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 de minimis indirect cost rate as allowed under Uniform Guidance for all awards that do not explicitly state that indirect costs are not allowed.
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, 2024. 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 de minimis indirect cost rate as allowed under Uniform Guidance for all awards that do not explicitly state that indirect costs are not allowed.
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 de minimis indirect cost rate as allowed under Uniform Guidance for all awards that do not explicitly state that indirect costs are not allowed.
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 de minimis indirect cost rate as allowed under Uniform Guidance for all awards that do not explicitly state that indirect costs are not allowed.
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, 2024 follows:
Federal expenditures incurred by APA $ 2,489,409
Federal expenditures incurred by the American Psychiatric Association Foundation reported in a separate report dated April 29, 2025 1,060,322
TOTAL FEDERAL GRANT AND CONTRACT REVENUE REPORTED ON THE CONSOLIDATED FINANCIAL STATEMENTS OF THE AMERICAN PSYCHIATRIC ASSOCIATION AND AFFILIATES $ 3,549,731