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Function Codes

Function is used to classify the University’s expenditures in multiple ways. The classifications are necessary to report the activity to the Federal government, sponsors and for financial statement preparation. Function is also used to calculate the University’s Facilities & Administrative cost rates (formerly indirect cost rates) per the Office of Management and Budget Uniform Administrative Requirements, Cost Principles, and Audit Requirements, for Federal Awards, 2 CFR 200 ( Uniform Guidance).  [External Site] Function Codes are the key to reporting the University’s expenditures to the Federal government in a consistent and comparable way.