Full Physical Equipment Inventory Begins January 20, 2026

Fiscal year 2026 (FY26) is considered a base year for developing the facilities and administrative (F&A) rate proposal for submission to the Division of Cost Allocation (DCA) of the Department of Health and Human Services (DHHS). The F&A rate proposal is the tool used to set the indirect cost rates for the University. Our proposal is required to be submitted to DCA by December 31, 2026, based on the FY26 financial activity.

One of the major base-year activities is conducting a physical equipment inventory of all fixed and moveable equipment owned by the University. The University has engaged Maximus and Inventory-ID (formerly Asset Services) to assist with this important part of the proposal. Maximus will function as the project manager and develop and negotiate the rate proposal. Inventory-ID will be on site to complete the full physical equipment inventory. Representatives from Inventory-ID will be on campus to complete the inventory beginning on Tuesday, January 20, 2026. It is anticipated that they will be on site through the end of February 2026. Inventory-ID will place tags on any equipment that does not have the current bar code inventory tag.

Drexel's Real Estate and Facilities is currently coordinating the approximate timeline of what buildings will be inventoried during the six-week period that Inventory-ID is planning to be onsite. They will be reaching out to coordinate with a representative from your school, college or department that has access to the assets in your space to schedule the inventory of your space. You or someone on your team will need to be physically present on campus to assist with the inventory, especially if your asset is stored in a locked cabinet or room and the departmental representative does not have access. The length of time they will be visiting your location will be kept as brief as possible but will vary depending upon the amount of capital equipment in your space. We will be posting the timeline on our website approximating the timeframe that the Inventory-ID team will inventory each building. We will communicate to you again when the timeline is finalized and posted.

General Accounting will utilize the data collected by Inventory-ID as the annual fixed asset confirmation. The Fixed Asset Confirmation Tool will be available and updated with as much of the data updates as possible from Inventory-ID by July 2026, but confirming assets in the Fixed Asset Confirmation Tool will be optional during the FY26 fiscal year-end close.

The Office of the Comptroller will be communicating information related to this and other base year activities through its listserv and website.

If you have any questions or concerns regarding the upcoming physical equipment inventory, please do not hesitate to contact me at pjr27@drexel.edu.

Thank you for your cooperation.