Notes to SEFA
Title: Basis of Presentation
Accounting Policies: Summary of Significant Accounting Policies - The accompanying Schedule of Federal Awards is presented using the accrual basis of accounting.
De Minimis Rate Used: N
Rate Explanation: Institute for Doctoral Studies in the Visual Arts, Inc. has not elected to use the 10% de minimis indirect cost rate allowed under the Uniform Guidance.
The accompanying Schedule of Expenditures of Federal Awards presents the activity of all federal award programs of the Institute for Doctoral Studies in the Visual Arts, Inc. All federal awards received directly from federal agencies as well as federal awards passed through other governmental agencies are included on the schedule. The information in this schedule is presented in accordance with the requirements of the Uniform Guidance. Because the schedule presents only a selected portion of the operations of Institute for Doctoral Studies in the Visual Arts, Inc., it is not intended to and does not present the financial position, changes in net assets, or cash flows of Institute for Doctoral Studies in the Visual Arts, Inc.