Notes to SEFA
Accounting Policies: Note 1: General
The accompanying schedule of expenditures of federal awards (the “Schedule”) includes the federal grant activity
of ArtistYear under programs of the federal government for the year ended June 30, 2024. The information in
this schedule is presented in accordance with requirements of the Title 2 U.S. Code of Federal Regulations Part
200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards (“Uniform
Guidance”). Because the schedule presents only a selected portion of the operations of ArtistYear, it is not
intended to and does not present the financial position, changes in net assets or cash flows of ArtistYear.
Note 2: Basis of Accounting
Expenditures reported on the Schedule are reported on the accrual basis of accounting. Such expenditures are
recognized following the cost principles contained in the Uniform Guidance wherein certain types of expenditures
are not allowable or are limited as to reimbursement. Pass-through entity identifying numbers are presented
where available.
ArtistYear has elected not to use the 10-percent de minimis indirect cost rate allowed under the Uniform
Guidance.
Note 3: Subrecipients
ArtistYear does not have subrecipient expenditures.
De Minimis Rate Used: N
Rate Explanation: ArtistYear has elected not to use the 10-percent de minimis indirect cost rate allowed under the Uniform
Guidance.