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2022

  • April

    • 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.

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    • 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.

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    • 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. 

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    • 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.

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  • March

    • 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. 

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  • February

    • 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. 

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    • 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).

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  • January

    • 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.

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