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Announcements

  • 2017

    • New Payroll Check Design Coming Soon!

      August 03, 2017

      The Payroll Department will soon be issuing a different kind of check for those employees who do not receive direct deposit.  The new checks will look slightly different than the current version but will contain all the same information.  They will be printed on standard-sized check stock and will be mailed in window envelopes rather than the self-sealing forms with perforated edges that are currently used.  Of course, we encourage all employees to participate in direct deposit, the easy way to make sure your pay is in your bank account on pay day.  To sign up for direct deposit, please submit a direct deposit form [PDF] to the Payroll Department for processing.  Direct deposit instructions and directions for submitting your form to Payroll using AskDrexel [PDF] are available on our website.

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    • Update on Grant Close-out Backlog Clean-up Initiative

      August 01, 2017

      Since the announcement on April 10, 2017, Research Accounting Services (RAS) has worked with the University community to resolve 332 of the 632 close-outs relating to Fiscal Year 2016 and prior, and will continue to clear this backlog by Friday, August 18, 2017.  RAS continues to need the full cooperation of Principal Investigators (PIs) and Departmental Administrators to complete the backlog by this deadline and move the University towards full compliance with Uniform Guidance and the Cost Transfer and Effort Reporting Policies.

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    • Final Deadlines for Fiscal Year 2017 Year-End Close-out

      August 01, 2017

      There are final deadlines for Fiscal Year 2017 year-end close-out, to ensure that all activities are properly recorded.  Please review and circulate this information so that everyone is familiar with the guidelines and important deadlines. 

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    • Fiscal Year 2018 Fringe Benefit Rates for Sponsored Projects

      July 25, 2017

      Drexel University recently completed negotiations with the U.S. Department of Health and Human Services to determine the fringe benefit rates for fiscal year 2018. This agreement will support our claim for fringe benefit reimbursement on grants and contracts.  These rates will automatically be applied to salaries charged to grants beginning July 1, 2017. 

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    • Exempt Leave Reports Due for Fiscal Year 2017

      June 16, 2017

      As part of the fiscal year-end process, we ask that you complete and submit all exempt leave reports that remain outstanding for all reporting periods within the fiscal year. Please review your exempt leave reports for each month from July 2016 through June 2017 to make sure that they have been submitted and approved. All reporting periods, including the current reporting period for June 2017, are open for you to create, complete and submit your outstanding leave reports until Tuesday, June 20, 2017. If you experience any problems creating or submitting your current leave reports, contact Payroll.

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    • Reminder: Fixed Asset Confirmations

      May 30, 2017

      As previously communicated, the University has engaged Duff and Phelps to inventory equipment in 12 buildings (posted on our website) that have significant research activity as part of the Facilities and Administrative rate proposal.  Please review the information in the Fixed Asset Confirmation Tool by Friday, July 28, 2017, with emphasis on evaluating if the assets have been disposed since the last confirmation. Duff and Phelps will only confirm existence and current location of an asset. A list of frequently asked questions about the Fixed Asset Confirmation Tool has been posted to our website.


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    • Fiscal Year 2017 Accrual and Deferral Process

      May 27, 2017

      For the fiscal year 2016 close, the Comptroller's Office refined the methodology of handling the amortization of prepaid expense deferrals and the year-end accrual process. Both of these changes stem from feedback from the University community solicited after the completion of the fiscal year 2015 close-out.  The fiscal year 2017 close will utilize the same methodology as fiscal year 2016.

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    • Fiscal Year 2017 Year-End Closing Schedule

      May 11, 2017

      In preparation for the 2017 fiscal year-end close, the following guidelines and calendar outline the standard closing requirements. Please review and circulate this information so that everyone is familiar with the guidelines and important deadlines. This will assist in making the year-end closing process more efficient.  Procurement Services' year-end information is posted on their website.

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    • Physical Equipment Inventory and Annual Fixed Asset Confirmations

      May 11, 2017

      As previously communicated on April 17, 2017, the University has engaged Duff and Phelps (formerly American Appraisal) to inventory equipment in 12 buildings that have significant research activity. Duff and Phelps has been on campus since Monday, May 1, 2017 completing this inventory for the Facilities and Administrative rate proposal.  The list of buildings and the estimated dates that Duff and Phelps will complete the inventory are posted on our website. 

