Johns Hopkins University Finance Monthly Newsletter
August 2024 | Volume 15 Issue 8
inside this issue:
2024 Fringe Rates
Foreign Activity Reporting for FY24
Department updates are being requested for the University’s International Data Collection Database.
Finance News
Fringe Rates
Fringe benefits (FB) are employee associated costs such as health plan expenses, pension plan expenses and workman’s compensation expenses, among others. These costs are expressed as a rate by employee class. The rate is the pooled costs of these benefits divided by the total salaries in each employee class. These rates are then applied to the applicable employee salary to represent the associated benefits for that type of employee.
Our sponsors will reimburse us for fringe benefit costs, expressed as a percentage of total salaries, as salaries and fringe benefits can represent the largest component of cost on a given project.
Link to Fringe Benefit Rates: https://ca.finance.jhu.edu/fringe-benefit-rates
Link to Rate Agreement: https://ca.finance.jhu.edu/fringe-rate-agreements (recently updated)
Please contact the Office of Cost Analysis if you have any questions.
Foreign Activity Reporting for FY24
The IRS Form 990 requires the University to disclose information about expenses, offices and individuals working in foreign countries. Each year the University collects this information from the various departments via the International Data Collection Database.
You will receive instructions from the Tax Office in early August requesting your updates to the International Data Collection Database and/or confirmation of no international activity during FY24. Database entries should be completed by Monday, September 2nd.
If you have any questions, please contact [email protected].
University Calendar
Communication to JHU Users – Cut-Off Calendar
Key JHU Closing Dates: Please refer to the Online University Finance Calendar for all pertinent communication including University Key Dates.
University Events
University Office of Finance Just Honoring U Employee Recognition Program
The Johns Hopkins University Finance Employee Recognition Program is designed to acknowledge the efforts and contributions of University Finance staff. This program will recognize those employees who have performed above and beyond normal expectations, often defined as “Going the Extra Mile”.
Awards will be made semi-annually. All employees within University Finance are eligible to be nominated and these nominations can come from anyone from the Hopkins community not including the employee’s direct supervisor. While an employee may be nominated each semi-annual period, that employee may only be eligible to win the premium award once per fiscal year.
Recognition of recipients will be done semi-annually at an award ceremony, generally in the months of June and December (submission deadlines are May 1st and November 1st). All recipients, their immediate supervisor, all Finance Directors and the selection committee will be invited to the award presentation and each recipient will be presented with a Certificate of Recognition and a small gift. Additionally, a copy of the written nomination form and Certificate of Recognition will be placed in the employee’s personal file.
Download the nomination form at Just Honoring U Nomination Form. Once you have completed the form, click the “Submit” button at the bottom of the form and follow the directions to email the completed form. You must complete the entire form for it to be considered.
If you have any questions or are unable to access the form, please email [email protected].
Holiday Calendar
The updated holiday calendar for JHU is for 2024. Please note, that the University holiday calendar will now cover three years at a time.
The upcoming 2022-2024 calendar can be seen here.
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