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Announcements

  • 2023

  • 2022

    • Fiscal Year 2024 Proposed Fringe Benefit Rates for Sponsored Projects

      December 09, 2022

      Read More

    • Fiscal Year 2022 Accrual and Deferral Process

      April 28, 2022

      The handling of pre-paid expense deferrals and expense accruals will be consistent with the last six fiscal years.  General Accounting processes all prepaid expense deferrals and accruals for all of Drexel University and its subsidiaries.

      Read More

    • Fiscal Year 2022 Year End Closing Schedule

      April 28, 2022

      In preparation for the 2022 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.

      Read More

    • Academy of Natural Sciences FY'23 Provisional Indirect Cost Rate

      April 18, 2022

      The Academy of Natural Sciences has finalized its negotiation of its indirect cost rates for grants, contracts, and other agreements with the federal government effective July 1, 2022, through June 30, 2023. 

      Read More

    • Journal Entry Workflow 3.0 Virtual Training

      April 18, 2022

      The Office of the Comptroller will be hosting a Journal Entry Workflow 3.0 virtual training session just in time for fiscal year-end close.

      Read More

    • Fiscal Year 2023 Approved Fringe Benefit Rates for Sponsored Projects

      March 08, 2022

      The full-time employee rate captures all full-time, benefit-eligible faculty and professional staff.  Post-doctoral students hired as full-time professional staff are also included in the full-time employee rate.  This group is considered one rate pool because they are all eligible for the same benefit offerings. 

      Read More

    • Update on Equipment Inventory With Asset Services

      February 17, 2022

      In preparation for the asset verification, an individual survey will be sent to each fixed asset custodian on Monday, February 21, 2022, with a link to identify dispositions and/or confirm equipment.  The email will be sent from DrexelInv@AssetServices.com.  Drexel IT has added this email address to the safe senders list, but if you are receiving this notice and do not receive an email from DrexelInv@AssetServices.com on Monday, please check your junk mail folder. 

      Read More

    • National Institutes of Health Salary Cap Increase

      February 14, 2022

      The National Institutes of Health (NIH) has increased the NIH Salary Cap for Executive Level II to $203,700, effective January 2, 2022. The salary cap is a mandated provision of Congress that limits the amount of direct salary that can be charged to an NIH grant or contract. Salaries above the $203,700 limit must be allocated to the impacted grants cost share fund (281XXX).

      Read More

    • Full Physical Equipment Inventory Begins January 24, 2022

      January 06, 2022

      Fiscal year 2022 (FY'22) 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. 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 in January 2023 based on the financial activity of FY'22.

      One of the major base year requirements is conducting a physical equipment inventory of all fixed assets.

      Read More

  • 2021

    • FY23 Proposed Fringe Benefit Rates on Sponsored Projects

      December 13, 2021

      Drexel University has submitted the fringe benefit proposal to the U.S. Department of Health and Human Services (DHHS) to establish the fiscal year 2023 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.  It is anticipated that the University will not receive the approved, final rate letter for at least three to six months.  Therefore, you should begin to utilize these proposed rates on any proposal submissions that will have salary and wages after July 1, 2022, to ensure that you have budgeted adequate funding.  Coeus and Banner have been updated to reflect the new proposed rates effective July 1, 2022.

      Read More

    • Change to Effort Reporting Requirements

      December 13, 2021

      Effective for the Fiscal Year 2022 Quarter 2 (FY22Q2) effort reporting certification period, which will be released on January 17, 2022, the University will no longer require effort report certification for those grants that are fully funded by unrestricted, private, industry, foundations, or internal (Drexel) funding, and for which the sponsor does not require effort reporting.

      Read More

    • Journal Workflow 3.0 Launching This Week

      September 20, 2021

      I am pleased to announce that Journal Workflow 3.0 is being put into production by Wednesday, September 15, 2021. This new version is a major release and will allow the University Community to perform in-year budget transfers.

