Notes to SEFA
Accounting Policies: The accompanying schedule of expenditures of federal awards includes the federal grant activity of FairfaxEducation Association Retirement Housing Corporation T/A Tysons Towers Apartments under programs of thefederal government for the year ended December 31, 2022. The information in this schedule is presented inaccordance with the requirements of the Uniform Guidance. Because the Schedule presents only a selected portionof the operations of Fairfax Education Association Retirement Housing Corporation T/A Tysons TowersApartments, it is not intended to and does not present the financial position, changes in net assets, or cash flows ofFairfax Education Association Retirement Housing Corporation T/A Tysons Towers Apartments.Expenditures reported on the Schedule are reported on the accrual basis of accounting. Such expenditures arerecognized following the cost principles contained in the Uniform Guidance, wherein certain types ofexpenditures are not allowable or are limited as to reimbursement. Negative amounts shown on the Schedulerepresent adjustments or credits made in the normal course of business to amounts reported as expenditures inprior years. Passthrough entity identifying numbers are presented where applicable. The Corporation has electednot to use the 10% de minimis indirect cost rate allowed under the Uniform Guidance.
De Minimis Rate Used: N
Rate Explanation: The auditee did not use the de minimis cost rate.