Start of FY24 and Blackout Period: ASRSP will observe a blackout period from Tuesday, September 5th through Friday, September 8th to focus on resolving backlogs and preparation for the new fiscal year. Staff will be on site, however, we will defer non-urgent inquiries and meeting request during this period.
Subcontract Transaction Approval Deadline: Requisitions, purchase order changes, and invoice vouchers that are not fully approved by Friday, September 8th will be closed per the FYE schedule.
Extension of Federal Indirect Cost Rate: Northwestern has received a 3-year extension of the current F&A rate of 60%. This rate will remain in effect for FY24-FY26 (effective dates are 9/1/23 to 8/31/26). The complete rate agreement is available on the ASRSP website.
Equipment: Please review the following key tasks shared on behalf of Accounting Services – Equipment Inventory:
Disposal: Equipment that has been, or will be, physically disposed (e.g., scrapped, sold, or donated) requires completion of an Asset Request via NUFinancials to update accounting records. Submission deadline for FY2023 is Wednesday, September 13th.
Comprehensive information on the disposal or transfer of capital equipment is found here. Disposal and transfer of equipment from sponsored funds will require ASRSP review after the department approval.
Tags: Capital equipment must have a Northwestern University Capital Equipment property tag affixed to it ( example). If your capital equipment is not tagged, please contact Equipment Inventory staff.
Parking Account Codes: According to the FinOps Account Code Guide, all domestic travel on sponsored projects must be charged to 76765 – including parking. The parking account code 73050 is typically used by Parking Services only.
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