      Read More

    • Updated Clinical Trials Indirect Rate

      August 06, 2021

      Based on a review of current indirect costs applicable to industry sponsored clinical trials, it has been agreed to increase the rate from 30% to 35% retroactive to April 1, 2021.

      Read More

    • Introducing Multi-year Encumbrances for Externally Sponsored Research Funds

      June 07, 2021

      We are pleased to announce the launch of the multi-year labor encumbrance feature for externally sponsored research funds in Banner and Web*Finance beginning in July 2021 for FY’22.  Multi-year labor encumbrances are a feature in Banner that allows labor (salary and fringe) to be encumbered through the budget period end date on an award.  Currently, the system only calculates the encumbrance through June 30th of any fiscal year, regardless of the budget period end date on the award.  As those of you in the research community are aware, externally sponsored grants do not always follow a fiscal year and can have an end date of any month in the calendar.  Implementation of this feature will allow for improved financial administration of an externally funded award since your labor encumbrances will now match the corresponding budget period. 

      Read More

    • Reminder - Fiscal Year 2021 Exempt Leave Report Deadlines

      June 07, 2021

      Each year, as part of the fiscal year-end process, we ask that you complete and submit any exempt leave reports that remain outstanding for prior reporting periods. All exempt leave reports for the fiscal year must be completed to ensure that time-off balances are correct, since the balances are used in calculating the University’s vacation and sick liability for our financial statements.

      Read More

    • Fiscal Year 2021 Exempt Leave Report Deadlines - July 2020 to April 2021

      May 10, 2021

      Each year, as part of the fiscal year-end process, we ask that you complete and submit any exempt leave reports that remain outstanding for prior reporting periods. All exempt leave reports for the fiscal year must be completed to ensure that time-off balances are correct, since the balances are used in calculating the University’s vacation and sick liability for our financial statements.

      Read More

    • Fiscal Year 2021 Accrual and Deferral Process

      May 07, 2021

      The handling of pre-paid expense deferrals and expense accruals will be consistent with the last five 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.

      Read More

    • Fiscal Year 2021 Year-End Closing Schedule

      May 01, 2021

      In preparation for the 2021 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 will soon be posted on their website.

      Read More

    • Fiscal Year 2022 Approved Fringe Benefit Rates for the Academy of Natural Science

      April 23, 2021

      The fiscal year 2022 rates for the Academy are now available and listed in the table below; they will be effective beginning July 1, 2021.  The Academy will continue to use the non-sponsored fringe benefit rates for sponsored research. Coeus and Banner have been updated to reflect these updated rates for fiscal year 2022.

      Read More

    • Fiscal Year 2022 Approved Fringe Benefit Rates for Sponsored Projects

      March 10, 2021

      Drexel University has finalized the negotiations of the fiscal year 2022 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, 2021.

      Read More

    • 2020 Philadelphia Non-Resident Wage Tax Refund Petition

      March 10, 2021

      In 2020, the Drexel University Payroll Office took steps to stop deducting the Philadelphia Non-Resident City Wage Tax for all employees who were required to work remotely. However, our office recognizes that in certain situations the tax was deducted while the employee was required to work remotely.   
      For these situations, the employee may submit a request for refund.

      Read More

    • 2020 W-2 Forms Available

      January 22, 2021

      2020 W-2 Forms are now available online in DrexelOne. Go to the Employee Tab, Tax Forms, W-2 Wage and Tax Statement, and select 2020. More detailed instructions are available on the Payroll Department webpage.

      Read More

    • Work Location Certification

      January 12, 2021

      As Drexel University students, faculty and professional staff continue to return to campus, the Office of the Comptroller recognizes that schedules will change regularly and work duties may be performed at different locations. Drexel University is responsible for withholding payroll taxes based on the location(s) where employees work. It is the responsibility of employees to provide accurate and complete information.


