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2020

  • June

    • 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.

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    • 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.

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  • April

    • 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.

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    • 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.

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    • 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.

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    • 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.  ‚Äč

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    • 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.

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  • February

  • January

    • 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. 

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