NACUBO Functional Classifications


The university, as a higher education institution, uses classification codes for new and existing accounts to ensure that expenditures are posted to correctly.

National Association of College and University Business Officers (NACUBO) created these classifications in order to standardize the reporting across colleges and universities.

NACUBO Functional Classifications help the university:

  • Ensure accurate and consistent expense classification
  • Measure and benchmark against peer institutions
  • Drive cost efficiency
  • Provide reliable internal and external reporting

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