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    • Close-out Backlog Clean-up Initiative

      April 10, 2017

      Research Accounting Services (RAS) is conducting a concerted team effort to eliminate the backlog of close-outs for awards with project end dates of June 30, 2016, and prior by the end of the fiscal year 2017 close. We need the full cooperation of Principal Investigators (PIs) and Departmental Administrators to complete the backlog by this deadline. Completing this initiative will move the University towards full compliance with Uniform Guidance and the Cost Transfer and Effort Reporting Policies.

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    • New Grant Portfolio Assignments by Organization Department

      April 03, 2017

      Research Accounting Services (RAS) has reassigned its grant portfolio assignments to each manager and research accountant that is part of the Post-Award Operations team.

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    • NIH Salary Cap Increase 2017

      March 22, 2017

      The National Institutes of Health (NIH) has increased the NIH Salary Cap by 1% to $187,000 effective January 8, 2017. The salary cap is a mandated provision of Congress that limits the amount of salary that can be charged to an NIH grant or contract.

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    • Procedural Change to Industry Sponsored Clinical Trials

      February 02, 2017

      As part of the Campaign to Improve Research Administration Effectiveness (CIRAE), the Office of Research and Research Accounting Services are reviewing processes and procedures to improve efficiency and reduce administrative burden. One area where redundancies were found was the process for submitting industry sponsored clinical trial proposals.

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    • Fiscal Year 2018 Fringe Benefit Rates for Sponsored Projects

      January 17, 2017

      The University recently submitted its fringe benefit proposal to the U.S Department of Health and Human Services (DHHS) to establish the fiscal year 2018 fringe benefit rates for sponsored projects.  These rates are not final until we receive the official rate letter from DHHS, however, we do not expect any significant changes when they are finalized.

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    • Facilities and Administrate Rate Proposal

      January 17, 2017

      The Facilities and Administrative (F&A) rate proposal is one of significant financial importance to the University as it seeks to grow its research enterprise.  An increase of 1% in the University’s rate can equate to approximately $200K to $300K in overhead recovery per year on a permanent basis.

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  • 2016

    • Updated Advance Grant/Fund Numbers and Grant Billing Module

      July 20, 2016

      This past week, the Banner Grants Billing module went live for our largest federal agencies that use the Payment Management System (Department of Health and Human Services, National Science Foundation, and Department of Education).  For the period beginning July 1, 2016, to July 13, 2016, we drew down funds over $3.5 million, including $2.5 million of federal student loan funds.  Going forward, these agencies will be drawn at least once per week.  All other agencies will be billed monthly or on the schedule dictated by the award notice. 

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    • New Hyperion Report:  Credit Split and Indirect Cost Detail Report

      July 06, 2016

      The Finance Competency Center has developed a new Hyperion report entitled “Credit Split and Indirect Cost Detail” to assist the University research community in analyzing indirect costs. 

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    • Journal Entry Workflow Training

      June 20, 2016

      Beginning the week of June 27, 2016, the Journal Entry Workflow will be expanded to include non-budget, non-research journal entries.  The tool can be used for journal entries relating to FY2016 or FY2017.  FY 2016 journal entries need to have a 6/30/2016 transaction date.  FY2017 journal entries must use a transaction date of July 1, 2016, or later.  The workflow will default to the current date. We encourage you to use this tool to submit transaction corrections, clear deficits and fund cost share funds. 

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    • Fund 110100 and DUO Designated Funds Transition

      June 20, 2016

      Effective July 1, 2016, the unrestricted fund, 110100, will be phased out and all unrestricted budgets, revenues and expenses previously accounted for in this fund will migrate to fund 110001.  As part of the FY 2016 close-out, General Accounting will transfer any balances in a school's or college’s DUO designated fund and transfer it to that college's respective RCM Over/Under Fund. 

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    • Cost Share Fund Remapping

      June 13, 2016

      Effective immediately, active cost share funds (i.e. ‘28’ funds), in charts D and S, have been detached from their original grant number in Banner. This population of active cost share funds is now tied to their own grant number that begins with a ‘28’. A list of the grants and funds that have been remapped is available on the Comptroller’s Office website to aid you in this transition. The new cost share funds will reference their corresponding sponsored grant number in their title.

