2017

December
- 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.
  
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August
- 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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July
- 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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June
- 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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May
- 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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April
- 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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March
- 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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February
- 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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January
- 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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