Fund, Function and Class Worktag Guide (pdf file)

Definition

The Fund, Function and Class Worktag Guide is a tool created to improve the knowledge and understanding of related worktags and how those worktags are used at Georgia Tech.  This guide provides a grid with the specific related worktag codes (i.e., fund, function, and class) used at the Institute, the purpose of the worktag and an example of the type of driver worktag (i.e., designated, gift, grant, etc.) that should be used with the code.  The grid for the fund worktag also notes if the fund is a carry forward fund or lapsing fund.

When to Use the Guide

The guide should be used when accounting or finance staff members submit a request to the appropriate unit for a new driver worktag (i.e., designated, gift, grant, etc.).  The staff member should review the guide to ensure the fund, function, and class related worktags selected are appropriate for the operations and activities that will be managed via the requested driver worktag. 

Related Worktags

Fund Worktag
This worktag identifies self-balancing transactions based on special regulations, restrictions, or limitations.  Its purpose is to identify and report revenues, expenses, and balances by fund groupings such as State Appropriations, Auxiliary Enterprises, Student Activities, Restricted/Sponsored, Loan, Endowment, etc.  Certain funds not expended or obligated at year-end carry forward into the next fiscal year and are available for use.  Other funds not expended or obligated at year-end lapse to the State of Georgia and are no longer available for operations by the Institute or the University System of Georgia (USG).

Function Worktag
This worktag identifies the general purpose of a transaction, adhering to the National Association of College and University Business Officer (NACUBO) functional classifications. Its purpose is to track and report formally organized and separately budgeted activities for Instruction, Research, Community Services, Auxiliary Enterprises, Student Services, Plant Operations, etc.

Class Worktag
This worktag identifies the specific sources of funds used for recording financial transactions.  Its purpose is to classify and report fund usage by source including State, Restricted/Sponsored, Departmental Sales and Services (DSS), Auxiliary Enterprises, Student Activities, etc.

Questions about the Guide
For questions related to Fund, Function and Class Worktags, please submit a ServiceNow Request.