April

The handling of pre-paid expense deferrals and expense accruals will be consistent with the last four fiscal years.  General Accounting processes all prepaid expense deferrals and accruals for all of Drexel University and its subsidiaries, except for Drexel University Online (DUO).  Accruals and deferrals for DUO will be handled by DUO Finance.

In preparation for the 2020 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.

Drexel University has finalized the negotiations of the fiscal year 2021 fringe benefit rates for sponsored projects with the U.S. Department of Health and Human Services (DHHS). The finalized rates remain the same as the proposed rates. Coeus and Banner have both been updated to reflect the new rates effective July 1, 2020.

Under the current circumstances, most employees are being asked to work from home.  Therefore, the wages of employees who are working remotely outside the City of Philadelphia are not applicable to City Wage Tax.  ​

As a result of the bankruptcy of Hahnemann University Hospital and the subsequent closure of the Drexel University Physician (DUP) practices, the Office of the Comptroller will be disposing of any fixed assets associated with, or purchased from, a DUP fund/org in the Banner Fixed Asset System.