      Read More

    • Fiscal Year 2022 Proposed Fringe Benefit Rates for Sponsored Projects

      January 07, 2021

      Drexel University has submitted the fringe benefit proposal to the U.S. Department of Health and Human Services (DHHS) to establish the fiscal year 2022 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. 

      Read More

  • 2020

    • Clarification on Usage and Renaming of Account Code 3673 to "Participant Payments"

      November 30, 2020

      We recently introduced a new account code, account 3673, and it was initially titled “Clinical Trial Incentives”.  Based on feedback from the University community on this account, we have decided to rename the account to “Participant Payments” as it has a broader scope than just clinical trials.

      Read More

    • Introducing New Financial Approver Role – SWR050

      June 17, 2020

      Our new financial approver role stems from feedback from the University community since the introduction of the Journal Entry Workflow.  Many department managers want to allow a team member to have access as a Requestor Plus in Smart Source to make purchases, but DO NOT want that team member to be able to approve journal entries.  As such, Procurement Services, IT, and the Comptroller’s Office have teamed up to provide the SWR050 option.  This role basically works in tandem with SSR050, but when assigned to a user’s security profile will EXCLUDE them as an approver in the Journal Entry Workflow application.

      Read More

    • Exempt Leave Reports Due for Fiscal Year 2020

      June 10, 2020

      Each year, as part of the fiscal year-end process, we ask that you complete and submit any exempt leave reports that remain outstanding for prior reporting periods. All exempt leave reports for the fiscal year must be completed to ensure that time-off balances are correct, since the balances are used in calculating the University's vacation and sick liability for our financial statements.

      Read More

    • Fiscal Year 2020 Accrual and Deferral Process

      April 30, 2020

      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.

      Read More

    • Fiscal Year 2020 Year-End Closing Schedule

      April 27, 2020

      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.

      Read More

    • Fiscal Year 2021 Approved Fringe Benefit Rates for Sponsored Projects

      April 22, 2020

      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.

      Read More

    • Employees with Philadelphia Non-Resident Wage Tax

      April 09, 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.  ​

      Read More

    • Disposal of Fixed Assets Related to Drexel University Physicians

      April 09, 2020

      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.

      Read More

    • National Institutes of Health Salary Cap Increase

      February 07, 2020

      Read More

    • Fiscal Year 2021 Proposed Fringe Benefit Rates for Sponsored Projects

      January 21, 2020

      Drexel University has submitted the fringe benefit proposal to the U.S. Department of Health and Human Services (DHHS) to establish the fiscal year 2021 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.  It is anticipated that the University will not receive the approved, final rate letter for at least three to six months.  Therefore, you should begin to utilize these proposed rates on any proposal submissions that will have salary and wages after July 1, 2020, to ensure that you have budgeted adequate funding.  Coeus and Banner have both been updated to reflect the new rates effective July 1, 2020.

      For fiscal year 2021, the Academy of Natural Sciences (ANS) will continue to use the non-sponsored fringe benefit rates, however, the fiscal year 2021 rates are not yet determined and will be announced when final.  In the meantime, proposal submissions for ANS should utilize the fiscal year 2020 non-sponsored fringe benefit rates for any salary and wages after July 1, 2020. 

      Read More

  • 2019

    • Fiscal Year 2019 - 2023 Facilities and Administration (F&A) Rates for Sponsored Projects Finalized

      November 20, 2019

      We are pleased to announce that Drexel University has finalized its Facilities and Administrative (F&A), or also known as, Indirect Cost rate negotiation with the Department of Health and Human Services’ Cost Allocation Services. The table below outlines the new rates.  This information has also been posted on the Comptroller’s Office website along with the actual PDF of the rate agreement and the rate componentization.  Please note that these rates are strictly applicable to awards made directly to Drexel University.  Awards for the Academy of Natural Sciences are subject to their specific rate agreement.  The Academy of Natural Sciences’ rates for FY 2020 are being finalized and we will communicate their rates separately when finalized.

