Notes to SEFA
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, 2025. 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.
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.
APPA has elected not to use the de minimis indirect cost rate permitted under the Uniform Guidance, which is 10% for awards prior to October 1, 2024, and 15% for awards on or after October 1, 2024, but rather uses the rates established directly with the respective federal agency.