General Accounting at Colby

A Colby “account number” consists of 3 or 4 parts:
Fund.Center.Object.Project (if necessary) – 02.1234.6578.9012

• Fund: Two digit number usually 01, 02, 05 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. (see below for short list of commonly used object codes)
• Project: Four digit number used ONLY for restricted funds starting in 02, 05, 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, that does NOT rollover if underspent. The chair of a department is responsible for maintaining the operating budget and staying within the dollars given.

If you have any questions or corrections, please contact Scott Smith x4123