Notes to SEFA
Accounting Policies: The accompanying schedule of expenditures of federal awards includes the federal grant activity of Fairfax
Education Association Retirement Housing Corporation T/A Tysons Towers Apartments 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 the Uniform Guidance. Because the Schedule presents only a selected portion
of the operations of Fairfax Education Association Retirement Housing Corporation T/A Tysons Towers
Apartments, it is not intended to and does not present the financial position, changes in net assets, or cash flows of
Fairfax 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 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. Passthrough entity identifying numbers are presented where applicable.
De Minimis Rate Used: N
Rate Explanation: The Corporation has elected
not to use the 10% de minimis indirect cost rate allowed under the Uniform Guidance.