Notes to SEFA
Title: Note 1. Basis of Presentation
Accounting Policies: Expenditures reported on the Schedule are reported on the accrual basis of accounting.
De Minimis Rate Used: N
Rate Explanation: 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.
Negative amounts shown on the Schedule represent adjustments or credits made in the normal
course of business to amounts reported as expenditures in prior years. The Association has
elected not to use the 10-percent de minimis indirect cost rate as allowed under Uniform
Guidance.
The accompanying Schedule of Expenditures of Federal Awards (the Schedule) includes the
Federal award activity of the Association under programs of the Federal Government for the year
ended December 31, 2023. The information in this Schedule is presented in accordance with the
requirements of Title 2 U.S. Code of Federal Regulations Part 200, Uniform Administrative
Requirements, Cost Principles, and Audit Requirements for Federal Awards (Uniform Guidance).
The Schedule presents only a selected portion of the operations of the Association; accordingly, it
is not intended to and does not present the financial position, changes in net assets or cash flows
of the Association.
Title: Note 2. Summary of Significant Accounting Policies
Accounting Policies: Expenditures reported on the Schedule are reported on the accrual basis of accounting.
De Minimis Rate Used: N
Rate Explanation: 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.
Negative amounts shown on the Schedule represent adjustments or credits made in the normal
course of business to amounts reported as expenditures in prior years. The Association has
elected not to use the 10-percent de minimis indirect cost rate as allowed under Uniform
Guidance.
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.
Negative amounts shown on the Schedule represent adjustments or credits made in the normal
course of business to amounts reported as expenditures in prior years. The Association has
elected not to use the 10-percent de minimis indirect cost rate as allowed under Uniform
Guidance.
Title: Note 3. Federal Expenditures
Accounting Policies: Expenditures reported on the Schedule are reported on the accrual basis of accounting.
De Minimis Rate Used: N
Rate Explanation: 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.
Negative amounts shown on the Schedule represent adjustments or credits made in the normal
course of business to amounts reported as expenditures in prior years. The Association has
elected not to use the 10-percent de minimis indirect cost rate as allowed under Uniform
Guidance.
The Schedule of Expenditures of Federal Awards includes the Federal expenditures incurred by
the American Psychiatric Association only. The Association is one of the entities included in the
consolidated financial statements and the Federal expenditures reported by the related entity is
included in a separate report. A reconciliation of the Federal expenditures reported for the year
ended December 31, 2023 follows:
Federal expenditures incurred by APA $ 3,511,379
Federal fixed price contract revenue (75,042)
Federal expenditures incurred by the American Psychiatric Association
Foundation reported in a separate report dated April 26, 2024 1,170,544
TOTAL FEDERAL GRANT AND CONTRACT REVENUE REPORTED
ON THE CONSOLIDATED FINANCIAL STATEMENTS OF THE
AMERICAN PSYCHIATRIC ASSOCIATION AND AFFILIATES $ 4,606,881