057 is the Cost Center named “Finance & Administration,” the Fund is named “General Fund,” and the Function is named “Institutional Support”

  • ATTENTION: Certain Cost Centers require programs and must be listed!

• Driver worktags can make the required associated worktags auto-populate

  • The driver worktag is usually the cost center, but can also be the program, project, or agency if applicable. 

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Functional Office Contacts for this Page

Simone Lenzini

Budget Director

719-587-7851

Slenzini@adams.edu

Erin Stonebarger

Budget Analyst

719-587-8149

stonebargereg@adams.edu