April

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.

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. 

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.  

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).