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Santa Fe budget staff walk finance committee through funds, org codes and adjustment process
Summary
City budget staff gave a detailed tutorial to the Finance Committee on Feb. 23 explaining funds, org and object codes, encumbrances, and the difference between t‑bars and bars; staff urged posting cheat sheets and the chart of accounts online to improve transparency.
Andy Hopkins, budget staff for the City of Santa Fe, gave the Finance Committee a 15‑minute tutorial Feb. 23 on how the city structures and tracks its budget, saying the annual budget is a “program and policy road map” while the annual comprehensive financial report summarizes actual revenues and expenses from the prior year.
Hopkins outlined key terms elected members hear in budget discussions: encumbrances (monies committed through contracts and purchase orders), funds (the city’s basic financial unit that keeps restricted revenues separate), org codes (7‑digit identifiers that combine fund…
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