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2021

  • December

    • 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.

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    • 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.

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  • September

  • August

    • 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.

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  • June

    • 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. 

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    • 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.

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  • May

    • 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.

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    • 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.

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    • 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.

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  • April

  • March

    • 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.

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    • 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.

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  • January

    • 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.

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    • 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.


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    • 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