This article summarizes the findings of a case study on the creation and application of an activity-based cost accounting model that links community college salary expenditures to mission-critical practices within academic divisions of a southern California community college. Although initially applied as a financial management tool in private enterprise, higher education scholars have recently explored the relevance of activity-based costing (ABC) procedures as a means of responding to demands for increased fiscal accountability and efficiency in postsecondary institutions. This case study builds upon previous higher education cost-accounting scholarship by situating the research in the community college sector and by incorporating management and classified staff in the activity and cost analyses. The research design and findings described in this article illustrate the utility of activity-based costing procedures as a means of identifying what it costs a community college to perform a variety of institutional activities. The article concludes with a discussion of implications for practice and strategies for integrating activity-based cost accounting into existing assessment, evaluation, and strategic planning initiatives. (Contains 1 table and 1 figure.)