Notes to SEFA
Title: Basis of Presentation
Accounting Policies: Y
De Minimis Rate Used: N
Rate Explanation: The Association has been awarded a pre-determined indirect cost rate of 65.6%.
The accompanying schedule of expenditures of federal awards (the Schedule) includes the federal award activity of the American Psychological Association and subsidiaries (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). Because the Schedule presents only a selected portion of the operations of the Association, it is not intended to and does not present the financial position, changes in net assets, or cash flows of the Association.
Title: Summary of Significant Accounting Policies
Accounting Policies: Y
De Minimis Rate Used: N
Rate Explanation: The Association has been awarded a pre-determined indirect cost rate of 65.6%.
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.
Title: Indirect Cost Rate
Accounting Policies: Y
De Minimis Rate Used: N
Rate Explanation: The Association has been awarded a pre-determined indirect cost rate of 65.6%.
The Association has been awarded a pre-determined indirect cost rate of 65.6%. The Association elected not to use the 10% de minimis indirect cost rate allowed under the Uniform Guidance