       

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    • Facilities & Administrative Rate Agreement – Indirect Cost Rates

      June 06, 2016

      The Department of Health and Human Services (HHS) has approved a one-year extension for filing the Drexel University Facilities and Administrative (F&A) rate agreement. This means that our existing F&A rates as detailed below will remain in effect through June 30, 2018, or until our rate negotiations are finalized with HHS. 

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    • Fiscal Year 2017 Fringe Benefit Rates for Sponsored Projects

      June 05, 2016

      We recently completed negotiations with the U.S. Department of Health and Human Services to determine the fringe benefit rates for fiscal year 2017. This agreement will support our claim for fringe benefit reimbursement on grants and contracts.  These rates will automatically be applied to salaries charged to grants beginning July 1, 2016. 

       

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    • Journal Entry Workflow Tool:  Now Available for Research Journal Entries

      May 06, 2016

      As promised in the communication sent on April 11, 2016, the Journal Entry Workflow Tool is now available to submit non-budget, research related journal entries. You can now submit your own cost share or deficit funding entries and transaction corrections related to externally sponsored funds. The Journal Entry Workflow Tool is currently limited to externally sponsored funds, which are those that begin with a ‘2’, ‘4’ or an ‘8’. Therefore, in order to use the tool at this time, at least one line of the journal entry must include a fund that is research related. Other types of journal entries will be accepted over the next several months.

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    • Year-End Purchasing Information

      May 03, 2016

      Procurement Services would like to announce important procedural information related to the closing out of Fiscal Year 2016 and how to smoothly make the transition into Fiscal Year 2017.

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    • Banner Effort Reporting System Lifts Off!

      April 14, 2016

      Research Accounting Services (RAS) is pleased to announce the launch of the new Banner Effort Reporting System on April 25th, 2016.  The Banner Effort Reporting System works in tandem with the Banner Self- Service Labor Redistribution System managed by HRIS.  Both systems will be used for all Drexel University Schools and Colleges and the Academy of Natural Sciences.  The Maximus Effort Reporting System (ERS) will still be utilized for all effort reporting adjustments for any period ending on or before December 31, 2015.

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    • Coming Soon: Journal Entry Workflow Tool

      April 11, 2016

      The Comptroller’s Office has developed a new Journal Entry Workflow Tool that will be phased in over the next six months.  The Journal Entry Workflow will allow users in the Drexel University and Academy of Natural Sciences community to submit journal entries, funding transfers, budget adjustments, and transaction corrections to the respective administrative office - electronically

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    • Externally Sponsored Research:  Fund Number Range Expansion and Roll-up Fund Remapping

      April 11, 2016

      The range of funds being utilized for externally sponsored research has been expanded.  The expansion will provide for clearer identification of the funding source and adds the ability to report on contributory sponsored agreements.  Research Accounting Services has been working closely with Corporate and Foundation Relations to ensure grants from foundations and corporations are not classified as restricted gifts when they should be classified as grants.  The redefined series of funds beginning with 21 through 24 will be designated as contributory sponsored agreements to account for contributory sponsored agreements.  Funds starting with 41 through 44 will be classified as the exchange transaction counterparts to the 21 to 24 series.  The 45 through 48 series will be used to track state, state clinical trials, local and industry sponsored clinical trials.  The 8 series of funds will be used to manage federally funded awards.  The entire hierarchy is available for review on the Comptroller’s Office website.

       

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    • National Institutes of Health Salary Cap Increase

      April 06, 2016

      The National Institutes of Health (NIH) has increased the NIH Salary Cap by 1% to 185,100 effective January 10, 2016. The salary cap is a mandated provision of Congress that limits the amount of salary that can be charged to an NIH grant or contract.  Salaries above the $185,100 limit must be allocated to the impacted grant’s cost share fund (281XXX).

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    • Fund Request Form Updated to Handle Internally Funded Research and New Expenditure Authority Levels

      March 06, 2016

      Effective immediately, requests for new funds for internally funded research will utilize the Fund Request Form. Internal competitions for research funding will no longer utilize the Coeus system. This change is being made to make the internal fund set-up process consistent across the institution. Externally funded awards will continue to require a Coeus record to be established in Banner as a grant. The Fund Request Form has been updated to capture additional information needed by Research Accounting to set up the grant in the Banner Research Accounting Module.

       

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  • 2015