Quasi-Endowment Update

This email was sent to all deans, directors, and department heads and financial unit liaisons as well as members of BAG and VP-BAG.

Facilities and Administrative Rates for Federal Sponsored Programs

Following is an important update about the university's Facilities and Administrative (F&A) Rate Agreement for federal sponsored programs. 

We recently completed negotiation of a four-year extension to our current rate agreement that continues our existing rates through June 30, 2024.  The extension also allows use of these rates as provisional for periods after June 30, 2024, until our next rate agreement is negotiated.

FAQ for New COVID Program Code

As you know, a new program code—COVID—was created within M-Pathways for units to identify incremental costs (i.e. additional costs above and beyond those expected to be incurred under normal operations) associated with the university's response to the COVID-19 pandemic. In addition, this program code can be used for incremental revenue and revenue adjustments (e.g. refunds).

New COVID Program Code Added to M-Pathways

To assist units in tracking the impact associated with the COVID-19 virus, we have created a new program code, COVID, within M-Pathways.  This new code can be used to identify incremental costs (i.e. additional costs above and beyond those expected to be incurred under normal operations) associated with the university's response to the outbreak.

Update on Strategic Supplier Program

U-M’s Strategic Supplier Program offers the university community pricing discounts on a variety of products and services, including office supplies, lab equipment, and computers. On an annual basis, the program saves units across the university millions of dollars.

Extnl Photography Tax Report

The University of Michigan Tax Report
Sales Tax Summary for February 2024

Reporting begins on Friday March 1st, 2024 and ends on Sunday March 10th, 2024. Unsubmitted reports indicate that the unit did not have taxable sales during the period. Changes to this report after Sunday March 10th, 2024 must be made directly to the Tax Department.

SalesAmount
Gross Sales:3,445.00
Less: Taxes Included in Gross Sales:0.00
Taxable Gross Sales:3,445.00
Allowable DeductionsAmount
Sales for Resale:0.00
Sales to Industrial Processors or Agricultural Producers:0.00
Sales in Interstate Commerce:0.00
Sales to Federal or State Governmental or Political Subdivisions:0.00
Sales to Schools, Hospitals, and Other Qualified Nonprofit Organizations:0.00
Income from Nontaxable Labor or Nontaxable Services:0.00
Returned Goods:0.00
Other:0.00
Other Descr:
 - 
Total Allowable Deductions:0.00
Sales After Deductions:3,445.00
Net Taxable Sales: 3,445.00
Department Charge for February 2024
AccountFund CodeDepartment IDProgramClassProjectAmount
61535040000661250115256100X206.70
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