        

       

      Read More

    • Journal Entry Workflow 2.0 Live Training

      October 28, 2019

      The Office of the Comptroller will be hosting a live training session on the Journal Entry Workflow 2.0. Space is limited to 30 people so register now!

      Read More

    • FY20 Approved Fringe Benefit Rates for Sponsored Projects

      July 08, 2019

      Drexel University has finalized the negotiations of the fiscal year 2020 fringe benefits rates for sponsored projects with the U.S. Department of Health and Human Services (DHHS). The finalized rates are for full-time employees have decreased from 31.9% to 31.7% from the proposed rate. Part-time and DUCOM Highly Compensated Faculty rates remain the same as the proposed rates. Coeus and Banner have both been updated to reflect the new rates effective July 1, 2019.

      For fiscal year 2020, the Academy of Natural Sciences (ANS) will revert to using their non-sponsored fringe benefit rates which are listed below. Proposal submissions for ANS should utilize these rates for any salary and wages after July 1, 2019. Coeus and Banner have also been updated to reflect this change.

      Read More

    • Fiscal Year 2019 Year-End Close Training Videos

      June 04, 2019

      The year-end training video series entitled, Fiscal Year 2019 Year- End Closing: Ensuring a Smooth Transition, has been posted to the Comptroller's Office Training Channel in Microsoft Stream. The training will also be posted early next week in Career Pathway via the DrexelOne portal for any employee who wants to watch the training and also obtain credit for their performance review. Managers can also assign this training in Career Pathway to members of their teams.

      Read More

    • New Fund Numbers for Contributory Sponsored Agreements

      May 14, 2019

      The University and the Academy of Natural Sciences are required to transition to new accounting guidance, Accounting Standards Update 2018-08 - Not-For-Profit Entities (Topic 958):  Clarifying the Scope and the Accounting Guidance for Contributions Received and Contributions Made, by the end of fiscal year 2019. 

      Read More

    • Journal Workflow 2.0 Live Training - Additional Sessions Added at Center City Campus

      May 08, 2019

      The Office of the Comptroller will be hosting six live training sessions on the Journal Entry Workflow 2.0 on the following dates and times in the months of June and July, just in time for fiscal year-end close.

      Read More

    • Lease Accounting Changes for Fiscal Year 2020

      April 29, 2019

      The University must adopt a new accounting standard (Accounting Standards Codification 842 – Lease Accounting) for leases in FY20.  The new lease accounting standard requires all operating leases (building and equipment) to be recorded as a right of use asset and right of use liability.

      Read More

    • Fiscal Year 2019 Accrual and Deferral Process

      April 24, 2019

      The handling of pre-paid expense deferrals and expense accruals will be consistent with the last three 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.

      Read More

    • Fiscal Year 2019 Year-End Closing Schedule

      April 23, 2019

      In preparation for the 2019 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 will soon be posted on their website.

      Read More

    • Fiscal Year 2020 - 120000 Series Fund Migration to 110001

      April 22, 2019

      Over the past several fiscal years, the Office of the Comptroller has worked with various University departments to transition funds that have an unrestricted categorization but do not use fund 110001.  The intent is to eliminate cases (other than fund 110001) were one fund is being used with more than one org or program code combination.  The final wave of this migration is being put in place now so that in FY20 we will have one universal unrestricted fund code.

      Read More

    • Journal Entry Workflow 2.0 Live Training

      April 20, 2019

      The Office of the Comptroller will be hosting three live training sessions on the Journal Entry Workflow 2.0 on the following dates and times in the months of June and July just in time for fiscal year-end close.

      Read More

    • New Grant Portfolio Assignments by Organization/Department

      March 04, 2019

      Effective immediately, 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. The new assignments are organization/department based. The entire list of the new assignments by organization is available on our website along with a downloadable file. The reassignment is due to the expansion of the Post-Award Operations team with four new positions that will allow us to better support the research community by more evenly distributing the grant portfolios.

