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AudraNYCAudraNYC 

Assigning auto number in a formula field

We would like to auto-assign codes to projects based on what type of project it is. Each project type has its own prefix that could be designated in the auto number setup, but I cannot figure out how to combine the two.
 
So for example:
We have 150 events. The prefix for events is EV, so the next event should be coded EV151. 
We have 135 custom projects. Prefix for custom projects is CP, so the next custom project should be coded CP136.
 
We are using campaigns to track both events and custom projects. I would like to have one field have the code in it.
 
Any ideas?