What does budget code mean in construction?
Short definition
A budget code is a cost tracking code used to connect budgets, commitments, invoices, changes, and forecasts.
Longer explanation
Budget codes often combine cost code, cost type, phase, location, or other segments depending on the accounting setup.
Example in context
“The project team reviewed the budget code during the construction phase.”
Common users
- Owners
- Architects
- Contractors
- Construction managers