Foundation Data Model

In Workday, Worktags are labels or attributes that categorize and track financial transactions, making it easy to organize and report on various aspects of financial data. Worktags replace the traditional chart of accounts elements and allow users to attach meaningful information to each transaction. They are intuitive, helping campus users to quickly identify where funds are coming from or going to.

Here are the key worktags used in our Workday system:

Worktag	Definition
Cost Center	Represents and organization of financial responsibility
Gift	Represents annual, current-use restricted, endowment, and capital gifts.
Grant	Represents external private, state, and federal grants with a defined lifespan as well as internal grants such as faculty funds. Allows for life-to-date reporting.
Project	Represents both capital and noncapital projects with a defined lifespan. Allows for life-to-date reporting.
Spend Category	Represents the common language view of expenses paid.
Revenue Category	Represents the common language view of a type of revenue received.