Audit 33396

Title: Basis of Presentation Accounting Policies: 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. De Minimis Rate Used: N Rate Explanation: APPA uses a final indirect cost rate of 31.10% for fringe benefits and 36.62% for general and administrative costs approved by the U.S. Department of Energy (DOE). Therefore, APPA has not elected to use the 10% de minimis indirect cost rate as allowed under the Uniform Guidance, but rather the rates established directly with the respective federal agency. The accompanying schedule of expenditures of federal awards (the Schedule) includes the federal award activity of The American Public Power Association (APPA) for the year ended December 31, 2022. The information in the 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 APPA, it is not intended to, and does not present the financial position, changes in net assets, or cash flows of APPA.