      Read More

    • Updates to Web*Financials

      February 25, 2019

      Drexel University Information Technology, the Comptroller’s Office, and Human Resources Information Systems have collaborated on some changes to improve the information provided in the Web*Financials applications.

      Read More

    • Account Code Hierarchy and Classification Changes in Banner and WebFinance

      January 11, 2019

      On Sunday, January 27, 2019, during the normal maintenance window for Banner and Web Finance, the account code hierarchy in Banner will be releveled for revenue, expense and transfer accounts.  This enhancement is being implemented to 1) ensure consistency between all charts of accounts, 2) provide an equal number of account levels for all revenue, expense and transfer accounts and, 3) enable the University to automate its financial statements.  The account hierarchy changes in Banner will only impact account roll-ups and will not impact any data enterable account currently being used in any chart.  Please refer to the Comptroller’s Office website for a visual depiction of the new hierarchy.

      Read More

  • 2018

    • FY20 Proposed Fringe Benefit Rates for Sponsored Projects

      December 20, 2018

      Drexel University has submitted the fringe benefit proposal to the U.S. Department of Health and Human Services (DHHS) to establish the fiscal year 2020 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. It is anticipated that the University will not receive the approved, final rate letter for at least three to six months. Therefore, you should begin to utilize these proposed rates on any proposal submissions that will have salary and wages after July 1, 2019, to ensure that you have budgeted adequate funding. Coeus has been updated to reflect the new rates.

      Read More

    • P-Card Purchases on Grants - Updated Procedure

      September 24, 2018

      P-Card cardholders will NOT have to run the SAM database search for their P-Card suppliers as a part of their reconciliation process. Journal entries from non-grant funds to grant funds will also NOT require a SAM database search.  While cardholders may manually reconcile their monthly P-Card transactions to grant funds where appropriate, transactions will not be allowed to automatically default to a grant fund.

      Read More

    • P-Card-Purchases-On-Grants

      September 17, 2018

      Drexel University and the Academy of Natural Sciences are required in their roles as federal government contractors to abide by the Executive Orders 12549 and 12689, 2 CFR part 180.  This regulation restricts awards, sub-awards, and contracts with certain parties that are debarred, suspended, or otherwise excluded from or ineligible for participation in federal assistance activities.

      To prevent unknowingly doing business with a vendor that may be suspended or debarred, Procurement Card (P-Card) transactions are not allowed to automatically default to a grant fund.

      Read More

    • Fiscal Year 2019 Approved Fringe Benefit Rates for Sponsored Agreements

      July 18, 2018

      Drexel University and the Academy of Natural Sciences have finalized the negotiations of the fiscal year 2019 fringe benefits rates for sponsored projects with the U.S. Department of Health and Human Services (DHHS). The finalized rates are lower for all categories than the proposed rates. Coeus and Banner have both been updated to reflect the new rates.

      Read More

    • Fiscal Year 2018 Year-End Close Training Videos

      June 11, 2018

      I am excited to introduce the "Comptroller’s Office Training Channel" which is now available to the entire University in Microsoft Stream. To assist with making a year-end close as smooth as possible, I have recorded a series entitled, “Fiscal Year 2018 Year-End Close: What YOU Need to Know”. The series is broken into seven modules, none of which take longer than 13 minutes. Each module focuses on a key topic related to year-end closing processes. This series also available for registration in Career Pathway in the DrexelOne portal.

      Read More

    • Reminder: Journal Entry Workflow Upgrade

      June 07, 2018

      The Journal Entry Workflow application will be upgraded beginning on the afternoon of Friday, June 8, 2018. The upgraded Journal Entry Workflow 2.0 will be available on Monday, June 11, 2018. Journal Entry Workflow will reflect a downtime status during the migration. After the migration, the old application link will redirect you to Journal Entry Workflow 2.0 application link.

