Colby College Accounting Structure
A Colby “account number” consists of 3 or 4 parts: Fund.Center.Object.Project – 02.1234.6578.9012
- Fund: Two digit number usually 01, 02, 04 etc ~ ie: 01 (Unrestricted current fund/general budget), 02 (Restricted Current Fund/grants etc), etc
- Center: Four digit number that determines ownership of the account – every department/group has a different center
- Object: Four digit number that classifies the expense – 6100: travel, 6190: food & entertainment, 6512: office supplies, etc.
- Project: Four digit number used ONLY for restricted funds starting in 02, 04, etc – NOT to be used when using an 01 fund – that further describes the source of the restricted fund
Each department has a set operating budget each fiscal year. The chair of a department is responsible for maintaining the operating budget and stay within the dollars given.
If you have any questions or corrections, please contact Scott Smith. x4123