      Read More

    • Exempt Leave Reports for Fiscal Year 2018

      June 06, 2018

      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. All exempt leave reports for the fiscal year must be completed to ensure that time-off balances are correct, since the balances are used in calculating the University’s vacation and sick liability for our financial statements.

      Read More

    • Fiscal Year 2018 Accrual and Deferral Process

      May 05, 2018

      The handling of pre-paid expense deferrals and expense accruals will be consistent with the last two 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.

      Read More

    • Fiscal Year 2018 Year-End Closing Schedule

      May 05, 2018

      In preparation for the 2018 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 will soon be posted on their website.

      Read More

    • Coming Soon: Journal Entry Workflow 2.0

      April 28, 2018

      On Monday, June 11, 2018, Journal Entry Workflow 2.0 will be introduced to the University community.  The new upgraded application has the same look and feel to the end user, but comes equipped with many new features.  In addition, this migration will allow us to house the application on a larger server and prepare for its permanent home as a link in the DrexelOne portal.  If you log into the old application after June 11, you will be presented with a link to the new tool. As of this date, General Accounting and Research Accounting Services will no longer accept paper Transaction Correction Forms or Funding Transfer Forms.  All Journal Entries must be submitted through the Journal Entry Workflow.

      Read More

    • IRS Issues Form W-4 and Withholding Calculator for 2018-Check Your Federal Tax Withholding

      March 02, 2018

      The IRS recently issued a new Form W-4, Employee’s Withholding Allowance Certificate, for use in tax year 2018.

      Due to the tax reform law that was enacted in December, the IRS is encouraging all employees to use the online withholding calculator to perform a “paycheck checkup” to make sure they have the right amount of income tax withheld from their paychecks, according to the news release announcing the new form.

      The Payroll Department cannot advise you on the number of exemptions to claim or calculate “what-if” scenarios.  Ultimately, it is the taxpayer's responsibility to understand the tax system and ensure their tax withholding is correct.

      Read More

    • New Chart of Accounts Elements for American Academic Health System Transactions

      February 03, 2018

      As you are already aware, on midnight January 11, 2018, Hahnemann University Hospital (HUH) and St. Christopher’s Hospital for Children (SCHC) were sold by Tenet Healthcare Corporation to American Academic Health System (AAHS).  As such, it is necessary to delineate any transactions related to AAHS from Tenet for our consolidated financial statements.  Any activity related to HUH or SCHC on Chart D should be recorded using the new accounts described below for activities occurring on or after January 1, 2018.  Revenue and expenditure activity that was not accrued as of December 31, 2017, in the general ledger will have to be recorded using the new AAHS accounts, except for the December 2017 salary and fringe entry related to SCHC.  Also, in trying to continuously improve our chart of accounts, these accounts have been assigned new roll-ups for financial reporting.

      Read More

    • FY 2019 Fringe Benefit Rates for Sponsored Projects

      January 03, 2018

      The University and the Academy of Natural Sciences recently submitted the fringe benefit proposal to the U.S. Department of Health and Human Services (DHHS) to establish the fiscal year 2019 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.  It is anticipated that the University will not receive the approved, final rate letter for at least 3 to 6 months.  Therefore, you should begin to utilize these proposed rates on any proposal submissions that will have salary and wages after July 1, 2018 to ensure that you have budgeted adequate funding.  Coeus has been updated to reflect the new rates.

      Read More

  • 2017

    • We're Moving! Payroll and General Accounting

      December 03, 2017

      The Office of the Comptroller’s Payroll and General Accounting Departments will be moving from their current locations at 3201 Arch Street on the University City Campus to the Bellet Building on the Center City Campus on Wednesday, December 20, 2017.  These offices will be joining their colleagues in Financial Reporting and Research Accounting Services who have already transitioned to the Bellet Building. 

      Read More

    • 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.

      Read More

    • 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.

      Read More

    • 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. 

      Read More

    • 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. 

      Read More

    • 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.

      Read More

    • 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